Vermont gets an ‘A’ for financial security of families

first_imgIndividuals and families in Arizona, South Carolina and the Delta states of Mississippi, Louisiana and Arkansas lag behind the rest of the country in key aspects related to their financial stability, including measures of net worth, homeownership and housing affordability, business ownership, health insurance coverage and academic achievement. These states received an overall grade of “F” on the 2009-2010Assets & Opportunity Scorecard, which rates states not only on poverty and job figures, but also on a broad set of categories and measures related to sustained prosperity. The Scorecard was released today by the Corporation for Enterprise Development (CFED), a national economic nonprofit.CFED’s Assets & Opportunity Scorecard — online at scorecard.cfed.org — measures the financial security of families in the United States by looking at the whole picture of asset ownership and protecting against financial setbacks. The Scorecard ranks the 50 states and the District of Columbia on 58 performance measures in the areas of Financial Assets & Income, Businesses & Jobs, Housing & Homeownership, Health Care and Education. In addition, the Scorecard also assesses states on the strength of its policies to help individuals and families build financial security.”As the country recovers from this recession and tries to build a more durable and robust economy, decision makers need to look at a broad picture of where Americans stand, and what policies are in place to address economic vulnerabilities. The Scorecard provides that perspective,” said CFED President Andrea Levere. Levere also pointed out that every state has weak areas, and that even the states that received “F” grades perform well in some categories.Nationally, the Scorecard notes that even before the current recession, economic vulnerability was increasing, especially among low- and middle-income families. Among the findings:While U.S. households overall registered a 27% increase in net worth between 2004 and 2006, median net worth fell during that period for the 40% of U.S. households earning less than $37,000 a year.The number of individuals with employer-provided health insurance fell sharply, to 60.9% from 63.2%, leaving more Americans vulnerable and financially unprepared for health emergencies.Between 2006 and 2008, median amount of revolving debt, including credit card debt, rose 64% from $1,805 to $2,960.While more than one in eight households live below the federal income poverty line, nearly double that amount (22.5%) are asset poor, meaning they have insufficient assets to stay out of poverty for three months in the event of job loss. More than 14% of American households live in extreme asset poverty, meaning they have zero or negative net worth.For every dollar in wealth held by white households, African-American households have 10 cents and Latino households have 15 cents.The national leaders on the 2009-2010 Scorecard — those states that earned an overall “A” in performance measures — were Hawaii, Iowa, Kansas, Maine, Massachusetts, Minnesota, New Hampshire, Vermont, Washington and Wyoming. Grades and detailed data for all states is available at scorecard.cfed.org.By comparing the states, the Scorecard not only highlights the strengths and weaknesses of each state, but it also exposes the wide differences between states on a number of items directly tied to financial prosperity. Some of the findings include:More than 22% of jobs in this country are in occupations that pay a median wage that is insufficient to raise the earner’s household above the poverty line. In West Virginia, 38.5% of jobs are low-wage. Washington, D.C. has the lowest percentage of low-wage jobs at 7.2%.The highest homeownership rate is in Minnesota (nearly 75%) while New York has the lowest homeownership rate at 53%.The average home in Kansas costs about twice the median income of a Kansan; in Massachusetts, the average home runs six times the state’s median income.89.6% of employers in Hawaii offer health care benefits to their employees compared with only 40.1% of those in Montana.More than 91% of the people in Massachusetts have health insurance while only 72.5% of Texans are insured.The Scorecard includes a detailed look of state-to-state information on 12 policy priorities that can help residents build and protect assets. Information on each of these policies — which range from first-time homebuyer assistance and payday lending protections to college savings incentives and access to health insurance — is available atscorecard.cfed.org. While every state has enacted at least a handful of these policies, the Scorecard’s assessment of these policies shows there is significant room for improvement.”These policy priorities are not radical ideas, but things that many states are trying right now,” Levere said. “But when we look at the funding, the scope of their efforts and the enforcement of regulations, we find that in most cases states haven’t been putting a very strong commitment into their efforts.”As part of its Scorecard work, CFED has formed partnerships with advocacy organizations in 25 states to utilize theScorecard to educate policy makers and the public on policies that can help Americans build and protect assets and financial security, and to improve policies at the state level.CFED expands economic opportunity by helping Americans and their children build assets, save for the future, start and grow businesses, pursue education and become homeowners. We identify, refine and help realize good ideas and develop partnerships to promote lasting change. We bring together community practice, public policy and private markets in new and effective ways to achieve greater economic impact. Established in 1979 as the Corporation for Enterprise Development, CFED works nationally and internationally through its offices in Washington, DC; Durham, North Carolina; and San Francisco, California.To stay up-to-date on the latest news from CFED, follow us on Twitter at www.twitter.com/CFEDNews(link is external).To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/cfed/39626/(link is external)(Photo: http://www.newscom.com/cgi-bin/prnh/20090921/NY78564(link is external) )Source: CFED. WASHINGTON, Sept. 21, 2009 /PRNewswire/ —last_img read more

TALK AFRICA: NIGERIA UNDER BUHARI

first_imgIt’s now been more than 100 days since Muhammadu Buhari was sworn in as Nigerian president, and he has already showed renewed vigour in the War against Boko Haram and clamped down on government corruption. But Africa’s biggest economy is still in a slump and Buhari is yet to appoint a cabinet. So what exactly has been achieved under the APC? And has life been made better in Nigeria Under Buhari?last_img

Kemba Walker uncertain about Hornets future: ‘I want to win’

first_img“I don’t think it’s started yet,” Walker said. “I think now the work begins for those guys. They’ll figure it out.”While Walker showed confidence in the Hornets’ front office, many have questioned whether Charlotte will figure it out in time to retain the All-Star guard. In Walker’s eight Hornets seasons since being drafted ninth overall in 2011, Charlotte has made the playoffs just twice and didn’t advance past the first round either time. NBA playoffs 2019: Updated odds to win the championship Kemba Walker has just one thing on his mind when he enters free agency this summer — he wants to win. For the Hornets veteran guard, his upcoming decision won’t be based solely on money. Instead, it’ll be about whether Charlotte can prove to be a winning franchise. “I want to win; I want to win,” Walker told reporters during his exit interview, per the Charlotte Observer. “That’s something that I’m going to have to really sit down and think about with my family, with my agent, with the people closest to me in my life that will help me make that decision.”Asked Kemba what’s most important to him as he makes his decision. Is it winning, money, happiness? pic.twitter.com/Uix0DWPvfx— Rod Boone (@rodboone) April 11, 2019The Hornets missed the playoffs for the third straight season, finishing ninth in the Eastern Conference (two games back from the eighth-ranked Pistons) with a 39-43 record. Walker explained that the Hornets will have to show him that they have the ability to build sufficient talent around him. Related News The questions surrounding Walker’s pending free agency decision have come up throughout the season, and he was asked about it after the Hornets were eliminated from playoff contention with a 122-114 loss to the Magic on Wednesday. “I’m not sure,” Walker said after the game when asked if he will be back with the Hornets next season, per NBA.com. “I have a long time to even start thinking about that stuff. Me and my agent, my family, we will discuss that stuff when the time is right.”A three-time All-Star, Walker, 28, is coming off a season in which he averaged a career-high 25.6 points as he played in all 82 games for just the second time in his career.last_img read more