Where has all the money gone?

The Hechinger Report and the Education Writers Association have teamed up with Michele McNeil, Education Week's federal policy editor, to produce a comprehensive report on the impact of the gargantuan education stimulus program from two years ago ? the largest one-time investment ever ? and found: ?not so much. ?

Reporters from 36 news outlets in 27 states spent nearly three months examining the impact thus far of this historic influx of cash. Interviewing scores of students, teachers, researchers and education officials at all levels of government, participating reporters set out to determine how the nation's schools are actually spending the money and whether the changes it sparks are likely to last. They found that the stimulus package's long-term impact on public education is far from certain. Indeed, many of the resulting policy changes are already endangered by political squabbles and the massive budget shortfalls still facing recession-battered state and local governments.

Though there are a few bright spots in the report, the overall message is that our public school systems, burdened by bureaucracy, mandates, strings, labor contracts, and indecision, have a?tough time making financial decisions that improve student achievement. It's not exactly pouring good money after bad, but it's clear that most educators haven't read Stretching The School Dollar. ?And now that the money is gone ? see what's happening in Texas ? only the smart ones will survive.? Happy Birthday, Charles Darwin.

?--Peter Meyer, Bernard Lee Schwartz Policy Fellow

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