Word: washington
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Then came the Panic of '08. Investors saw Treasuries as a safe haven and poured money into them, driving down interest rates. Officials in Washington spared no expense in battling the crisis. The result is a deficit of unprecedented size but with no perceptible pressure from financial markets to reduce it. No pressure so far, at least. The federal debt, at $7.6 trillion, is now above 50% of GDP and rising. The government faces commitments to Social Security and Medicare that dwarf that figure. Republican congressional leaders have decided they care about deficits again - and seem to be making headway...
...some weekends, when the rest of Washington is on the back nine or a racquetball court, Arne Duncan (whose first name is pronounced Are-knee) can be found playing in three-on-three street-ball tournaments across the nation. On a muggy, overcast Saturday in late July, while 50 Cent's "I Get Money" blares from a set of speakers, the former head of the Chicago Public Schools pounds the blacktop, alternating between playing intensely and walking off to take calls on his BlackBerry. Almost none of the other ballers know who the white dude with the salt-and-pepper...
...provision that has provoked the greatest outcry is a requirement that states drop any legal barriers to linking student test results and teacher performance. After years of dancing around the issue, Washington wants to know which teachers produce the best and worst students and is finally backing up that desire with real money...
Duncan's approach has also scrambled the once predictable politics of educational reform. Republicans typically favor reform. But Duncan's top-down approach, with Washington telling states how to behave, makes some conservatives nervous. "When you're talking about that much money and you're using the language that the Secretary is using, then you get states already starting to change some of their laws before any money has actually been given out," says Representative John Kline, the new ranking Republican member of the House Education Committee. "I'm not completely comfortable with that...
...other educational goals that many experts now regard it as a failure. NCLB has become, in Duncan's estimation, such a "toxic" brand that his Education Department recently tore down the faux red schoolhouse emblazoned with the law's name that sat outside its main entrance in downtown Washington. Duncan will be instrumental in rewriting NCLB, starting with the name. "We'll probably get a really smart 10-year-old to figure this one out for us," he says. "It's got to be something more aspirational, more inspirational, more about the direction we need...