New America Policy Papers

In an October 2007 letter to the Federal Communications Commission (FCC), executives from the four largest TV networks told the Commission that proposals to allow low-power Wi-Fi type devices to operate on vacant TV channels, “could cause permanent damage to over-the-air digital television reception." Such a dire warning would ring alarm bells for policymakers, if not for the fact that similar nightmare scenarios have been predicted before.

Executive SummaryComprehensive strategies for educating children and youth so they can become effective managers of money and successful navigators of a complex financial marketplace have not yet emerged from the dialogue and debate surrounding financial education. A rich and growing body of research about adult financial education exists, but youth financial education research has been slower in developing. While some consensus has emerged regarding best practices for adult financial education, these strategies and approaches cannot simply be reengineered down to more age-appropriate versions and imposed on… more

Background

The United States is in the midst of an economic crisis. Financial institutions are failing, the credit markets are frozen, and global stock markets have experienced large-scale losses. This crisis has also had significant effects on the "real" economy. Home values have tumbled, consumption has dropped, and jobs are disappearing.

During economic downturns, the government regularly takes actions to try to combat the effects of the decline. Most of its actions fall into one of four categories: monetary stimulus, fiscal stimulus, targeted… more

Baker, C. and D. Dylla (2007). "Analyzing the Relationship Between Account Ownership and Financial Education." New America Foundation. Abstract: Account ownership and financial knowledge are understood to be critical components of financial stability and wealth accumulation. Presumably, combining financial education and accounts reinforces the positive effects of each on the other and enhances the recipient's financial well being. To date, however, no testing of this hypothesis has been undertaken. This report sets out to do that. It presents a review of programs across the country that… more

When Congress resumes consideration of the reauthorization of the No Child Left Behind Act, strengthening the federal role in supporting high school reform will be a key issue on the agenda, and with good reason. While elementary school students, on whom most of NCLB’s funding and accountability requirements focus, have made significant achievement gains in recent years, high school achievement has stagnated. Only 70 percent of high school freshmen graduate within four years. Among those who do make it to… more

Although the State of California currently offers its residents a 529 college savings plan through the ScholarShare program, the investment vehicle lacks incentives that encourage low- and middle-income individuals to participate in the program. Other U.S. states offer a variety of attractive incentives, such as matching contributions and state tax deductions. Californians are ready to adopt a stronger and more incentive oriented 529 plan that will encourage families to build savings for their children's college education. Postsecondary

Financial services decisions can have enormous consequences for household well-being. Households need a range of financial services-to conduct basic transactions, such as receiving their income, storing it, and paying bills; to save for emergency needs and long-term goals; to access credit; and to insure against life's key risks. But the financial services system is exceedingly complicated and often not well-designed to optimize household behavior. In response to the complexity of our financial system, there has been a long-running debate about the

In late May, some 40 Pakistani journalists received a summons to an unusual press conference held by Baitullah Mehsud, the rarely photographed leader of the Pakistani Taliban, who is accused of orchestrating the 2007 assassination of Benazir Bhutto, sending suicide bombers to Spain earlier this year, and dispatching an army of fighters into Afghanistan to attack U.S. and NATO forces in recent months. Surrounded by a posse of heavily armed Taliban guards, Mehsud boasted that he had hundreds of trained suicide bombers ready for martyrdom.

It was… more

As we enter the home stretch of a long presidential campaign, the good news is that both major candidates recognize that our health care system, especially the insurance marketplace, does not work well. The concept of selling health insurance across state lines has been included in health care proposals put forth by several Members of Congress and most recently in the campaign plan of Republican presidential nominee, Senator John McCain.

Allowing insurers to sell insurance across state lines… more

Overview

Each year the federal government provides hundreds of billions of dollars in incentives for families to save and build wealth through the tax system. Low-income families, however, are not eligible for most of these tax incentives because they are poor. Low income families, like any other household, need to save to gain economic mobility and financial stability. Research has also shown that despite their low incomes, poor families can and do save when presented with the right incentives and methods… more

Overview

Over the past two decades, policymakers, academics, and others have pursued an array of policies and strategies to help lower and middle income households build savings and assets and access reasonably-priced financial products. While progress has been made, there have been few advances to delivering a high-value, affordable financial product at scale.

In an ongoing debate about the relative costs of the federal government’s direct and guaranteed student loan programs, some budget experts and private lenders have argued for the use of “market cost” estimates. They assert that official government cost estimates for federal student loans differ from what private entities would likely charge taxpayers to deliver the benefits and services the program provides. A market cost estimate would take such information into account.

Each year the federal government provides hundreds of billions of dollars in incentives for families to save and build wealth through the tax system. Low-income families, however, are not eligible for most of these tax incentives because they are poor. Low income families, like any other household, need to save to gain economic mobility and financial stability. Research has also shown that despite their low incomes, poor families can and do save when presented with the right incentives and methods… more

This paper, written for Furman Center at New York University in May 2008 by New America Foundation's Ellen Seidman and the Center for American Progress' Andrew Jakabovics, discusses asset disposition lessons learned from previous financial crises -- including the activities of the New Deal-era Home Owners Loan Corporation, the Resolution Trust Corporation formed in the wake of the savings and loan crisis, and the Department of Housing and Urban Development's more recent Asset Control Area program to dispose of foreclosed… more

Infrastructure and Economic Opportunity

Every minute in the United States, an ambulance is turned away from a hospital because of a practice known as ambulance diversion. Diverting ambulances away from emergency departments (EDs) poses a serious threat to the health outcomes of both the insured and uninsured population. Ambulance diversions also indicate a struggling health system in need of comprehensive delivery system reforms.

What is an Ambulance Diversion?

An ambulance diversion occurs when a hospital ED cannot care for additional emergency patients.… more

The current economic downturn, triggered in part by excessive household debt and deflating housing prices, underscores the central role asset ownership plays in the economic security of American families and the broader economy. Broad asset ownership, whether through savings or investment, has the potential to connect economic opportunity with economic security and ensure that every member of society is afforded a real stake in the commonwealth. Assets are important not only because they can be deployed productively or tapped to help individuals and families weather unexpected events, but… more