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Bill Gates - Government Spending

In: Business and Management

Submitted By hsafavi
Words 348
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Watch this Ted Talk. Do you agree or disagree? Support your opinion with our learning to date.

After watching the video, I agree with Bill Gates’ that the United States needs to make a commitment to increase educational spending for younger generations. In recent years, state governments have been making significant cuts to state education in an effort to work to reduce the United States’ 10% deficit per year. Bill Gates argues that the long term equity from spending on education and healthcare far outweighs the equity from spending in other governmental areas.

Gates’ solution to the problem is simple. His first proposal revolves around the idea of upgrading our tools and technology. In a country that spends more on education than most other countries, his ideas here are well deserved. Next, Gates believes that accounting for schools should be closer to Generally Accepted Accounting Principles and should be clear and honest. Gates argues that the current accounting method for schools follows a “buy now, pay later,” mentality. And, finally, Gates preaches that Politicians should be rewarded for their efforts to reduce the deficit.

States have used many different methods to hide their ‘budget balancing’ accounting practices. Moreover, in future years, educational spending is projected to go up, perpetuating the already monumental educational budget deficit. This ongoing ‘debt clock’ should raise red flags to State Legislators to this systemic problem. Unfortunately, the only way to accommodate future generations and safeguard them from inheriting a massive educational debt, is to cut education spending in half, which, given our current position, cannot be our solution.

So is there a way to reduce our educational spending, increase our educational revenue, standardize our educational accounting practices, and focus more on the educational equity our younger generations have to offer? Ramping up state educational spending in an effort to redesign a smarter and fairer way to fund our future generations seems to be a valid solution. I think Bill Gates would agree.

Conclusion: “We need to care about state budgets because they are critical for our kids and our future.” – Bill Gates.

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