[Congressional Record Volume 149, Number 49 (Wednesday, March 26, 2003)]
[Senate]
[Pages S4453-S4454]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              THE CALENDAR

  Mr. FRIST. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of the following calendar items 
en bloc: No. 45, S. Res. 48; No. 46, S. Res. 52; No. 47, S. Res. 58.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The clerk will state the resolutions by title.
  The legislative clerk read as follows:

       A resolution (S. Res. 48) designating April 2003 as 
     ``Financial Literacy For Youth Month.''
       A resolution (S. Res. 52) recognizing the social problems 
     of child abuse and neglect, and supporting efforts to enhance 
     public awareness of the problem.
       A resolution (S. Res. 58) expressing the sense of the 
     Senate that the President should designate the week beginning 
     June 1, 2003, ``National Citizen Soldier Week.''

  There being no objection, the Senate proceeded to consider the 
resolutions en bloc.
  Mr. FRIST. Mr. President, I ask unanimous consent that the amendments 
to the resolutions, where applicable, be agreed to, the resolutions, as 
amended, if amended, be agreed to, the preambles be agreed to, the 
motions to reconsider be laid upon the table en bloc, and that any 
statements relating to these matters be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The resolution (S. Res. 48) was agreed to.
  The preamble was agreed to.
  The resolution, with its preamble, reads as follows:

                               S. Res. 48

       Whereas the percentage of income used for household debt 
     payments, including mortgages, credit cards, and student 
     loans, rose to the highest level in more than a decade in 
     2001 and remained at 14 percent in 2002;
       Whereas consumer bankruptcies in 2001 increased 19 percent 
     over those in the previous year, exceeding the previous high 
     reached in 1998, and the rate of filings did not slacken 
     during the first 9 months of 2002;
       Whereas personal savings as a percentage of Gross Domestic 
     Product decreased from 7.5 percent in the early 1980s to 2.4 
     percent in 2002;
       Whereas approximately 40,000,000 Americans, the 
     ``unbanked'', are not using mainstream, insured financial 
     institutions;
       Whereas home foreclosures in 2002 reached the highest rate 
     in 30 years;
       Whereas 55 percent of college students acquire their first 
     credit card during their first year in college, and 83 
     percent of college students have at least 1 credit card;
       Whereas 45 percent of college students are in credit card 
     debt, with the average debt being $3,066;
       Whereas only 26 percent of 13- to 21-year-olds reported 
     that their parents actively taught them how to manage money;
       Whereas a 2002 study by the Jump$tart Coalition for 
     Personal Financial Literacy found that high school seniors 
     know even less about credit cards, retirement funds, 
     insurance, and other personal finance basics than seniors did 
     5 years ago;
       Whereas a 2002 survey by the National Council on Economic 
     Education found that a decreasing number of States include 
     personal finance in their education standards for students in 
     grades K-12;
       Whereas a greater understanding and familiarity with 
     financial markets and institutions will lead to increased 
     economic activity and growth;
       Whereas financial literacy empowers individuals to make 
     wise financial decisions and reduces the confusion of an 
     increasingly complex economy;
       Whereas personal financial management skills and long-lived 
     habits develop during childhood;
       Whereas personal financial education is essential to ensure 
     that our youth are prepared to manage money, credit, and 
     debt, and become responsible workers, heads of households, 
     investors, entrepreneurs, business leaders, and citizens; and
       Whereas the Jump$tart Coalition for Personal Financial 
     Literacy, its State affiliates, and its partner organizations 
     have designated each April as ``Financial Literacy for Youth 
     Month'', the goal of which is to educate the public about the 
     need for increased financial literacy for youth in America: 
     Now, therefore, be it
       Resolved, That the Senate--
       (1) designates April 2003 as ``Financial Literacy for Youth 
     Month'' to raise public awareness about the need for 
     increased financial literacy in our schools and the serious 
     problems that may be associated with a lack of understanding 
     about personal finances; and
       (2) requests that the President issue a proclamation 
     calling on the Federal Government, States, localities, 
     schools, nonprofit organizations, businesses, other entities, 
     and the people of the United States to observe the month with 
     appropriate programs and activities.
  The resolution (S. Res. 52), as amended, was agreed to.
  The preamble was agreed to.
  The resolution, with its preamble, reads as follows:
  [Omit the part in bold brackets and insert the part printed in 
italic]

                               S. Res. 52

       Whereas approximately 3,000,000 reports of suspected or 
     known child abuse and neglect involving 5,000,000 American 
     children are made to child protective service agencies each 
     year;
       Whereas 588,000 American children are unable to live safely 
     with their families and are placed in foster homes and 
     institutions;
       Whereas it is estimated that more than 1,200 children, 85 
     percent of whom are under the age of 6 years and 44 percent 
     of whom are under the age of 1 year, lose their lives as a 
     direct result of abuse and neglect every year in America;
       Whereas this tragic social problem results in human and 
     economic costs due to its relationship to crime and 
     delinquency, drug and

[[Page S4454]]

     alcohol abuse, domestic violence, and welfare dependency; and
       Whereas Childhelp USA has initiated a ``Day of Hope'' to be 
     observed on Wednesday, April 2, 2003, during Child Abuse 
     Prevention Month, to focus public awareness on this social 
     ill: Now, therefore, be it
       Resolved, That--
       [(1) it is the sense of the Senate that--
       [(A) all Americans should keep the victims of child abuse 
     and neglect in their thoughts and prayers;
       [(B) all Americans should seek to break the cycle of child 
     abuse and neglect and to give these victimized children hope 
     for the future; and
       [(C) the faith community, nonprofit organizations, and 
     volunteers across America should recommit themselves and 
     mobilize their resources to assist these abused and neglected 
     children; and
       [(2) the Senate--
       [(A) supports the goals and ideas of the ``Day of Hope'', 
     which was initiated by Childhelp USA and will be observed on 
     April 2, 2003, as part of Child Abuse Prevention Month; and
       [(B) commends Childhelp USA for all of its efforts on 
     behalf of abused and neglected children throughout the United 
     States.]
       (1) it is the sense of the Senate that--
       (A) all Americans should keep the victims of child abuse 
     and neglect in their thoughts and prayers;
       (B) all Americans should seek to break the cycle of child 
     abuse and neglect and to give these victimized children hope 
     for the future; and
       (C) the faith community, nonprofit organizations, and 
     volunteers across America should recommit themselves and 
     mobilize their resources to assist these abused and neglected 
     children; and
       (2) the Senate--
       (A) supports the goals and ideas of the ``Day of Hope'', 
     which will be observed on April 2, 2003, as part of Child 
     Abuse Prevention Month; and
       (B) commends those working on behalf of abused and 
     neglected children throughout the United States.
  The resolution (S. Res. 58) was agreed to.
  The preamble was agreed to.
  The resolution, with its preamble, reads as follows:

                               S. Res. 58

       Whereas members of the National Guard and the other reserve 
     components of the Armed Forces perform a vital role in the 
     defense of the United States;
       Whereas members of the National Guard and the other reserve 
     components of the Armed Forces make significant personal 
     sacrifices in performing military service when called to 
     active duty; and
       Whereas there are over 100,000 members of the National 
     Guard and the other reserve components of the Armed Forces 
     serving on active duty: Now, therefore, be it
       Resolved,

     SECTION 1. DESIGNATION OF NATIONAL CITIZEN SOLDIER WEEK.

       (a) Sense of the Senate.--It is the sense of the Senate 
     that the President should designate the week beginning June 
     1, 2003, as ``National Citizen Soldier Week''.
       (b) Proclamation.--The Senate requests the President to 
     issue a proclamation--
       (1) designating the week beginning June 1, 2003, as 
     ``National Citizen Soldier Week''; and
       (2) calling on the people of the United States to observe 
     the week with appropriate ceremonies and activities.

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