On the recordFebruary 8, 1994
Lost productivity: $225 billion a year. These are all from studies which have been done by experts to determine the cost of our educational system in its present state. One is probably the most interesting in the sense of defining what we have to do to correct our problems. The cost of on-the-job remedial training and education to our industry is $200 billion a year. In other words, our industries have to spend $200 billion a year to make up for the deficiencies in our school system training. Welfare costs: Health and Human Services, Housing and Urban Affairs, Department of Education, and the Department of Labor spent over $208 billion, while States spent another $82 billion on means tested entitlement programs collectively referred to as welfare. The programs consist of trying to make up for the deprivation of education to a large extent. Improved education there will save much of that money. For instance, in a book by David Kearns and Denis Doyle, 'Winning the Brain Race,' it was indicated that early intervention with the Head Start Program could have a major impact to improve the prospects of young children, and yet we only serve 30 percent of those who are eligible. The cost of drugs, another area which is greatly related to the educational system, $238 billion.
Said by
James M. Jeffords
Source
govinfo.gov