According to the WashingtonPost.com, Bill Gates says President-elect Barack Obama should increase deficit spending when he comes into office.
Philip Rucker, in his article “Bill Gates Urges Obama to Increase Spending,” reports that Gates is all for increasing government spending both at home and abroad.
Gates says that it is important to stimulate the economy as well as take care of those who are very poor. Additionally he suggests that we need to continue to invest in our education.
Overseas investments would be aimed at fighting disease. This makes a great deal of sense because countries that are healthy also become markets. Good actions spawn good results.
Bill Gates should know what he is talking about. As the founder of Microsoft and world’s leading philanthropist, he has created a foundation that primarily fights for the advancement of education using a $35 billion endowment as its flagship.
Despite the current economy, the endowment yields $400 million in grants for schools.
Perhaps Obama is ahead of Gates.
Gates learned early to surround himself with the brightest and the best people. It looks as though Obama is off to that kind of start.
Gates’ endowment’s yield of $400 million would not pay the tab for California’s educational needs per student.
Interestingly enough, Gates commiserated that the Washington D.C. school system spends more per student in the country and has the worst academic results. This is where his funding is targeted.
One thing that Gates is doing that is different than the rest of the people in the news is being positive. Instead of forecasting gloom and doom, he is reminding us about the 1970’s when a lot of opportunities were discovered. In other words “Invention is the Mother of Necessity.”
Is more money needed for education?
School systems complain there is not enough money, yet, it has been proven increased spending cannot make a parent care.
Charter schools, the schools that Gates has historically funded, have had embarrassingly low achievement scores.
You should know this wasn’t a matter of inner city versus rich suburbia, the kids compared were same age, ethnicity, income and location. Privately owned educational programs working outside the power of the local school boards fail.
Further, they are sneaky about their results, releasing their failures with no fanfare.
Education is the same in my city. We just recently fired a superintendant who failed in her job and, had also failed in another state as well but the Catch-22 is that you are not allowed to do a background check on potential candidates.
It is important to focus on education because it could be the next automaker; it could be the next bank; it could be the industry that, left unchecked, will come crawling to the federal government to keep its doors open.
This country needs Bill Gates money. However, just think if we were using that annual $400 million to directly help families instead of releasing it to companies who have not proven their worth.