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

Reds hit struggling Cardiff for six

first_img Press Association Brendan Rodgers’ team went behind on two occasions in the first half as Jordan Mutch and then Fraizer Campbell struck for the relegation-threatened hosts. But Skrtel claimed Liverpool’s second equaliser just before the break following Suarez’s 16th-minute effort from close range, before Cardiff were finished off during a devastating six-minute spell. Luis Suarez scored a hat-trick and Martin Skrtel struck twice as Liverpool underlined their Barclays Premier League title credentials in a thrilling 6-3 win at Cardiff. But it took Cardiff just nine minutes to open the scoring and Liverpool could have few complaints as Campbell’s impressive approach work created space that allowed Mutch to drive the ball home past Simon Mignolet. Mutch’s strike, though, stirred Liverpool into action, and they equalised seven minutes later when Jordan Henderson found Glen Johnson, and his slide-rule delivery was tucked away by Suarez. Suarez’s 26th goal of the season could easily have deflated Cardiff, yet they continued to play with an accuracy and tempo that belied their lowly league status. And that enterprise was rewarded when Campbell turned Daniel Agger inside out before finishing brilliantly past Mignolet to put Cardiff 2-1 up after 25 minutes of an enthralling contest. Liverpool tried to assert themselves on proceedings but they had to wait until four minutes before half-time before Cardiff could be punished for a second time. This time it was Coutinho who played in a telling pass from the left, and Skrtel inched ahead of Cardiff’s central defenders to deliver a left-footed finish past goalkeeper David Marshall. Marshall then had to save at Suarez’s feet in the final act of a gripping opening 45 minutes that saw Cardiff make light of trailing Liverpool by 37 points before kick-off. But Liverpool went ahead nine minutes into the second half when Skrtel pounced for his second, heading home a Coutinho corner. Cardiff, though, could feel aggrieved that referee Neil Swarbrick allowed the corner to be taken with Cardiff pair Theophile-Catherine and Mutch both on the touchline waiting to return after receiving treatment for knocks. It was rough justice on the home team, and Suarez rubbed their noses in the dirt six minutes later with another cool finish following a Sturridge back-heel that set the Uruguayan up. Suarez returned the compliment by providing the assist for Sturridge to post Liverpool’s fifth goal, and while Cardiff hardly deserved such a beating, there was no disguising the fact they had ultimately been crushed by a team oozing confidence, even though there was enough time for Mutch to cut the deficit and Suarez to claim his hat-trick. Skrtel’s 54th-minute header from a corner put Liverpool ahead for the first time, and then an audacious back-heel by Daniel Sturridge gave Suarez all the room he needed to make it six league wins on the bounce. Sturridge scored 15 minutes from time to continue Liverpool’s irresistible form and keep Cardiff in deep trouble and, despite Mutch claiming a consolation goal two minutes from the whistle, Suarez pounced deep in injury time. Liverpool remain four points behind leaders Chelsea with a game in hand, and Rodgers will breathe a sigh of relief after Cardiff arguably produced their best display during Ole Gunnar Solskjaer’s managerial reign. But when the Reds turned up the heat, Cardiff could not live with their precision passing and quality finishing, meaning they remain in the relegation zone with just seven games left. Rodgers made just one change from the side that beat Manchester United 3-0 at Old Trafford last weekend, with Philippe Coutinho taking over from Raheem Sterling. There was further pre-match evidence of discontent among Cardiff fans when supporters staged a peaceful protest against the club’s controversial rebrand under owner Vincent Tan from blue to red. A number of supporters’ groups combined to march to Cardiff City Stadium from a nearby pub, with many fans wearing blue inside and outside the ground. Cardiff dominated the opening exchanges, going close from a free-kick after Liverpool captain Steven Gerrard was cautioned for fouling Campbell, then Kevin Theophile-Catherine blasted over the bar. last_img read more