Investing in Education Now Brings Returns in Future
By Assemblywoman Julia Brownley
Businesses know that smart investments are the key to future growth. Governments also make smart investments such as the one California made in higher education after adopting a master plan in 1960. Many today credit California universities for its ranking as the eighth largest economy in the world and as an incubator for high technology, biotechnology and agricultural advances.
California’s leadership in education and the economy, however, is in danger of slipping. State education spending fell by $17 billion over the last three years, forcing schools to shorten the school year, increase class size, close school libraries and eliminate summer school among other actions.
Ignorance Index II: The Spending Cuts Myth
By Robert Borosage
Conservative Republicans hold as an article of faith that cutting government spending creates jobs, even in the midst of a recession. House Majority Leader Eric Cantor, the conservative zealot who has personally blown up the debt ceiling talks twice over the mere hint of closing tax loopholes,says, “All of our efforts are centered around jobs – starting with cutting spending and federal regulations – to grow the economy so that people can get back to work.”
But this is nonsense. There’s no economic theory that would suggest that in current conditions, cutting government spending would create jobs.
Despite the conservative mantra that “government doesn’t create jobs, the private sector creates jobs,” even Cantor and Republican conservatives admit, news flash, that cutting government spending will cut government jobs.