The impact of the current economy on educational funding Research Paper

The impact of the current economy on educational funding - Research Paper Example , if such problems are not addressed as soon as possible, the labor force of the country would be affected as well, which simply contributes towards poor economic growth for the country once more (Hanushek & Kimko, 2000). According to Murnane et al. (2000), what is also disturbing is that there is a trend of poor performance levels churned out by students who are African-American or of Latino descent- both of whom make up a relatively large portion of the population in the United States. Smollin (2010) reveals that across the United States, several school districts are already preparing themselves for the drastic budget cuts implemented by the government. Recent periods have shown that the budget cuts have increased drastically, mimicking the case 50 years ago. The recession has indeed had direct effects on the local property taxes, as well as the levels of state funds. This has lead several school districts to resort to desperate means to save money. Examples include reducing programs that are garnered towards enriching the students’ extracurricular affairs as well as any other programs that cultivate their skills and knowledge outside the realm of the academy. Other measures include reducing class hours and also reducing the academic year. There are also some schools that have decided to close down. For several faculty members, eliminating certain school programs and even closing down schools have proved to be a difficult decision, but the most difficult de cision being brought about by insufficient funding would be the option of schools to lay off teachers. In an article released by the New York Times, Lewin & Dillon (2010) have written that school districts that resort to such a measure are those that have no choice. Most schools receive their source of income via local property taxes and the money from the state, both of which have been severely affected by the global recession. In California alone, school districts have actually issued pink slips to at