A Cheer from the Left, A Cheer from the Right

The promise of enacting meaningful asset building policies which redirected large sums of federal subsidizes toward the poor has long been that it attracks support form both sides of the political aisle. The ASPIRE Act, which would create a universal savings account system accessible by every newborn, came out of the gate back in 2004 with conservative and liberal co-sponsors. Conservative like that people are given a taste of ownership and liberals like that everybody gets included.

This diversity was reinforced again this week when a new bipartisan gropup called the Poverty Forum trumpeted a series of proposals aimed at ameliorating poverty. Headed by the progressive activist Rev. Jim Wallis and former Bush Speechwriter Michael Gerson, the group highlighted the potential of asset building and called on the government to get behind a set of significant but doable policies, including matched savings accounts for lower income workers. Yesterday in his Washington Post colum, Gerson makes the case directly:

“There are, in fact, creative new approaches rattling around the ideological spectrum — programs to subsidize asset building among the needy instead of encouraging debt (a la Fannie Mae), to promote financial education, to give states more flexibility and resources in targeting help to low-income areas…”

Two cheers for the Poverty Forum and their efforts to set politics aside and find the common ground. Perhaps Rep. Boehner will take their call.