It's virtually common knowledge that the more educated a person is, the more money they make (and in turn the more tax revenue they generate) as well as the less money they consume (either through social services and/or jail.)
So why, now, of all times are we cutting funding to public education?
We are in a financial situation where not only do we have a high debt but we can't even pay for all the things we want on a daily basis. This is a short sighted stop gap solution that is going to burn us far down the road.
And while we are on the subject: Why are there no public colleges? School is paid for by the government all the way up to high school where it suddenly stops. Why is the only option private college? And college isn't an elective anymore. A high school diploma isn't enough anymore. Two year and four year college degrees are requirements now for a middle class existence since our economy is using mechanization rather than manpower to reduce the costs of labor and increase productivity.
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As you mentioned, we're in high debt. This debt is the most serious issue facing the nation today because it severely increases inflation and borrowing rates, destroys investor/consumer confidence, and leaves trillions of dollars for our children and grandchildren to have to pay off. If we can cut this debt down to manageable levels, confidence will finally return to the markets and the private sector will start hiring again. We also won't be leaving an economy in a precarious situation for our children. So cutting the debt means making sacrifices everywhere, and everyone is tightening their belts across the board. Education is just one of those places that spending has to be cut. But it will lead to a more robust economy and a better country. Yeah, literally none of that is true. But it [i]is[/i] the "logic" debt fanatics use to justify policies that have been proven to work in Fairyland.