Campaign 2016 has already begun for the GOP. Promoting their platforms and badmouthing track records of opponents, players like Donald Trump are testing the waters. Meanwhile, the Democrats are on-hold until Hillary Clinton ceases the Hamlet-positioning of indecision.
One meme for both parties is the mandate for financial literacy. The American Dream is not dead.
What has changed is that it demands deeper understanding of financial fundamentals. Both parties can show (in communications, you show, not tell) that reality through the economic saga of Ghana immigrants Comfort and Kofi Boateng. They could still be living the American Dream had they a firmer grasp of the risks involved in buying real estate, funding a business with a loan and, although older, taking out a loan for education.
In The Washington Post Kimbriell Kelly chronicles how this couple wound up $1.3 million in debt, with a current annual income of about $100,000. The journey from Ghana to the American Dream started out well.
Together they were grossing about $110,000 from work. They assumed that income would be, well, guaranteed. When the higher earner lost his job, their mortgage payments for two residential properties precipitated the beginning of the end of financial security. The rest represents the lousy judgment we mortals tend to exercise when our financial affairs start to unravel.
The slogan for '16 could be "Think Smart, Act Smart About Money." It will resonate. The Q3 2014 GDP growth was 5%. The national ethos has shifted from survival to a shot at wealth. The nominee who will win the White House will create the playbook for how to do that.