News & Information

Starving Education to Feed Retirement

Top of Mind with Julie Rose
  • Nov 9, 2017
  • 16:02

Guest: Richard Vague, Managing Partner, Gabriel Investments, Author, “The Next Economic Disaster”  When you’re cutting up a pie, and you’ve got more people to serve than you expected, one solution is to make each piece a little smaller, right? But what if you already promised someone a certain-sized slice and if you try to trim it a bit you’re gonna have a ruckus at the table? Well, then you’ll probably have to make the rest of the slices even smaller.  This is the situation state and local governments across the country find themselves in. They’ve guaranteed to fund pensions for government employees and Medicaid, and as those costs grow, who gets a smaller piece of the pie? Mostly education and infrastructure. That shows in America’s deteriorating roads and bridges and the poor international ranking of our school system.