Biden promotes financial literacy, health care plan

[PatSeg]

From the Boston Globe:

<MANCHESTER, N.H. --Democratic presidential hopeful Joe Biden said Friday that high school students should learn the basics of economics and finance so they don't show up to college -- like he did -- not quite sure what a mortgage was.>

snip

<Asked how he would boost the nation's financial literacy, Biden said college shouldn't provide a student's first exposure to economics.

"When I went into college I didn't know what a bond was or a stock or an investment. My dad didn't know, we never discussed it," he said. "I wasn't even sure what a mortgage was, and I'm not a slow fella.">

snip

<On the group's other main issue -- health care-- Biden described the plan he released earlier this week to expand coverage for children and have the federal government pay for catastrophic illnesses. The plan, which would cost between $80 billion and $110 billion each year, would not provide universal coverage, but Biden argued if Americans are given better health care options they will get coverage.

"Americans will not accept mandates," he said. "America is not prepared for that to happen. You will never get it passed. We are different and independent in a way that other countries aren't.">

<Biden would also let people as young as 55 sign up for Medicare and would allow others to buy into the health care plan offered to members of Congress.>

[papau]

1. It is a nice combination of Obama and Richardson's health care plan. n/t

n/t

[antigop]

2. "Allow others to buy into the health care plan offered to members of Congress..."

Does that mean we get the plan at THE SAME RATE? Or we just get ACCESS to the plan at a different (higher) rate?

[jillan]

3. As a former bank officer, I totally agree that kids need to learn more about finance and economics.

Not only do High School students have no clue what a mortgage is; they don't understand basic savings plans, how to balance a checkbook, and that credit cards are not your friend. It ends up costing them big bucks in insufficient fund fees, late fees, high interest rates and bad credit.

It's really sad as their funds are so limited to start.

[gateley]

4. When I was reading this I was thinking I sure could have benefited from

a better understanding of economics. That would be wonderful if that were addressed and taught in school. Boy, Biden keeps blowing me away!

[jgraz]

5. We'd better all understand finance, given the bankruptcy bill that Biden helped pass

Senator Hairplugs made sure that you'll pay a high penalty for any financial mistakes.

[PatSeg]

6. He made sure that deadbeat dads couldn't include

unpaid child support payments in any bankruptcy proceedings and that the mothers would not have to hire lawyers, and go to court to compete with creditors to receive money for their children.

[youthere]

7. Kicking for Joe!