U.S. Treasury Tries to Con KidsSubmitted by Free Silver on Wed, 10/03/2012 - 18:01
I had to laugh when I read about the U.S. Treasury's Ready. Save. Grow. campaign, designed to get kids to save money.
What's the use of encouraging kids to save money when the banks pay interest rates below the rate of inflation?
The campaign would better be touted as the Ready. Save. Gone. program because Americans lose pennies every time they save a dollar.
Reminded me of this video:
I suspect that by the time today's children reach adulthood their savings will be worth-less, much less, with the way Congress is spending and the Federal Reserve is devaluing the dollar.
Imagine that a kid puts $1,000 into a savings account. With the 2 percent annual inflation rate targeted by the Federal Reserve, over 20 years, that $1,000 will have 40 percent less purchasing power.
The U.S. Treasury might want to include that disclaimer in its Ready. Save. Grow. campaign.