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On The Record

The 2008 presidential campaign is turning out to be one of the most exciting periods in American political history. For Sen. John McCain, who sewed up his party’s nomination early...

Financial Illiteracy Will Make Us a Permanent Underclass

These days, I’ve become increasingly alarmed by the growing pattern of recklessness and neglect that seems to govern the management of our personal finances. Recent actions—or I should say inaction—by large numbers of African Americans have prompted me to suggest taking a bold step and declare a state of financial emergency. I make this assertion not for dramatic effect but to bring attention to the need for us to take corrective measures. If not, this self-destructive behavior will continue to threaten the future of our families for generations to come.

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