Archives for posts with tag: Public education spending

It seems that the share of our economy devoted to information technology is plunging, whereas the share devoted to primary metals production is soaring.  In 2000 IT was 2 1/2 times larger than primary metals.  Now primary metals is far bigger.  We desperately need to retrain Silicon Valley engineers on how to dig up copper in the Arizona desert; otherwise Silicon Valley will soon look like Detroit.
The Money Illusion


source: Modeled Behavior

In public education, it is an article of faith that 21st century students need 21st century skills, and 21st century skills are the skills you need to invent Facebook: “technology.”

Students need to learn “technology,” and to learn “technology,” students need to attend schools that buy lots of “technology.”

Maybe not.

AND SEE:
what people who do not have children in the schools pay to educate the children of people who do
how we got here
4 is not 2
budget vote
Core Knowledge: curriculum & property values

My sister says that a bar graph is much clearer than the line graphs I used in my first post. I think she’s right.

This chart shows the average size of three hypothetical employees’ annual rise:

BLUE: average Irvington teacher
RED: average employee of state and local government
YELLOW: average employee in private sector

The issue here isn’t the absolute amount of IUFSD compensation — but, rather, the speed with which it is increasing.

Every year for many years Irvington teachers have had a higher percent-increase in compensation than the average in the private sector and in state and local government. This is the difficulty, and this is what people are talking about when they say school spending is “unsustainable.”

Employee compensation can’t go up faster than taxpayer compensation forever. It’s unsustainable.

DATA:
Wages & Salaries: Private Industry Workers (FRED)

Wages & Salaries: State and Local Govt (FRED)
AND SEE:
4 is not 2