The US economy is largely influenced by consumers and producers. Government activities, however also play a huge role in molding the US economy. This is because the government is the one tasked with guiding the overall pace of the economy, maintain its steady growth, increase the levels of employment as well as provide price stability. The government does this by adjusting spending and tax cuts or managing the money supply as well as controlling the use of credit in the country all in an attempt to speed up or slow down the rate of economic growth. One of the most important departments in the federal government is the US department of education mainly because of its role of educating the people and facilitating development of the country as a whole (US Department of state, 2012).
It follows therefore, that the federal government allocates the department money in each budget to ensure its operations run smoothly. Once this funding is allocated to the department, the department, then allocates funds to the different states through statutory formulas. The states then allocate the funds to school districts through formulas and competitive grants. This chain of monetary transfer has had significant influence on the dynamics of the US economy (cordes, Ebel, & Gravelle, 2005).
[...] This percentage currently stands at of the national expenditures on education. This is also spent on other federal agencies such as the department of health and human services head start program among others. The department education receives about of the total education spending, which amounts to about 42billion a year (Northrup, 2003). The country, therefore, does not operate a national education system with the exception of only the national military schools and the Native American schools. The federal government as mentioned does not also approve or administer curriculum. [...]
[...] The federal government on the other hand, through the department of education provides research and support to ensure that America receives a quality education. Education however, remains the key responsibility of the states and local governments. The US department of education for example, claims that 90% of the educational expenditure comes from the states, local and private sectors every year. In the 19th century, however most of public spending was directed towards education. The U.S. led the world in the provision of universal education. [...]
[...] change the magazine of higher learning. Klein, J. L., Rice, C., & Levy, J. (2012, March). US Education reform and national security. Task froce report. Krugman, P. (2009, October 8). The uneducated American. The Newyork Times. [...]
[...] It is evident therefore that the department of education through its programs and activities is largely involved in the US economy by not only providing the education needed to sustain it, but through other ways, such as the formation of policy and conducting of research necessary for the growth of the economy (Bureau of international information programs, 2012). Education in the United States is mainly the responsibility of states and localities. The local communities are responsible for establishing their own schools and colleges, developing their school curricula, determine the requirements for enrollment as well as graduation. Most of the money spent on education, therefore comes from the states and local communities. [...]
[...] In the recent years, however political sector has been of the view that most government spending is a waste of taxpayer money. This has led to a reduction of spending money allocated to education. Às a result America's economy is slowly showing the effects of educational neglect. The situation is increasingly deteriorating due to what those in Washington considering “fiscal responsibility”. An America which was famed for its dedication towards educating its young has now fallen behind on this role and is slowly being overtaken by other advanced countries. [...]
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