By: Dan Kadlec
Source: Time
On March 7, 2014 Dan Kadlac informed everyone about Obama's decision of teaching young americans about money and finance. His decision is based on the idea of having a brighter future for the children. President Obama's Advisory Council on Financial Capability for Young Americans (PACFCYA) meet for business on Monday, March 10, 2014. It will be the very first time they meet to discuss a matter that can change the forthcoming. The PACFCYA has promised, "to set a smart new course for financial education in the United States." Since 2008, when President George W. Bush first established the PACFCYA, American presidents have been "on the financial education bandwagon." President Bush had a vision of an ownership society, which he stated, ""We want people to own assets. We want people to be able to manage their assets." He had hopes that one day a population that was intelligent with managing their money would reduce the odds of a repeat finical crisis. President Obama decided to change the word "Literacy" to "Capability" in the PACFCYA; this made it clear on the new approach Obama was taking. It has been said that, "teaching kids about money has always been part of the council's mission." It is going to be a long process to solve the financial ignorance, but it is going to start with the youths (starting with the students in first grade).
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