Monday, February 28, 2005

Financial Ed in Oklahoma

Looks like there's a bill in the Oklahoma Senate to mandate some sort of personal-finance curriculum in our high schools:

Journal Record:   "Professor proposes mandated economics study"

And the bill itself:

OK Senate Bill 378 (.rtf file)

Some text from the bill, describing what it is the legislators are aiming for with this mandate for a "Personal Financial Economics" curriculum:

...“Personal Financial Economics” means knowledge of personal finances that is sufficient to enable a person to manage savings, investment, and checking accounts, to design and maintain a household budget, to manage personal debt, to understand consumer credit and finance, to manage personal credit options, and to understand and select among short-term and long-term investment options.

Apparently, according to info provided by the Oklahoma State Regents for Higher Education, the bill passed subcommittee on February 16. It passed committee on February 23.

But local talk-radio scuttlebutt has it that one particular senator who voted against the bill — a Republican from Tulsa named Mike Mazzei — is a financial planner. "He develops successful plans," states his bio, "to help people protect and grow their money, enjoy their lives and realize their dreams."

So explain to me how it is that this guy — a financial planner, mind you — could possibly vote against this bill? On a somewhat ironic side note, this particular senator has also vowed to donate 20 percent of his salary to the schools in his district.

I mean, let's face it: It's not like personal finance is something which every single breathing American has to deal with on a daily basis, right? Stuff like, say, chemistry, is way more important.


— Posted by Michael @ 12:19 AM


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