We envision an opportunity economy, where we are all empowered to build more prosperous futures for our families, our communities and our country. Nearly 50 million of us are working hard every day to make ends meet. We’re doing everything right to provide for our children. We pay our taxes. Many of us have college degrees. Many of us even hold two or three jobs. And yet we’re not getting ahead. For us, the American Dream has indeed been deferred. More than half of us cannot get an affordable loan to advance our aspirations or cover an emergency. One in five pay more than we should for basic financial services. For nearly half of all households and nearly two-thirds of households of color, financial ruin is one crisis away.
This has to change.
CFED believes that we need an opportunity economy—one that allows all of us the chance to build a more prosperous future for our families, our community and our country. In an opportunity economy, the pathways to prosperity are paved. There are roadmaps to guide us through financial decisions. The on-ramps to the financial highway are open to everyone; we all have the opportunity to save for the future, buy a home, sustain a business and get a good education. We’re on our way toward this vision.
To achieve our vision, we need four basic building blocks:
- We need concrete solutions that really work to create opportunity and reduce inequality.
- We need to clear away the structural barriers to opportunity that are embedded in our federal, state and local policies.
- We need a constituency to engage and mobilize in support of policies and solutions that expand opportunity.
- We need a vision that will powerfully articulate the promise of the opportunity economy.
CFED is pleased to share our new Strategic Plan, Building an Opportunity Economy: Reducing Wealth Inequality and Expanding Prosperity for All Americans. Over the next three years, we will embark on a renewed effort to open the door to an opportunity economy for all—where each of us can contribute and build a more prosperous future for ourselves, our communities and our country.