A federal government that is $15.6 trillion in debt is currently using its “bully pulpit” to run 16 different programs to teach citizens “financial literacy,” according to the Government Accountability Office, the accounting agency of the U.S. Congress.
Previously, relying on a study by the RAND Corporation, the GAO had reported that the federal government operated 56 programs to teach citizens “financial literacy.” However, it subsequently determined that 16 was a better count of what it called the government’s “significant financial literacy programs.”
Even among these 16 federal programs that teach citizens “financial literacy,” the GAO found that there is some duplication of efforts and no definitive way to measure the programs’ effectiveness.
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