The stimulus bill may include $70 billion to $100 billion for K-12 schools. “For comparison, after the radical expansion of federal education spending that came with No Child Left Behind, the feds now spend about $40 billion per year on K-12 education,” writes Greg Forster of the Friedman Foundation for Educational Choice on Pajamas Media. But it won’t improve education.
There have been literally hundreds of empirical studies examining whether educational outcomes are related to spending increases. This body of evidence has consistently found that spending more money bears no relationship with the results we get from schools. In fact, the total amount we spend per student has more than doubled in the past 40 years, after accounting for inflation, while educational outcomes are flat over the same period.
It won’t even stimulate the economy.
To spend money stimulating the economy, government has to get the money first, removing it from the economy through taxes and/or borrowing. And when you remove money from the economy, you lose the multiplier effects from whatever people would have done with that money if the government hadn’t taken it.
But aren’t we borrowing it all from the Chinese?