Connect with us

Hi, what are you looking for?

Please enter CoinGecko Free Api Key to get this plugin works.

Investing News

States, Don’t Fear the Education Department Reaper

Neal McCluskey

NBC News has a story today about state education officials living in fear that President Trump will eliminate the US Department of Education (US ED). “States brace for Trump’s plans to dismantle the Education Department,” the headline intones.

Fear not: Plans to end US ED do not spell doom.

As I explain in this one-pager for states, to the extent that we have seen concrete plans for what to do with US ED—we are still awaiting the Trump proposal —it has been to move the department’s functions to various other departments where they make sense to be, such as civil rights enforcement to the Department of Justice and student loan management to the Treasury Department. And big spending cuts are likely not to be in the offing, as secretary-nominee Linda McMahon indicated during her confirmation hearing.

That said, any cut to federal spending would not be especially big. While the federal share of public elementary and secondary school revenue goes up and down from year to year, over the past roughly five decades, it has averaged only about 9 percent of the total. And remember, federal money comes from taxpayers who live in states and districts. If they keep their money, it will be there for state, local, or personal use. Or to help reduce our truly frightening $36.5 trillion national debt.

So let’s keep our heads about us. Plans to end US ED are not plans to end education … at all.

You May Also Like

Investing News

Investor Insight For investors with an eye on mining stocks, New Murchison Gold (ASX:NMG) presents a unique opportunity. The company’s shallow, high-grade Crown Prince...

Investing News

Mike Fox As a former public defender, my clients often faced an impossible choice: plead guilty to a crime they knew they didn’t commit...

Finance News

Shares of GameStop and MicroStrategy were on the rise Monday after Ryan Cohen, CEO of the video game retailer, posted a photo with Michael Saylor, co-founder and chairman...

Investing News

Tad DeHaven A 2011 poll taken during the Obama administration found that 60 percent of those surveyed believed that the federal budget could be...



Disclaimer: financehightech.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.