I find it interesting that Congress wants to cut funding for education in order to keep the deficit down. I find it ironic that they even consider doing it right now when our economy is so fragile. According to Mark Zandi of Moody's Analytics, this could result in the loss of over 700,000 jobs. What? Yes. 700,000 jobs. Just what we need.....higher unemployment.
Richard Koo who is is the Chief Economist of Nomura Research Institute also has an interesting view. He says that cutting the stimulus packages, and especially cutting educational funding is the absolutely wrong thing to do.
Check out his video:
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