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Financial Illiteracy Will Make Us a Permanent Underclass

These days, I’ve become increasingly alarmed by the growing pattern of recklessness and neglect that seems to govern the management of our personal finances. Recent actions—or I should say inaction—by large numbers of African Americans have prompted me to suggest taking a bold step and declare a state of financial emergency. I make this assertion not for dramatic effect but to bring attention to the need for us to take corrective measures. If not, this self-destructive behavior will continue to threaten the future of our families for generations to come.

How Affluent Grade Inflation Hurts Low-Income Kids

It’s that grade inflation is accelerating in the schools attended by higher-income Americans, who are also much more likely to be white, the research, by the College Board, found. This widens their lead in life over students in urban public schools, who are generally racial and ethnic minorities and from families that are far less well-off.

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