[Congressional Record Volume 156, Number 53 (Thursday, April 15, 2010)]
[Senate]
[Pages S2393-S2395]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
NATIONAL PUBLIC WORKS WEEK
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FINANCIAL LITERACY MONTH
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SUPPORTING THE MISSION AND GOALS OF THE 2010 NATIONAL CRIME VICTIMS'
RIGHTS WEEK
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HONORING COAL MINERS WHO PERISHED IN THE UPPER BIG BRANCH MINE-SOUTH IN
RALEIGH COUNTY, WEST VIRGINIA
Mr. BROWN of Ohio. Mr. President, I ask unanimous consent that the
Senate now proceed to the en bloc consideration of the following Senate
resolutions: S. Res. 484, S. Res. 485, S. Res. 486, and S. Res. 487.
There being no objection, the Senate proceeded to consider the
resolutions.
Mr. BROWN of Ohio. Mr. President, I ask unanimous consent that the
resolutions be agreed to, the preambles be agreed to, and the motions
to reconsider be laid upon the table en bloc.
The PRESIDING OFFICER. Without objection, it is so ordered.
The resolutions (S. Res. 484, S. Res. 485, S. Res. 486, and S. Res.
487) were agreed to.
The preambles were agreed to.
The resolutions, with their preambles, read as follows:
S. Res. 484
Whereas public works infrastructure, facilities, and
services are of vital importance to the health, safety, and
well-being of the people of the United States;
Whereas the public works infrastructure, facilities, and
services could not be provided without the dedicated efforts
of public works professionals, including engineers and
administrators, who represent State and local governments
throughout the United States;
Whereas public works professionals design, build, operate,
and maintain the transportation systems, water
infrastructure, sewage and refuse disposal systems, public
buildings, and other structures and facilities that are vital
to the people and communities of the United States;
Whereas understanding the role that public infrastructure
plays in protecting the environment, improving public health
and safety, contributing to economic vitality, and enhancing
the quality of life of every community of the United States
is in the interest of the people of the United States; and
Whereas 2010 marks the 50th anniversary of ``National
Public Works Week'': Now, therefore, be it
Resolved, That the Senate--
(1) designates the week of May 16 through May 22, 2010, as
``National Public Works Week'';
(2) recognizes and celebrates the important contributions
that public works professionals make every day to improve--
(A) the public infrastructure of the United States; and
(B) the communities that public works professionals serve;
and
(3) urges individuals and communities throughout the United
States to join with representatives of the Federal Government
and the American Public Works Association in activities and
ceremonies that are designed--
(A) to pay tribute to the public works professionals of the
United States; and
(B) to recognize the substantial contributions that public
works professionals make to the United States.
S. Res. 485
Whereas according to the Federal Deposit Insurance
Corporation, at least 25.6 percent of households in the
United States, or close to 30,000,000 households with
approximately 60,000,000 adults, are unbanked or underbanked
and, subsequently, have missed opportunities for savings,
lending, and basic financial services;
Whereas according to the 2009 Consumer Financial Literacy
Survey Final Report of the National Foundation for Credit
Counseling, 41 percent of adults in the United States, or
more than 92,000,000 adults living in the United States, gave
themselves a grade of C, D, or F on their knowledge of
personal finance;
Whereas according to the National Bankruptcy Research
Center, the number of personal bankruptcy filings reached
1,410,000 in 2009, a 32 percent increase from 2008 and the
highest number since 2005;
Whereas the 2009 Retirement Confidence Survey conducted by
the Employee Benefit Research Institute found that the
percentage of workers who were ``very confident'' about
having enough money for a comfortable retirement decreased
sharply, from 27 percent in 2007 to 18 percent in 2008 to 13
percent in 2009, the lowest since the question was first
asked in the survey in 1993, and representing a 50 percent
decline in worker confidence since 2007;
Whereas according to a 2009 ``Flow of Funds'' report by the
Federal Reserve, household debt stood at $13,600,000,000,000;
Whereas according to the Department of Labor, only 43
percent of people in the United States have calculated how
much they need to save for retirement;
Whereas according to the 2009 Consumer Financial Literacy
Survey Final Report of the National Foundation for Credit
Counseling, 26 percent, or more than 58,000,000 adults, admit
to not paying all of their bills on time;
Whereas according to the 2009 Consumer Financial Literacy
Survey Final Report of the National Foundation for Credit
Counseling, \1/3\ of adults in the United States,
approximately 72,000,000 adults, report that they have no
savings and only 23 percent of adults in the United States
are now saving more than they did a year ago because of the
current economic climate;
Whereas according to the 2009 Consumer Financial Literacy
Survey Final Report of the National Foundation for Credit
Counseling, less than \1/2\ of adults keep close track of
their spending, and nearly 16,000,000 adults do not know how
much they spend on food, housing, and entertainment, and do
not monitor their overall spending;
Whereas the number of adults keeping close track of their
spending has not improved since 2007;
Whereas according to the sixth Survey of the States 2009:
Economic, Personal Finance, and Entrepreneurship Education in
Our Nation's Schools, conducted by the Council for Economic
Education, only 21 States require students to take an
economics course as a high school graduation requirement, and
only 19 States require the testing of student knowledge in
economics;
Whereas according to the sixth Survey of the States 2009:
Economic, Personal Finance, and Entrepreneurship Education in
Our Nation's Schools, conducted by the Council for Economic
Education, only 13 States require students to take a personal
finance course either independently or as part of an
economics course as a high school graduation requirement;
[[Page S2394]]
Whereas expanding access to the mainstream financial system
will provide individuals with less expensive and more secure
options for managing finances and building wealth;
Whereas quality personal financial education is essential
to ensure that individuals are prepared to manage money,
credit, and debt, and to become responsible workers, heads of
households, investors, entrepreneurs, business leaders, and
citizens;
Whereas increased financial literacy empowers individuals
to make wise financial decisions and reduces the confusion
caused by an increasingly complex economy;
Whereas a greater understanding of, and familiarity with,
financial markets and institutions will lead to increased
economic activity and growth;
Whereas, in 2003, Congress found it important to coordinate
Federal financial literacy efforts and formulate a national
strategy; and
Whereas, in light of that finding, Congress passed the
Financial Literacy and Education Improvement Act of 2003
(Public Law 108-159; 117 Stat. 2003) establishing the
Financial Literacy and Education Commission and designating
the Office of Financial Education of the Department of the
Treasury to provide support for the Commission: Now,
therefore, be it
Resolved, That the Senate--
(1) designates April 2010 as ``Financial Literacy Month''
to raise public awareness about--
(A) the importance of personal financial education in the
United States; and
(B) the serious consequences that may result from a lack of
understanding about personal finances; and
(2) calls on the Federal Government, States, localities,
schools, nonprofit organizations, businesses, and the people
of the United States to observe the month with appropriate
programs and activities.
S. Res. 486
Whereas more than 25,000,000 individuals in the United
States are victims of crime each year, including more than
6,000,000 individuals who are victims of violent crime;
Whereas a just society acknowledges the impact of crime on
individuals, families, neighborhoods, and communities by
ensuring that rights, resources, and services are available
to help rebuild the lives of the victims;
Whereas, although the United States has steadily expanded
rights, protections, and services for victims of crime, too
many victims are still not able to realize the hope and
promise of the expanded rights, protections, and services;
Whereas, despite impressive accomplishments realized during
the past 40 years in crime victims' rights and services,
there remain many challenges to ensuring that all victims
are--
(1) treated with fairness, dignity, and respect;
(2) offered support and services regardless of whether the
victims report the crimes committed against them to law
enforcement; and
(3) recognized as key participants in the systems of
justice in the United States when the crimes are reported;
Whereas the systems of justice in the United States should
ensure that services are available for all victims of crime,
including victims from underserved communities of the United
States;
Whereas observing the rights of victims and treating
victims with fairness, dignity, and respect serve the public
interest by--
(1) engaging victims in the justice system;
(2) inspiring respect for public authorities; and
(3) promoting confidence in public safety;
Whereas individuals in the United States recognize that
homes, neighborhoods, and communities are made safer and
stronger by identifying and meeting the needs of crime
victims and ensuring justice for all;
Whereas treating victims of crime with fairness, dignity,
and respect, as encouraged and expressed through the 2010
National Crime Victims' Rights Week theme referred to as
``Crime Victims' Rights: Fairness. Dignity. Respect.''--
(1) costs nothing more than taking time to identify the
needs and concerns of victims; and
(2) requires effective collaboration among justice systems
to meet the needs and concerns of victims; and
Whereas the 2010 National Crime Victims' Rights Week, which
is observed during the week of April 18 through April 24,
2010, provides an opportunity for the systems of justice in
the United States to strive to reach the goal of justice for
all by ensuring that victims are afforded legal rights and
provided with assistance to face the financial, physical,
spiritual, psychological, and social impact of crime: Now,
therefore, be it
Resolved, That the Senate--
(1) supports the mission and goals of the 2010 National
Crime Victims' Rights Week to increase public awareness of--
(A) the impact on victims and survivors of crime; and
(B) the constitutional and statutory rights and needs of
victims and survivors of crime; and
(2) recognizes that fairness, dignity, and respect comprise
the very foundation of the manner in which victims and
survivors of crime should be treated.
S. Res. 487
Whereas coal mining is a time-honored profession;
Whereas coal miners and the families of coal miners have
shaped the rich history and culture of the State of West
Virginia and the United States;
Whereas the United States is greatly indebted to coal
miners for the difficult and dangerous work performed by coal
miners to provide the fuel necessary to keep the United
States strong and secure;
Whereas the United States has long recognized the
importance of health and safety protections for coal miners
laboring in extreme and dangerous conditions;
Whereas accidents in coal mines have repeatedly taken the
lives of coal miners;
Whereas, following an explosion on April 5, 2010, 29 coal
miners from the State of West Virginia tragically perished in
the Upper Big Branch Mine-South;
Whereas the explosion at the Upper Big Branch Mine-South
was the worst coal mining disaster in the United States
during the 40 years prior to the date of the agreement to
this resolution;
Whereas Federal, State, and local rescue crews worked
tirelessly in a courageous rescue and recovery effort after
the explosion;
Whereas the families of the fallen coal miners have
suffered an immeasurable loss; and
Whereas residents of Raleigh County and the State of West
Virginia came together to support the families of the fallen
coal miners: Now, therefore, be it
Resolved, That the Senate--
(1) recognizes the ultimate sacrifice made by the 29 coal
miners lost at the Upper Big Branch Mine-South in Raleigh
County, West Virginia;
(2) extends the deepest condolences of the United States
Senate to the families of the fallen coal miners;
(3) honors the survivors of the tragedy;
(4) recognizes all coal miners for--
(A) enduring the immeasurable loss of coworkers; and
(B) maintaining courage in the aftermath of the explosion
at the Upper Big Branch Mine-South;
(5) commends the valiant efforts of the emergency response
workers searching for the missing coal miners after the
explosion; and
(6) honors the many volunteers who provided support and
comfort for the families of the missing coal miners during
the rescue and recovery operations.
Financial Literacy Month
Mr. AKAKA. Mr. President, I am pleased that the Senate has once again
passed a resolution designating April as Financial Literacy Month. I
thank my cosponsors, Senators Enzi, Dodd, Crapo, Johnson, Corker,
Schumer, Cochran, Menendez, Wicker, Kohl, Merkley, Inouye, Durbin,
Baucus, Murray, Lincoln, Begich, Gillibrand, Feingold, Levin, Carper,
Cardin, Stabenow, and Hagan. I am glad to work once again with my
colleagues in a bipartisan manner to promote financial and economic
literacy for all Americans.
This tax day I want to recognize those organizations that gathered
information on the status of financial literacy in our country. This
includes the Jumpstart Coalition for Personal Financial Literacy's
survey of high school seniors and the Employee Benefit Research
Institute's Retirement Confidence Survey. These surveys present deeply
troubling figures that underscore the need for increased financial
literacy. The financial literacy of high school students has fallen to
its lowest level ever, with a score of just 48.3 percent. Also, the
percentage of workers who were ``very confident'' about having enough
money for a comfortable retirement decreased sharply, from 27 percent
in 2007 to 18 percent in 2008 to 13 percent in 2009, the lowest since
the question was first asked in the survey in 1993, and representing a
50 percent decline in worker confidence since 2007. There is still much
work to do in properly educating America's youth on basic personal
financial management skills.
In addition, last year the Federal Reserve noted that household debt
in the United States stood at $13.6 trillion. The 2009 Consumer
Financial Literacy Survey Final Report of the National Foundation for
Credit Counseling found that less than half of all adults keep close
track of their spending, and nearly 16 million adults do not monitor
their overall spending and do not know how much they spend on food,
housing, and entertainment. With regard to retirement planning, the
U.S. Department of Labor noted that only 43 percent of people in the
United States have calculated how much they need to save for
retirement. These findings suggest a serious problem underscored by the
fact that most workers have not calculated how much they need to save
for retirement, even if they believe they are behind schedule in their
retirement.
[[Page S2395]]
Increased financial and economic literacy can help people navigate
around the countless pitfalls found in the marketplace. A significant
step occurred with the passage of the Credit Card Accountability
Responsibility and Disclosure Act of 2009. The Act requires credit card
companies to disclose information about the impact of making only the
minimum monthly payment. This includes how long it will take to repay a
credit card and the extra amount in interest that must be paid when
only the minimum payment is made. This easily-found information will
allow consumers to become more aware of their financial situation and
enable them to make better financial choices.
Our resolution designates April 2010 as Financial Literacy Month and
highlights the need to promote financial literacy. I am pleased by
efforts underway to promote financial and economic education and wish
to highlight a few examples. Here in Washington, the Jumpstart
Coalition for Personal Financial Literacy is holding a celebration of
financial literacy this month. During the celebration, Jumpstart will
honor two national leaders, a State coalition of the year, and the
prestigious Odom Award winner. In addition, the National Foundation for
Credit Counseling will announce the winner of its annual poster
contest. The Washington State Department of Financial Institutions,
DFI, announced that it is launching a new statewide financial education
calendar. DFI is working with organizations providing financial
education in their communities to incorporate existing calendars into a
single searchable, comprehensive statewide calendar of financial
education classes and events. Maryland Public Television is airing the
program ``Pursuit of the Dream: Building Credit for Life.'' This
special and important documentary will educate viewers on the
importance of credit scores. Viewers will also learn tips for building
a good credit score and helpful ways to avoid money traps that can drag
down credit ratings. Viewers will also be able to hear from local
financial experts and call a toll-free number airing throughout the
broadcast to connect to valuable resources. In my home State of Hawaii,
the Hawaii State Department of Commerce and Consumer Affairs recently
organized a fair to provide free financial information and help arm
consumers with accurate and useful information to encourage financial
literacy.
As policymakers, we need to focus on these issues year round, not
just in the month of April. However, focusing on Financial Literacy
Month in April means that we have a designated part of the year when we
can reassess and improve upon our efforts.
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