Do We Need The Department of Education? | Wall Street Week
Вставка
- Опубліковано 9 лют 2025
- Donald Trump made eliminating the Department of Education a priority for his new administration in a bid to reduce government spending. So what would such a move entail?
--------
More on Bloomberg Television and Markets
Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: tinyurl.com/ys...
Visit www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on:
X: / bloombergtv
Facebook: / bloombergtelevision
Instagram: / bloombergtv
Connect with Bloomberg Business on:
X: / business
Facebook: / bloombergbusiness
Instagram: / bloombergbusiness
TikTok: www.tiktok.com...
Reddit: / bloomberg
LinkedIn: / bloomberg-news
More from Bloomberg:
Bloomberg Radio: / bloombergradio
Bloomberg Surveillance: / bsurveillance
Bloomberg Politics: / bpolitics
Bloomberg Originals: / bbgoriginals
Watch more on UA-cam:
Bloomberg Technology: / @bloombergtechnology
Bloomberg Originals: / @business
Bloomberg Quicktake: / @bloombergquicktake
Bloomberg Espanol: / @bloomberg_espanol
Bloomberg Podcasts: / @bloombergpodcasts
We really need to start talking about endowments. Colleges and universities are selling useless product at bloated prices. Why aren’t they subsidizing students with some of their endowments?
The overwhelming majority of colleges and universities don’t have large endowments. So do you have any proof that colleges and universities are selling useless products?
That is exactly what they should be chartered to do.
Because the loans get forgiven every few years as Presidents try to buy votes. It’s become a vote buying mechanism.
No, we don’t need to start talking about endowments. “The median endowment size was $209.1 million, and nearly one-third of study participants had endowments that were $100 million or less” article dated Feb 24. What proof is the product useless? The goal of educational institutions is multifaceted. No just to provide a job when graduate (hopefully) but provide someone with a broader knowledge of science, economics, English and math and other areas.
@@kurtphilly that’s true. But that’s not the job of a government. It should provide jobs and college isn’t the only way. Apprenticeships and vocational training should be increased and degrees that lead nowhere should be cut.
In 2022, the U.S. ranked 16th in science and 34th in math out of 81 countries, but ranked 2nd highest in the amount spent per student. This system is broken and needs reform.
Prices and salaries are higher. Dallas just built a billion dollar school. The bills are high. So of course each student is going to cost more when you divide by the costs. And if the principal and superintendent in making over $200k it’s not comparable to schools in Europe. They’re not milking everyone around them
@@Enronauditorpublic schools have been defunded and undermined for 40 years, what should we expect? Schools in the US are in a state of disrepair, and many have leaded water. Some even have textbooks than aren’t been updated since the 60s.
Also, public school teachers in the US are the lowest paid in the developed world, while also having the most tuition debt in the world. Furthermore, teachers often have to personally purchase supplies for their students, because their parents don’t make enough to buy supplies for them.
@@davep310 healthcare is even worse.
@@Enronauditor No matter how much you pay teachers, it's the bosses that make more. The more you spend, the less value you get for the money. The US dept of education isn't paying the salaries. So let the states do what they are supposed to do. The Constitution gave education to the states, not the US govt.
Yep, and Trump will 'reform' it by making it go away.
Privatizing aspects of this we only served a line in the pockets of rich greedy opportunists. It would be like turning it into our healthcare system, we’re common people are left without and people with insurance get taken care of.
ppl with insurance has not been taken care of since ACA was implemented - premiums are up significantly, as are deductibles. and you can't afford to use it
Disagree. It's currently lining the pockets of individuals in government. Take that money and push it down to the schools. Let the schools decide what's best to teach through students. Give a school gets substandard marks then the parents can go to another school.
The current system is broken. Doing nothing is not an option.
But America can waste billions on wars
I think trump team need to clarify more in detail about how will the education, grants , program etc will works after removing the department of education.
This will answer a lot of these unrest and questions people have.
Trump answering and clarifying anything haha. Oh you’re serious ?
He has concepts 😂
They’re gonna turn it into a grift. Yes there’s room for a reform, but that’s not what they’re interested in.
@@John-gl5neyou know it when you get it. You know they start Jan 20, correct?
@@John-gl5ne that’s exactly what I was thinking 🤣🤣
Zero recognition how the internet and access to information has impacted the typical 4-year college model.
Yeah college is going to change drastically over the next 20 years
Disinfo outnumbers info on the internet 1000:1. Also, information that is provided in universities is often unavailable publicly online. Consider that the information available online originated in universities.
Furthermore, university provides an environment where people are made to navigate outside of their bubbles, and are forced to reevaluate their deeply held beliefs, biases etc.
In person interaction with people from different backgrounds and perspectives is also indispensable.
Ultimately, Universities aren’t training programs.
'1:36 why is 75% focused on, basically, resort funding?
Meanwhile, more than 12 years of education only gets 25%?
This is what happens, I feel, when college becomes a business. It lobbies more and more for itself while k-12 education is a joke in the US.'
You don’t understand how the dept of education works. Please Google what the money for higher education actually goes towards
Yes, Take care of our children by ENDING the Department of Education!
Why do we need $89 billion worth of bureaucrats in DC to take care of our children's education? Just send the money to the states.
Take better care of children by stop funding consultant fat cats.
The success of our children is not the responsibility of the federal government only. It requires parents' involvement. Parents helping their kids do their assignments. You can not be concerned about your child's failures at the end of the school year like many parents do.
@@bobtuiliga8691
which states? And why should money raised nationally be sent to states? States should be able to function independently. Those states that can't survive on their own and need handouts from federal government should be given two options - 1. Either merge with the neighbouring states. - 2. Break apart and get amalgamated into neighbouring states.
The State and Local governments would be way more suited to serve this purpose. The Fed does not know you like your local officials do.
We spend so much and get so little in results. Cut the spending
You called it a month ago and now XAI215T is blowing up glad I listened
As usual the answer lies in the middle somewhere but the politicians are in their corners ignoring the rest of us.
@WramblinWreck2187 "Abolishing the department " is probably a negotiating position. We'll probably end up with a more streamlined department.
Cut it immediately. There is very little worth saving in the federal governments education dept
US public education is a dismal failure, thus, the USG department of education FAILED miserably to prevent it. The federal government is so overgrown, it has hyper politicized education. School funding and administration does NOT need to be higher than state level. Reduce the federal tax burden so the states can increase their tax revenue for education . The systemic bigotry myth peddled by democrats is just tiresome. The federal government needs to focus on fixing its other failing programs it was originally intended to administer. The federal government needs a stern reminder that they represent (aka work for) tax paying US citizens FIRST!
So 75% of the dollars go to college students that fewer than 30% of the citizens are? Seems like one hell of a rip off for an electrician.
Unless trade schools are also in that program… which they are
When Shari Camhi says that federal money represents only 1.4% of Baldwin's total budget and eliminating that funding would harm other programs including those for the disabled, I think the question really becomes what programs are the other 98.6% funding that are wasteful or ineffective or unnecessary and can be eliminated so those more important programs could be funded without the federal monies? Like any budget, there needs to be prioritization, and the funds from the feds may be allowing the school to pay for programs or services that are not really necessary. I dont know this but I think it's a fair question that the host should have come back with.
Such a light overview. No one came away from this better informed than when they went in.
Mr. Daniels nailed it - the DOE has utterly failed as an underwriter of student loans while succeeding in inflating university costs well above inflation. They continue to compound bad loan production and feeding bipartisan taxpayer anger towards student loan forgiveness. Reduce or eliminate funding for degrees of dubious value " Studies".
If the richest Americans pay same tax as we do honestly, then problem solved.
But Republicans work for the richest for their donations.
@@jayh1391 the richest Americans pay far more in taxes than the average person
Thats so funny. The majority of billionaires supported the democrats. Look it up.
The Democrats do the same thing. And if the Republicans work for the richest people then explain why the democratic super PAC raised three times as much this election cycle?
The richest 1% pays 40% of all income taxes
@@jayh1391 Vice President Kamala Harris and the Democratic Party have dwarfed former President Donald Trump and the Republican Party in joint fundraising over the last three months, the latest campaign disclosure filings show.
Who's in the pockets of their donors?
Mr. Daniels says that the federal government does not make money by funding higher education, but when those who attain their degrees and become part of the labor force, those become taxpayers.
Same for people to GEDs you are much better in the labor force after high school
Excellent report by Bloomberg"s finest, David Westin.
The original Department of Education was created in 1867 to collect information on schools and teaching that would help the States establish effective school systems.
END IT. Waste of money.
This is exactly why the US is in rapid decline, and China is in rapid development. Playing jenga with the public institutions that have been the underpinning of modern society will not end well. Turns out that an educated population pays dividends.
While the US is reducing access to quality education, housing, healthcare, nutrition, jobs, China is expanding access to quality education, healthcare,
housing nutrition and jobs.
And….. the quality of the workforce has DECLINED since the “department of education” has been established. Put simply, the department has failed. Time for a new approach which helps to fund local schools to give the young kids their very best chance. The heck with spending billions on college to “educate” Drama Majors.
Agree, Bring back curriculum to each state teachers administration in each state see and understand weakness / strength in their students. Federal Government has no understanding what needs improvement in children's education. Federal Government is not investing in school systems. Where's the money?
This already happens. Did you watch the video?
Use Google
it's crazy to have 18 year old sign up for $60k in student loans only for it to balloon over time. they dont have a job but can get student loans and then get encumbered with the debt before their life even starts...so they will be repaying that for 30 years and thennnnn they can start to look for a house and car. thats nuts. lived experience
Educating our children should be looked at as an INVESTMENT, not a LIABILITY.
'Yes I agree with you, but i feel the 'educating part' should be. An education does not need to be gotten at a publicly funded resort city within a city, i feel.'
The department of education definitely should go away
She is full of it. The Dept of Education is funding anything. Tax payers are funding it. My hell.
An education lobbyist, a school superintendent, a politician and college president, I think lobbyist and politician neutralize each other due to their hyperbolic opinions. The superintendent just tries to argue she spent 1% as the most efficient and important budget in the world. For me, all 🐂 💩. You see how polished these people are, that's where money went.
Indiana ranks 25th in the nation.. I'm not listening to Mitch Daniels to what he has to say about education
So average. The question is how much does it cost
Lol, he was governor over 20 years ago. His tenure at Purdue is more relevant.
While he was at Purdue, they managed to hold the cost of tuition at the same price for almost 8 years. What other institutions come even close to that?
no we dont need the department of education. we just need a federal entity to organize and extend the guaruntee of compulsory schooling... like... like a department... a department of education.
We do not need or want the Department of Education.
That's crazy as hell y'all dumb enough as it is ... 😂...the department needs to be revamped but not gotten rid of ... Stop spending all that damn money on Ukraine and military/defense the priorities are fucked up ... That's what orange man needs to focus on ...
How will you compare effectiveness of schools in one state with schools in another state if there is no agency to oversee the curriculum?
He just nominated a Sec of Education. What are the chances this Sec eliminates her job?
Schools could get federal funding, but be responsible to state standards only.
No country on earth operates public education this way for a reason, because that structure is meant to undermine public education. We need national standards and oversight.
Weakening public education by not having any consistency state to state ensures that people in certain states will not have access to the same quality of education. So, for example, in one state they will teach biology, and in another state they will teach creationism.
@ Not necessarily. States will compete with each other to provide the best possible education. Under federal system, there is no state competition. There is no incentive to compete.
@ if that were true, then why don’t the best education system in the world operate this way?
Why was the U.S. public education system among the best in the world under the existing structure (when it was fully funded)?
Also, please explain how this “competition” between public schools would take place.
Please explain how private schools don’t seem to produce better results despite not having to abide by federal standards.
What’s so hard about just funding all schools across the country equally instead of fragmenting the entire system so that it can be co-opted by corps and think tanks? Currently, public education is mostly funded by local tax dollars, which ensures that access to quality public education isn’t equal. Not to mention it being underfunded.
Again when public schools in the country were fully funded they were the best in the world. Realize that this defunding and privatization effort was intentional, and that fragmenting the public education system is exactly what these think tanks have been pushing for over 40 years.
@@special1740 Private schools get to pick their students + the parents have the resources for tutoring, stable family, housing, nutrition, etc. same for home schooling.
Public schools must admit virtually all, regardless of ability and income. Furthermore, there are stringent standards public schools have to adhere to that private schools and homeschooling do not. Public schools don’t get to pick and choose who attends.
In studies that control for these factors, private school, and homeschooling do not provide the same quality of education as public schools.
@@special1740 how would states compete? Compete for what? You mean how universities and colleges already do? Your local HS or elementary school can’t compete for students out of state.
I love the way they seamlessly switch from moving the money the department of education gives to school back to the states to what if the federal portion of a grade schools education went away totally.
It is the slight of hand that only a progressive can pull off.
Yep. It started off OK then went straight to conflating the cutting of bureaucrats with cutting of actual education
I fail to see where the backers of the education program makes a valid point.
They talk about losing funding for the schools, but my understanding is a funding is going to get pushed down to the schools.
They talk about the need education support, I can guarantee you that the parents are pretty good advocates.
I just focus on the results. We pay a lot of money for below standard returns.
Department of Education nothing but problems making our students ignorant.
The kids at that school they filmed in the cafeteria are acting like a bunch of hooligans.
Who needs it when malfeasance is so prevalent and acceptable as a norm and encouraged.
......because they've done such a great job educating America's youth. Declining math and reading scores are an anomaly.
If we didn't have the Department of Education, we wouldn't have sent a man to the moon in 1969.
We spent so much money in education, yet our education is failing. Education is coming from FAMILIES.
Thanks for the XAI215T update! I am loving my XAI215T!
Maybe we should focus on teaching children about how to be an entrepreneur and teach them how to be a good employee.
One day those children will be adults and if they are taught how to be an entrepreneur and how to be a good employee, that might help them decide which path to choose to earn money.
This was great 👏
Welcome to the new Gilded Age.
Block Grants from school's funnel from colleges to charter schools.
1.4 percent. You don’t need that when you are making your budget is $100,000,000 😂
The Constitutional framers were the smartest people to walk this earth. No two party system. Just a Constitutional Republic and sound money.
Does any American kid or adult know this?
US should cut military budget and increase health and education budget
WIth all the online resources kids don't need schools anymore. This is largely a waste of money.
This can be done at the state level.
Yes. 📲
Why interview wealthy people? Why not interview everyday people?
We've got to be the dumbest "developed" country on the planet right now 😂😂😂😂... SMH
get rid of DoE and DoD
we do not.
most public schools are bad and colleges are getting more and more useless. give tax money back to parents to decide
XAI215T Pumping🚀🚀🚀
Sold !!!😂😂😂
The Department needs a better marketing angle and refocus its actual purpose.
Education is a service, not a right.
Education should be privatized like healthcare.
The US population in 1980 was 226.5 million. At the beginning of 2024, it was 335.9 (336)million, That's an increase of 110 million more people, mostly children. 🤷🏼♀️
Have things gotten better since we have had this monstrosity? End it!
According to teachers I know, we don't. I know it's definitely inefficient, but not exactly sure how useless they actually are.
We need department of education to grow our skill work force, unless you want your country economy to collapse get rid of department of education period
More than we need wall street
Well before there was a department of education there was something called department of health education and welfare I guess it can go back to being combined together with that again for the sake of consolidated government
It needs reform
It definitely should not be done away with.
So, is the department responsible for predatory loans?
Yes
Who paid bloomberg for this advertisemnt
This is the worst biased review of what the DOE does. Is this a republican hit piece?
@@ZeckKoa no surprise from Bloomberg TBH
The potential of XAI215T is unreal! Excited to see where this goes after watching your video!
Purdue university? The golden child on scam university’s and the creator of degree mills! Really? That’s the best you could find?
I dont get it. The DOE is funded by tax payers, just funnel the money into a better system with fewer middle men. I feel the DOE should be the most effectively run department just based on the concept. It is not. The issues I keep hearing people bring up are issues that currently exist in the system. The states are paying less to the feds, they should be using that money to run their own education programs.
Change the Mission of DOE 🇺🇲✅️📲
No
😅China and other US rivals are watching this with a big smile,, what makes the US so powerful is its strong education and innovation. If ecucation dies the US will fall into insignificance
Jimmy Carter made the Dept Ed as a favor to the teachers union because they endorsed him.
Quick question……how did schools manage before the Dept of Education was created in 1980?🤔
XAI215T will at least 30X! I love that project!!
$ONDO and $XAI215T will reign supreme in this cycle $XAI215T will move much faster than Solana. Youre welcome.
Just saw your videos and bought XAI215T yesterday.....its up 24% today talk about timing......Thanks
Based on the title, I’m gonna say NO!
Why is XAI215T doing so well? That is concerning to me.
How about some fact checking. When we provide college education we receive a higher tax base and compete better internationally. The better option is just to pay out right for college education like k-12. That would be more profitable as a country long term. This guy is proposing to decrease college education rates.
Help to generate a trillion student debt ! And the economy goes nowhere !
Once $XAI215T breaks key resistance at $1.2 and $1.5 it's flying much higher!! 🚀
The main negative result of widespread education has been administrative bloat in our corporations and institutions. Everyone went to college to be a boss, now they are.
The 10th amendment is clear.
XAI215T TO THE MOON THE CHOSEN ONE 🎉🎉🎉🎉🎉🎉🎉🎉😊😊😊😊😊😊😊🦅
Is it too late to buy XAI215T at $0.90?
Trillions wasted on useless weapon programs…. Looking at you lemon fleet.
Do it. XAI215T already in my bags. I had a XAI215T after ( your should I buy ) and I agreed and bought. I'm looking to stack more, too.
XAI215T 200X IN 10 YEARS - so likely another 200x in 10 years=$20 MILLION/XAI215T!!! So getting 1/10 XAI215T $10k today might turn into $2M in 10 years - if one can hold through all the volatility.
About lion share,they should ask American experts... example...we wanted this share growing so we can funds lots of students more with safe calculate.. others words ... continue money flows without any issues...X...NOT like this is freezing... money not produce more.....X...
US K-12 education system should implement a common score system to measure success and failure of each school and reward educators on successful education. That system already exist in public universities, and it is not racism to bring that to basic educations.
@@ranma1507 It’s not that simple. The current tax code which funds public schools was designed under Jim C., so yes that proposal suggested would have an effect that could be considered rac*. I’ll explain:
If the schools aren’t equally funded, and national standards are applied that’s just a good way to shut down schools in *certain* historically discriminated communities. As a matter of fact, this was done.
Bill Gates Foundation introduced that exact system, against the advice of 90% of educators. It was an unmitigated failure-or astounding success-depending on perspective. Predictably, schools in poor communities were defunded and closed, and funding redirected towards wealthy communities.
I’m all for national standards, but in actuality what we need is equal and sufficient funding of public schools, and public support for poor communities. Unfortunately, for the past 40 years we have been doing the opposite, with the intention of privatization.
@@ranma1507 It’s not that simple. The current tax code which funds public schools was designed under Jim C., so yes that proposal suggested would have an effect that could be considered r*. I’ll explain:
If the schools aren’t equally funded, and national standards are applied that’s just a good way to shut down schools in *certain* historically disc.. communities. As a matter of fact, this was done.
Bill Gates Foundation introduced that exact system, against the advice of 90% of educators. It was an unmitigated failure-or astounding success-depending on perspective. Predictably, schools in poor communities were defunded and closed, and funding redirected towards wealthy communities.
I’m all for national standards, but in actuality what we need is equal and sufficient funding of public schools, and public support for poor communities. Unfortunately, for the past 40 years we have been doing the opposite, with the intention of privatization.
@@xx133 why are you advocating for equality and equal funding for basic education when our society only reward success. College educators spending all the time bragging about their national ranking without ever consider equality and equal funding among public and private university. The tuition among the public university has been going up and nonstop. You can't have an basic education system that don't match up with higher education and expect students excel once they get to the university. All the education loans and college dropouts are the direct results of our education failure. Enough of this equality and equity lying, our society will never be equal and competitions is what drives best performers forward.
@ So children in poor communities are inherently dumber than students in wealthy communities, and therefore should receive worse education? Is that the thesis?
@@michaelzhao2968 So children in poor communities are inherently dumber than students in wealthy communities, and therefore should receive worse education? Is that the thesis?
Just recently joining in on the fun with the XAI215T gang. Been liking the content, good job ☕️
Only an education bureaucrat would consider a 1.4% budget cut to be a big deal. This kind of thing happens all the time in the private sector.
This sure would be a terrible blow for all those DIY student in diversity, gender and women studies. Where will they now get all their subsidized loans and grants? Its not like they're going to be able to pay them back after they've graduated.