In this episode of To the Point, Jim Horne and Doug Mesecar delve into the impact of the new debt ceiling on education. They discuss the deadline to obligate funds, the flexibility provided by the Federal government on forward funding, and the hesitation of states and districts to pay for things they haven't received. The co-hosts also question the amount of money needed for education and whether continuous funding is necessary, considering the country's $32 trillion debt.
They analyze the money being discussed, which is only at the federal agency level and has not yet been distributed down to the field. The episode highlights the relatively insignificant amount of $400 million compared to the total amount of $122 billion for the American Rescue Plan, and the potential impact of spending caps on future appropriations. The co-hosts emphasize the importance of evidence-based education strategies and maximizing available funds' impact. They also discuss the implications of capping and clawing back funds for school districts, and the concerns of potential reductions in funds that have yet to be spent.
Timestamps
00:01:48 $400 million of unspent administrative funds not affecting state/local education. Stimulus money is still there, but no new infusion of federal dollars. Flat funding for normal appropriations is likely. Challenge ahead for states and districts.
00:05:07 The co-hosts discuss the deadline, obligation of funds, flexibility in funding, concerns about spending levels, and the need to balance current resources with future funding.
00:07:15 Debt impact and return on investment of the American population's spending is questioned. Uncertainty remains on the effectiveness of the expenditure.
00:10:15 The need for action on reading and math education, investment concerns, and the importance of money enforcement.
00:13:52 The president's budget reflects priorities. About $90 billion of ESSER funds remain unspent. Approximately 20-30% of existing funds are obligated but not spent. $60-70 billion should be spent by January 2025. This represents 10% of annual K-12 education spending. This crisis is an opportunity for transformation.
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