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Obama Is Wrong, Yet Again.

February 5, 2009

In an article by director of Cato’s Center for Educational Freedom Neal McCluskey, Neal compares President Obama’s rhetoric about more government funding to former President Jimmy Carter who created the Department of Education.

President Carter, of course, got his Department of Education, and schools have also gotten a lot more money, as Adam Schaeffer and I pointed out yesterday. Indeed, looking specifically at the period between 1979-80 and 2004-05 (the latest for which data is available), inflation-adjusted, per-pupil expenditures in public elementary and secondary schools rose from $6,549 to $11,470, a 75 percent increase. And total federal education funding? Adjusted for inflation, In 1980 Washington spent or helped to provide $94.5 billion. By 2006, that figure had ballooned 146 percent, hitting $232.0 billion!

Throwing money at the problem  has not worked, and Obama is throwing more money. Sounds to me like throwing more money down the drain to me. I recommend you read the full article here, and read future CATO blogs and articles. It is a great site and organization to learn about sound economics in a world where the conventional wisdom is to have the government solve your problems.

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