Does The US Need A Secretary Of Personal Finance?

[jeffrey]

Question: Does the US need a Secretary of Personal Finance?

http://www.kcci.com/money/10814176/detail.html

[Joan.of.the.Arch]

At the very least someone needs to speak a word or two to our current president. Well, maybe someone needs to speak on behalf of individual citizens' finances to the president again and again. I don't know whether a cabinet position is necessary. But every time the president recommends that we all strengthen our economy by going shopping, I cringe. It seems to me a fragile way to maintain an economy. I think of sideshow plate-spinners running fast to keep the plates spinning, even though eventually the plates will crash and break to shards.

I do suspect that the good of individual citizens' finances is not necessarily the same as the good of "business" as a whole. And business is not what it used to be (compare to 40 years ago, within my own lifetime). Could a cabinet level position change this?

What kinds of administrative things could the president/secretary do within the established law to make any difference?

[scfr]

Are you volunteering for the job, Jeffrey?

[Broken Arrow]

Originally Posted by Joan.of.the.Arch

At the very least someone needs to speak a word or two to our current president.

Oh my goodness yes please!

Incidentally, this may be a good time and place to mention this site again.

[jeffrey]

Originally Posted by scfr

Are you volunteering for the job, Jeffrey?

heh - oh, wouldn't I be a disaster in that position (you have to remember that the economy hums because everyone likes to spend)

[bjl584]

No, but I would argue that personal finance and money management should be emphasized to our children in school, as this is currently not really a part of the learning program. It's hard to imagine that a 7th grader is able to do trigonometry problems but doesn't know the first thing about keeping a budget or balancing a check book.

[PauletteGoddard]

It'd be hypocritical of the government to have one, considering how massive its own debt is. It's more delicious to be saving and mastering one's personal finances when it's posited as a subversive activity, like how some Churches have the most power over people when religion is forbidden in some countries.

Besides, you just know the Secretary will be an appointee from Providian or Ameriquest or some company known for unfair consumer practices, and its messages will be: "I encourage you all to go shopping more."

[Wealthizfreedom]

I agree about teaching this in school.. when I was in seventh grade I was in the "dumb" math class and guess what we learned??? How to balance a checkbook... ironic huh?

[PrincessPerky]

The last thing we need is another high paid govt official telling us what to do!