I was excited for a second when I saw an article titled “High school students face hard lesson in economics”. Turns out, it’s just about the impending burst of the public education bubble that was fueled by stimulus money:

The federal government’s $787 billion economic stimulus package saved an estimated 300,000 education jobs for this year, but many of those positions are once again in jeopardy as that money dries up.

“Literally tens of millions of students will experience these budget cuts in one way or another,” said Education Secretary Arne Duncan, who is urging Congress to provide another round of emergency funding for schools. “If we do not help avert this state and local budget crisis, we could impede reform and fail another generation of children.”

Ideally, the students would actually get a hard lesson in economics: there ain’t no such thing as a free lunch.

But with the Secretary of Education begging for more money to sustain this, the easy lesson they’ll probably learn is that the best way to maintain the quality standard is through deficit spending. “We’re all Keynesians now”, indeed.

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