Ray Boshara

Sponsored By:The New America FoundationPolicyAmericaCenter for Social Development, Washington UniversityInstitute on Assets and Social Policy, Brandeis University

A key question the panelists and audience explored was, "What are the components of the next generation of anti-poverty policies in the U.S.? What roles do asset building and financial services play? What are the other components? And how can a new anti-poverty agenda move forward?

Asset building has the potential to influence and reshape a wide range of social and economic policy debates around the world—but presently there is little trans-Atlantic or global dialogue on the issue. In Europe, for example, debates about social insurance, fiscal policy, pension reform, social exclusion, poverty reduction, and expanding Europe’s middle class are largely devoid of the assets perspective. In the U.S., and to some extent Europe and Australia, we could be approaching a “tipping point” around the importance… more

The purpose of this annual report is to summarize and assess federal assets policy efforts from last year, in the President’s new Budget, and for the coming session of Congress. While not intended to be exhaustive, this report identifies almost $320 billion in resources related to asset building included in the Bush Administration’s 2005 Budget. The overwhelming majority of these resources, $302 billion, are catalogued as tax expenditures, while almost $17 billion of discretionary spending is proposed.

Overall, this report… more

This menu of policy options was written with federal policymakers in mind. It reflects the latest and best thinking, and draws heavily on the work of many experts focusing on various facets of savings and asset-building policy. As there are many policy routes to broadening savings and asset ownership, there is necessarily some overlap among the ideas presented below. The proposals are at varying stages of development—some (such as Individual Development Accounts) are fully developed, others (on asset protection, for… more

Based on the assumption that lifelong learning is a form of asset accumulation, this paper discusses a range of financing strategies. The paper includes a summary of what has been learned about assets, both from research and demonstrations largely centered in the U.S. While the evidence strongly suggests that assets are worth accumulating for both economic and social reasons, this begs the question, how can the poor possibly accumulate assets? To answer this question, we closely examine the U.S. experience… more

Prime Minister Tony Blair of Britain came to Washington last week to bolster President Bush against his critics on Iraq. Let's hope the two leaders found a moment to discuss domestic policy as well -- particularly Mr. Blair's effort to give every child a stake in Britain's economic future.

Each British baby born after last Sept. 1 will receive a trust fund worth at least $400, and up to $800 for the poorest one-third of children. The government will make smaller… more

Michael Sherraden’s (1991) groundbreaking idea of building assets for low-income persons has made remarkable progress at the federal level in the United States (U.S.) over the last decade, for three reasons. First, policymakers have easily grasped both the distinction between income and assets, and the importance of assets. Second, the idea debuted and progressed as the nation and policymakers were highly receptive to new ideas for ending welfare and poverty. And third, data generated (Schreiner et al., 2000 and 2001)… more

To greatly expand opportunity, to broaden asset ownership, and to fortify the American economy for the long-haul, an American Stakeholder Account (ASA) should be established for every child born in America and made available to all other persons age 18 and under. Over time, this “Homestead Act of the 21st Century” will evolve into a universal system through which all Americans can meet their asset needs throughout life— securing post-secondary education and life-long learning, purchasing a first home, making investments,… more