Bail out our schools

[jotsy]

by Robert Reich


Any day now, the Obama administration will announce $4.35 billion in extra federal funds for under-performing public schools. That's fine, but relative to the financial squeeze all the nation's public schools now face it's a cruel joke.

The recession has ravaged state and local budgets, most of which aren't allowed to run deficits. That's meant major cuts in public schools and universities, and a giant future deficit in the education of our people.

Across America, schools are laying off thousands of teachers. Classrooms that had contained 20 to 25 students are now crammed with 30 or more. School years have been shortened. Some school districts are moving to four-day school weeks. After-school programs have been canceled; music and art classes, terminated. Even history is being chucked.

Pre-K programs have been shut down. Community colleges are reducing their course offerings and admitting fewer students. Public universities, like the one I teach at, have raised tuitions and fees. That means many qualified students won't be attending.

Last year the nation committed $700 billion to bail out Wall Street banks, the engines of America's financial capital, because we were told we'd face economic Armageddon if we didn't.

We've got our priorities backward. Our schools are the engines of our human capital, and if we don't bail out public education we face a bigger economic Armageddon years from now.

Financial capital moves instantly around the globe to wherever it can earn the best return. Human capital – the skills and insights of our people – is the one resource that's uniquely American, on which our future living standards uniquely depend.

Starting immediately, the federal government should give states and local governments interest-free loans to make up for all school and university budget shortfalls. The loans can be repaid when the recession is over and local and state tax revenues revive.

Over the longer term we must shift incentives away from financial capital toward human capital. A tiny one half of one percent tax on all financial transactions would generate about $200 billion a year, according to the Economic Policy Institute. That might put a crimp on Wall Street bonuses but it's enough to fund early childhood education, smaller K-12 classes, and lower tuitions and fees for public higher education.

The Street's financial capital is important to the American economy, but over the long term the classroom's human capital is absolutely crucial.

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If we don't invest in the competent citizenry of the future, the one we'll have isn't going to be one we much want.

[Newsjock]

1. Alas, this too is planned

A "competent citizenry" asks difficult questions and is not compliant and docile.

[Patchuli]

3. I think those that "plan" such things

tend to underestimate how much bullshit people will exactly take before it becomes hazardous to the wanna-be feudal sob.

[w4rma]

2. I ask: Is the $4.35B to privatize "under performing" schools or to help under performing schools? nt

[jotsy]

4. What I believe I see coming is a U scan at the grocery store approach in an

educational setting. I say man as machine is not merry in the making.

Probably the former, but I'd need to do some digging to say that with any certainty.

[sandnsea]

5. $100 billion stimulus money for schools

More than $100 billion in federal economic stimulus will help public schools and colleges survive the recession over the next two years, and for districts in dire straits, that money is a lifeline.

http://www.stateline.org/live/details/story?contentId=406164

Race to the Top is a separate program to help failing schools. It is not targeted to funding teachers who would otherwise be cut due to lack of state funding.