"Education in personal finance and economics means empowerment, because it can provide people with the tools they need for sound decision making," said Senator Akaka. "Unfortunately, many individuals do not understand even the basics of our complex economic system. Although much continues to be done to provide more Americans with an education in personal finance and economics, a number of troubling indicators show that many people are ill-equipped to negotiate life's financial choices."

Senator Akaka has been a champion for financial and economic literacy in our country and has made a significant difference in his home state of Hawaii.

Senator Herb Kohl (D-WI) noted, "In recent years, the work of Senator Akaka and others have focused attention on the threat posed by our Nation's high financial illiteracy rate. For example, Senator Akaka's Excellence in Economic Education Act promotes financial literacy in primary and secondary schools. Many groups have developed innovative programs to reach children of all ages on this topic, and increased access to formal economics classes has helped acquaint students with the financial services marketplace."

Co-sponsors of this resolution include Senators Dan Inouye, Paul Sarbanes (D-MD), Thad Cochran (R-MS), Frank Lautenberg (D-NJ), Herb Kohl (D-WI), Debbie Stabenow (D-MI), James Talent (R-MO), Blanche Lincoln (D-AR), Mike Crapo (R-ID), Tim Johnson (D-SD), Christopher Dodd (D-CT), Mel Martinez (R-FL), Richard Durbin (D-IL), Jim DeMint (R-SC), Max Baucus (D-MT), Dianne Feinstein (D-CA), Norm Coleman (R-MN), and George Allen (R-VA).