Behind the Headline: In Shutdown Debate, Focus Should Be on Growth instead of Deficit
On Top of the News
In Shutdown Debate, Focus Should Be on Growth instead of Deficit
10/13/13 | Washington Post
Behind the Headline
Education and Economic Growth
Spring 2008 | Education Next
In an op-ed in the Washington Post, Larry Summers argues that politicians need to stop arguing about debt limit extensions and budget deals and start focusing on economic growth. “Projections that there is a major deficit problem are highly uncertain. And policies that indirectly address deficit issues by focusing on growth are sounder in economic terms and more plausible in political terms than the long-term budget deals much of the policy community is obsessed with.”
“Education and Economic Growth,” published in Education Next in 2008, looks at the impact of raising education quality (as measured by test scores) on a country’s economic growth.
The topic is explored in more detail in Endangering Prosperity, which demonstrates that if our schools could educate our students to a level of accomplishment achieved by other countries, the returns on our education investment would be so vast that much of the entitlement and legacy costs that now threaten the nation’s well being could be addressed with resources to spare.