Accountant, Account for Thyself


Norm Singleton, legislative director for Ron Paul, emails to note that the Fair Credit Reporting Act signed in December provides for the creation of a "Financial Literacy Commission" intended to " develop a national strategy promoting basic financial literacy and education at the State and local level." That's just one of several such programs.

As Norm observes, it'd be interesting to see whether the FLC promotes the same sort of "financial literacy" exhibited by fedgov itself. As in: "Well, I've racked up massive credit card debt, and I'm hoping that if I spend even more now, while taking in less income, this will encourage me to spend less in the future. Barring that, I'll borrow against my 'trust fund,' which consists of a note reading 'go hit up my kids for the money.'"