A federal government that is $15.6 trillion in debt is currently using its “bully pulpit” to run 16 different programs to teach citizens “financial literacy,” according to the Government Accountability Office, the accounting agency of the U.S. Congress.
Previously, relying on a study by the RAND Corporation, the GAO had
reported that the federal government operated 56 programs to teach
citizens “financial literacy.” However, it subsequently determined that
16 was a better count of what it called the government’s “significant
financial literacy programs.”
Even among these 16 federal programs that teach citizens “financial
literacy,” the GAO found that there is some duplication of efforts and
no definitive way to measure the programs’ effectiveness.