Education

Morning Must Reads: You Get What You Pay For: Human and Physical Capital

In the State of the Union address last week, President Obama called for more investment in programs that link training in higher education to employers. This morning the Harrisburg Patriot-News has an excellent article detailing one such program here in Central Pennsylvania.

Third and State This Week: State of the Union, Loopholes and Price of Service Cuts

This week, we blogged about the President's State of the Union address, new legislation to address corporate tax loopholes and a new series examining the price of cuts to state services in Pennsylvania.

IN CASE YOU MISSED IT

  • On the State of the Union, Mark Price offered a preview before the President's speech and a recap of his favorite parts the next day.
  • On state budget and tax policy, Chris Lilienthal wrote that legislation proposed by Representatives Dave Reed and Eugene DePasquale would take a first step towards closing corporate tax loopholes in Pennsylvania, but more needed to be done. Chris also highlighted the first and second installments of a new series from the Pennsylvania Budget and Policy Center featuring stories of Pennsylvanians impacted by five years of state service cuts.
  • And in other Morning Must Reads this week, Mark Price compared and contrasted executives and teachers, and highlighted a proposal to strengthen both the minimum wage and the earned income tax credit.

More blog posts next week. Keep us bookmarked and join the conversation!

Morning Must Reads: Compare and Contrast: Executives and Teachers

The New York Times this morning has yet another story that is sure to dominate public conversation over the next week or so. Read it or else!

Morning Must Reads: SOTU 2012: Community Colleges, Workforce Development, Taxes & Infrastructure

The Pittsburgh Post-Gazette has a pretty good summary of the State of the Union.

Here is the full text of the President's speech, and Wonkblog has a version of the speech with only what they define as specific policy proposals.

What follows are our favorites from the speech.

Morning Must Reads: Job Growth in 2011 and More Layoffs, Higher Property Taxes in 2012

On Thursday, the Pennsylvania Department of Labor and Industry released data on employment and unemployment in December. Compared to the summer months, the top line numbers were good, with unemployment falling three-tenths of one percent to 7.6% (U.S. rate is 8.5%).

Nonfarm jobs were up 6,500, which is a pretty good number (we need to average 8,000 new jobs a month to get back to full employment in three years). Service-sector job growth in December was atrocious; the sector added just 300 jobs. Most of the month’s job growth was in durable goods, with manufacturing adding 2,600 jobs, construction adding 3,000 and mining adding another 600.

Those 3,000 construction jobs don't represent a sudden resurgence of the construction industry. As most of you are happily aware, December was quite warm; this meant construction activity in the month was above historical averages which shows up as job growth in the final numbers. The actual trend in construction employment is at best no or very slow growth.

The bottom line is that in the last 12 months, Pennsylvania added 59,200 jobs. That's fewer jobs than were added from December 2009 to December 2010 (63,900). The primary reason Pennsylvania added fewer jobs in 2011 than it did in 2010 is the loss of 19,800 jobs in the public sector.

Bank Swap Deals Cost Philadelphia City, School District

Large financial institutions, including many that received financial bailouts in the wake of the financial crisis, are making hundreds of millions of dollars off interest rate swaps negotiated with the City and School District of Philadelphia.

That's the key finding in a new report the Pennsylvania Budget and Policy Center out today. We found that swap deals negotiated with banks such as Wells Fargo, Morgan Stanley and Goldman Sachs have cost the city and school district $331 million in net interest payments and cancellation fees. If interest rates continue to remain low, still-active swaps could cost the city another $240 million in future net interest payments.

Morning Must Reads: Shameful: PA Has Denied 88,000 Kids Health Care Since August

Key elements of the Corbett administration's strategy are to cut business taxes while reducing spending on public health and education. This morning we learn this strategy has resulted in the loss of health care for 88,000 Pennsylvania children.

Third and State This Week: Food Stamps Assets Test, Lagging Job Growth and State Cuts

This week, Mark Price dominated the blog, writing about income inequality, challenges facing school districts and a new policy intended to limit access to food stamps for low-income families with modest savings.

IN CASE YOU MISSED IT

  • On poverty and public welfare, Mark Price blogged about a Philadelphia Inquirer editorial questioning the wisdom of the state's reinstatement of an "assets test" for Pennsylvanians receiving food stamps, As the editorial states: "Instead of encouraging the working poor to save, Pennsylvania welfare officials want to punish families for having a few dollars in a bank account."
  • On jobs and the economy, Mark wrote that Pennsylvania is headed in the wrong direction, with November 2010-November 2011 job growth less than November 2009-November 2010.
  • On the state budget, Mark highlighted news reports on the local impacts of state cuts, and he passed on news reports on income inequality and challenges facing schools and higher education.

More blog posts next week. Keep us bookmarked and join the conversation!

Morning Must Reads: While Governor and Legislature Dally, School Buildings Crumble and Tuition Rises

The Reading School District has a backlog of building repairs approaching $750 million. Is anyone in the Governor’s office or perhaps the Legislature paying attention? To see firsthand, they don't even have to go to Reading; they can just turn on CNN this weekend!

Morning Must Reads: Wasteful Asset Tests, Unsafe Schools and an Entire School District Headed for a Shutdown

The Philadelphia Inquirer has an editorial this morning questioning the wisdom of the Corbett administration's move to limit access to food stamps for poor families.

The Inquirer reported earlier this week that the state would reinstate an "assets test" for Pennsylvanians receiving food stamps beginning in May.

This means that anyone under age 60 with more than $2,000 in the bank ($3,250 for those over 60) will no longer be eligible for food stamps. Houses, retirement benefits and a single vehicle are not counted. The $2,000 threshold, a minimum set by the USDA, hasn't changed since 1980.

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