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Now were going to talk about education, which is at least more commonly thought of as investment in Human Capital and shouldnt be as controversial and something well hear a lot about politically in coming months and years. We welcome sarah turner who has written paper which is posted on our website, university of virginia. Thank you very much. Sarah . Okay, let me get started. As everyone is coming in to sit down. First, we need to thank david and louise and kerry who just together a Wonderful Program and theyve been good at nudging various people to do what they should on time. So i want to just start out with general comment and turn to specifics. First off, education is an excellent investment. Both for individuals and for society. I think we can i want to make this case in terms of an efficiency argument. Okay. Failure to close the gaps which are really big and growing in Educational Attainment is likely to both hinder Economic Growth and increase the burden on taxpayers over the longterm. And i think there are just two big takeaways from this. First, Money Matters enormously in education. That a necessary, not sufficient condition. Then secondly funding needs to be matched to a commitment to accountability and in the education space innovation. And the federal government has a big role here. Okay. That said, the title of this event includes i believe from bridges to education. And its worth noting why education is different and arguably a good bit more complicated than the challenge of bridging a bridge. Economics of building a bridge is tough enough in terms of the allocative problem in terms of who pays it, how do we do it at the lowest cost. But there are blueprint. There is an Engineering Solution to building a bridge or building an airport. It is worth the sec distinction. Education is more difficult in that were still trying to uncover the underlying technological process that is what we should do with different populations of students. Were learning a lot, but these are really hard problems and its again, its worth making that distinction. Another sort of opening point is just about every big volume on education starts with a narrative about falling behind. It is true that the u. S. Lags other countries in terms of test score growth and changes in college completion, but its also worth putting a more optimistic note on the table. Weve seen some growth in test scores in the early grades. Theyve been stagnant in the middle grades. Weve seen some reductions in High School Dropout rates. In the most recent decade weve seen increases in college inrollment and Completion Rates. Those gains are not spread evenly across the population and we should be concerned about the degree of inequality. We know more about what works and actually what doesnt than we did two decades ago. Im sorry russ is not here. Some of this owes a big debt to the Education Sciences in 2002. Weve made progress and theres more to do. Two messages. We want to use evidence to shape policy and we need to innovate in this space. What are investments and priorities for federal education policy. I decided to make that a little bit narrower. There are two book ends here that are important. Prek, talk to dianne. I think sometimes the forgotten piece of graduate education and funding the sciences, but we have to set some boundaries here. Im going to set even a better boundary here, im going to do something that economists are pretty good at. We are going to exercise some division of labor here. Im going to concentrate on the post secondary margin which is my advantage and hes going to concentrate on k12. That said we have a lot to discuss and i think within k12 you can think of about three buckets. School accountability, School Choice mechanisms and teacher preparation. Were going to hit on those, i think, in the course of the next 40 minutes. Im going to talk in terms of the post secondary sphere, Student Financial aid and excellently choice and the supply side of Higher Education. I want to take a quick moment about the federal role in education policy here. It deserves some comment. We spend about 1. 2 trillion on education each year. The federal role is about a quarter of that. In that quarter thats about 100 million are equally divided between elementary secondary and k12 and then theres another 100 million or so thats off budget in terms of student loans. So you might ask what are the big missions of the federal government in the education sphere . Im going to hit three here. The first is addressing credit constraints. Those are one of those market failures that economists love to teach about in introductory classes and they really matter in education. Theres a reason to think that individuals cannot finance worthwhile endeavors in education. Second is what im going to call a limited but certainly not zero role of the federal government in regulation or auditing the use of its funds, preventing the worst outcomes. Third, and this is where i think hopefully well have more discussion is that the federal government really has an advantage in funding research, innovation and development. These are innovations that when we discover something that works in one area, we can spread them around to other communities. Many of these things need to be done at scale and it is only and the federal government is actually well positioned not necessarily to execute these experiments, but to at least seed them. The next preliminary i want to put on the table is just a reminder here of really the degree of inequality, the challenge that were facing in Educational Attainment. Its kristen noted those things start early. The gaps start actually very early before kids enroll in school, but they continue on so here are what im going to call the entrenched elementary secondary achievement gaps. The blue bars are comparisons by education and the red bars reflect the black white difference. Ill skip the precise characterization. You should think about these in terms of grade level of achievement. They are very meaningful in terms of grade levels of achievement and what is striking here is how large the economic gap is relative to the race gap. If you look back 50 years ago the race gap would have been larger than the economic gap, but things get worse as we go on to college enrollment. The Left Hand Panel is enrollment by Family Income on the bottom and the highest to the right, the right hand panels enrollment, the Left Hand Panel is completion. The dark dashed line is essentially the behavior of those students who are making College Going choices in the 80s. The lighter blue line is the students making College Choices at the beginning of the 21st century. The takeaways from these, if youre in the back, first off theres a positive gradient and second the gaps have widened and they have widened quite markedly over time. We have about a 30 percentage point difference in enrollment rates. Theres not much youre going to push up that enrollment rate. A 10 increase at the bottom which is the increase at the top of this distribution between the top and the bottom. One might rightly note these are not adjusted for differences in achievement on entry. Again, if you do this additional calculation, youd still see very large gaps and theyve increased over time. On the order of about 16 Percentage Points in college completion. Thats the preliminary. Thats the problem we need to address. As i say, im ceding some territory that well come back on k12. I want to talk about Higher Education given that the elementary act was just reauthorized. Whats on the table is reauthorization of the Higher Education act which somehow or another congress hasnt gotten to yet. Within this rubric are the title four programs. The other sort of key topics that i want to touch on are the College Choice problem and essentially the supply side problem. Okay. Federal aid. Grant aid. Weve got two slides on student is aid here. Again, i think we have really compelling evidence at this juncture from work that ive done on the gi bill, the transparent grant aid can have a very positive effect on collegiate attainment. We have grant aid on the table right now or effectively grant aid in the form of the pell grant, which we spend about 30. 6 billion a year on and the tuition tax credits which amount to another 18. 2 billion. If you look back at 2010 those not numbers totalled about 60 billion. The bad news is that even though these programs have two features that one might really like in a student aid program, that is theyre portable so in effect theyre like vouchers. Secondly theyre means tested. The problem is theyre not very transparent. And because theyre not very transparent, particularly the tuition tax credits, theyre not having necessarily the impact that we would like to see on student enrollment and more importantly helping students to finance really worthwhile collegiate investments. I think ill draw your attention to two issues here. First the tuition tax credits. Separate from the problem of really a total lack of salience. They dont matter to you your parents dont get paid for another 18 months. At that point you may have lost interest or its not going to effect your decision and indeed that comes through very clearly in the research literature. Many students dont even know about them. The pell grant is actually a bit of a challenge here because it services such a broad umbrella of students that its not very well targeted. The pell grant generosity has actually increased a bit in the last decade. I want you to draw your attention to the column on the right here, which is the proportion of students who are independent. That is likely over the age of 24. They have Young Children of their own. Now, one of the challenges is designing an aid system that meets the needs of this population, who are likely responding to near Term Economic shocks, as well as the needs of students who are recent high school graduates. And the system of Needs Analysis that we have doesnt accomplish either objective very well. And so given that im running out on time, well come back to this, but there are excellent recommendations by a supported panel called rethinking pell grants that would serve to divide the resources between pell grant Adult Program and a pell grant young program. Loans, everybodys favorite question here. Im going to just simply note that theres nobody anyone who has read a newspaper in the last ten years knows that there has been much attention with headlines like a generation hobbled by the soaring cost of college. Contrary to what some newspapers would have you believe, the number of undergraduate students drowning in six figures of debt is more like one in 30 rather than the median or the mode. Theres a point of getting the numbers right that are important and also theres a really important study that i believe was presented last year by adam loony that looks at what is a real increase in default rates, which has occurred over about the last eight years to increasing to about 10. 1 to about 5 and they ask why. There are two big factors that are at play here. The first has to do with the changing student population, that is a shift with the students most likely to struggle, are these older nontraditional, if you will, borrowers and second a shift in the institutions those students are attending. The loan issue is different than it has been often characterized. This brings you to the question, the real questions as to whether some of the students struggling are really being buried because they may be enrolled in a college that had weak returns in expectation, at the worst example of this would be the institutions that have turned out to be downright fraudulent and theres a question of can we help those students avoid those choices and then the question of what do we do with students struggling at repayment. Given that i am at negative time here, i am going to hit at one point on my list, which is one of the most popular policies from both sides of this aisle has been discussion of economybased repayment and there has unfortunately been little attention to how this Program Actually effects the liabilities of the federal government. A recent report notes the liability has increased to about 74 billion, which is about triple what it was estimated to be. Essentially what youre doing is youre trading an insurance mechanism for more moral hazard and adverse selection. The primary beneficiaries are going to not be those who have borrowed a little bit and really are struggling with small amounts of debt, but turn out to be those who are getting forgiveness for graduate borrowing. I think ill come back to this. Can i have two minutes . Two. Okay. Well come back to this. College choice. Theres much to do here, but this is a case where we need rnd sponsored by the federal government. Again, there are two groups of students who not very well guided at this point, particularly the older nontraditional students who dont have access to either peers who are going to college or traditional guidance mechanisms. There are very interesting experiments we can do there. Supply side. Again, resources matter enormously. If you see whats going on at public institution, resources per student have declined markedly. These are constant dollar. The issue here is how can we how can we encourage greater state funding . We see increased stratification, this is an issue to address. But really the challenge resources are what they are, but are there ways for the federal government to support productivity and enhancing innovations. Are there consolidations that can be supported and literally the billion dollar question is can Technology Change education productivity in the higher ed space . Okay. Main takeaway, weve got a role for accountability, addressing market failures. I want to end on this final note, which is were doing better. Were learning a lot about how markets work in education, but theres room for more investment here. Just as a relative point, this spending on research on education is about 279 million a year, which is about 102 times the spending on nih is about 102 times greater than spending on nasa. Theres room for more investment here and there are many highreturn projects to think about. Let me turn over this to the professor who is going to take over the k12 side, i believe. Sara has written a thoughtful, valuable paper. I agree with the roles for federal education policy. We agreed i would focus on recent research, how recent research informs the design of federal activities in three areas, accountability, teacher policy and School Choice. Just a few words on context. Inequality in educational outcomes among the 50 states, each of which has its own educational system is very high. This is evident in the results of the National Assessment education progress. Lowquality schools are associated with low rates of intergenerational mobility. This is worrisome because the promise of upward mobility provides a lot of the glue that has held democracy together. So improving education, especially in states with low quality state systems, and especially if children from low income families should be a goal of federal education policies. What are the policy tools . As sara writes in her paper, funding and regulation are the primary sets of tools. The federal government has attached strings to aid and this has effected the actions of states and School Districts. Theres Good Research on that, but as reaction in some states to the post great recession, Education Funding to adoption of the common core has shown regulations are not very popular. For instance such incentives to alter behavior. Every Student Success act that moves the design of accountability systems firmly to the states are still a regulatory role and are still up for grabs, what the details will look like ill come back to that. Turning to the first, buckets, accountability. Very important. Its also very difficult to get accountability right. A litmus test of that that would be whether an accountability system encourages skills for teachers to work in highpoverty skills. Thats the test that most accountability systems will fail. What are federal roles in that regard . I see four. One is the auditing function. Strong support for National Assessment of educational progress is absolutely critical. Also an opportunity would be cost sharing for states to participate in international assessing programs. Such as pisa and tims. Three american states that participated in the 2012 pisa assessment system for 15year olds, all these states by reports percent proficiency says theyre doing the same, but in fact one of those states had average scores way above the average. One had scores way below the average. Thats the importance of this auditing function and helping states to bench mark how theyre actually doing. So thats the second. Second, signal openness to innovation and accountability systems so its a Spark Innovation in school design. Currently all state accountability systems are based primarily on student math and reading scores. The skills that are measured are important and they matter, but there are at least four welldone Research Studies showing longterm effects of intervention design to improve the lives of lowincome children that did not effect test scores. One of these is moving to opportunity. As we heard earlier, very positive effects if the movement took place before the age of 13, no effect on test scores. That suggests the importance of thinking about accountability in a broader sense. The greater availability of data on college, on crime, on labor Market Participation wages suggests the possibility of designing much more creative accountability systems and i think encouragement of that would be valuable. Particularly encouragement of innovation and design of caring for teenagers. If you look at scores you see improvement in scores of 9yearolds and no improvement of scores in 13 to 17yearolds and very large gaps by ethnicity and income. So we need to find new ways of designing education for teenagers to try to include more connections to the world at work. I think the feds can signal an openness to accountability systems that would support innovations in these areas. Examples of these that have been tried with some success, some high schools in new york city, Early College high schools, some urban Charter Schools. Third would be to support collaborations of states to work on the design of new Educational Options for teenagers. It would be great particularly if states with weak systems collaborate with states with stronger systems and Fund Research on the consequences of innovative accountability systems. We would hope to see variations among the states. On teacher policy, we have the research that shows what every parent knows. Teachers matter and theres a big variation in teacher quality. What has much less attention, however, is very Good Research from ecu showing that the performances of novice teachers and the rate with the which they improve their performance depends on the skills of the grade level colleagues and on the and the quality of environment allowing them as adults to learn. So thats critically important. You think about accountability systems. Where a teacher is placed will have an impact on how well she fares. We dont know very much about how to Design Systems that provide the accountability and support. Thats an area where we really need to do more research. This is what School District Central Offices are supposed to do, provide this combination. Very few know how to do that. I think theres a need for research in that area. Another area related to that and which i think research could be promising is looking at how charter management organizations are trying to design that same combination of supports and accountability for the schools in their network. Some initial results are somewhat promising, but again there has not been a Systematic Research program. School choice. Clearly potentially valuable widespread support, but the thing that has not been talked about thats critically important what might be called peer group influences. I want to quote a brief quote from a working paper. Exposure to a disruptive peer in classes of 25 during Elementary School reduces earnings at age 26 by 3 to 4 . We estimate the exposure to children linked to Domestic Violence explains 5 to 6 of the rich poor earning gap in our data. You can understand in any system of competition competing for students what kind of students do you want to avoid . Students who are likely to have those kind of deepseated behavioral problems that come from Domestic Violence at home, perhaps from Domestic Violence that their families observed in Central America before they came to the united states. Thats i think it does not mean the choice is not a good idea, but it does mean that enormous attention needs to be played to where those children go to school and the consequences for them and for the children who are in school with them. Laws governing Charter Schools vary from state to state. There is little knowledge about where children go where and how that effects outcomes. On vouchers, another area of School Choice, there are lessons from observing chili. The country has had national k12 vouchers since 1981. The value of the voucher did not depend on the familys income, nor was there accountability for private schools. While this has been studied and the main consequences are three, stagnant achievement, growing gaps by income and increasing isolation of lowincome kids in particular schools. In 2008 chili changed its voucher system. Vou vouchers for poor kids are 50 more than vouchers for kids from affluent families. The School Receives a concentration bonus if it services a large percentage of poor kids and a significant accountability of schools that accept vouchers. That has led to substantial improvements and closing of gaps between low income kids. Again if people ask you what you think of vouchers, the only sensible response is to say i have about ten questions for you about how this voucher system is going to work. The details matter enormously. To sum up, the audit function is very important to the federal government. Be sure that the rules governing regulations dont hinder innovation, particularly in design of education for teenagers. Support research, especially in the consequences of state and local initiatives in these areas of accountability, teacher policy and School Choice. In all of these areas theres a great deal to be learned and about the consequences of details of these policies for the distribution of student achievement. Thank you. [ applause ] thank you so much. Those presentations were both so interesting. Talk about putting a lot of material in a few minutes. I have so many questions. Let me step back and ask a broad question, which is what the major problem to be addressed in education right now . Do we think the whole system isnt doing a good job of educating children or its doing pretty well for most kids but really poorly at the bottom . Kind of just broadly. Both you. Why dont i talk about the k12. Again, theres not one system. There are 50 systems and they look fundamentally different and they have very different outcomes and those outcomes matter. The federal government spends less than 10 of the money. It has some regulations that are not very popular. So the problem is there isnt one system. I think in Higher Education, youre talking about a diversity of over 4,000 institutions and they are very very different in terms of the students they serve, their focal mission. I do think in terms of picking one issue, it is the success of low and actually moderate income students and their capacity to both make good College Choices, to finance those choices and complete. Some people would say you noted in your paper that per capita spending has almost doubled in 30 years, but the results have been modest. Someone says why are we going to spend more and every time we spend more we dont do well. Maybe youre not advocating spending more. Are you advocating spending more on education . Two, how do you respond to the criticism that more money doesnt seem to matter . Theres been new work. Jackson and johnson have a very nice paper in the journal of economics where they show the impact of funding on Student Outcomes is greater than previously thought. Dianne and her colleagues have a second paper that shows the same thing. I think a key piece is that over time while the u. S. Has not gotten great at accountability, its very different than it was in 1965 when the education act was passed. It doesnt mean that all money is used well, but i think were beyond the point to say money doesnt matter. With title one it goes to 14,000 School Districts. That doesnt make any sense at all if youre thinking about having an impact on the lives of poor children. That it goes so broadly youre saying . Thats a political reality that doesnt make sense. In Higher Education averages are deceiving and theres no question that Money Matters. It depends on who you are as to whether resources have increased or not. If youre a student at one of the most elite universities in the country resources have increased. If youre attending a local Community College or access fouryear institution, its given that reductions in state funding that resources per student have decreased. Again, theres a lot of information and i think weve come around to see that on whole resources really do matter. At the same time thats a necessary but not a sufficient condition for education success and there is room in both k12 and Higher Education for innovations that essentially increase productivity. That is, improve Student Learning without changing the cost. Lets talk about School Choice, start with k through 12. I have a factual question i was going to ask sara from her paper. But both of you mentioned it. The every student succeed act has been enacted, but a lot of regs have not been promulgated yet. What is the scope for the next administration . How much leeway do they have to change education and in particular to think about charters and vouchers and what are the facts on that . I think a lot will depend on how the president elect uses the bully pulpit. It will be one thing. I think the effects through well, for example, there are these very detailed issues. Detailed issues. Theres language about the allocation of spending across schools in the same district and there is a big fight about how do you pay teacher salaries in schools that serve primarily middle class kids are higher because teachers are much more experienced. I think in the area of research, i dont think they have much leeway over Charter Schools, except perhaps to encourage more attention to these regulations through research. The fact we always hear about the study that on average Charter Schools arent any better, but to my knowledge theres not been a systematic look at these by states and the regulations on Charter Schools very enormously in terms of who they serve and whether if they do a poor job theyre eliminated or not. I think were on the same page entirely in that this notion we have 50 state experiments going on and we have an increasing body of evidence on matters like School Choice, the charter programs, as well as vouchers. Its good evidence, but its honestly a little bit mix in ed various forms. I dont think we would be comfortable suggesting that any piece is to definitive that it should suggest a specific set of federal regs on charters, vouchers or teacher compensation for that matter. We are learning a lot. Theres room to learn more. Its imperative to collect data, to assess it carefully, but the evidence actually doesnt i think support strong federal policies in this area beyond this important what im going to call an audit function and also this function of making sure that theres really the worst kinds of fraud and poor performance dont persist at the bottom of the distribution. After the esca was passed in 1965 that provided title i for significant federal funding for compensatory education, the department of education, with the support of the administration, used the withholding of title i funds as the stick to get southern School Districts to comply with the Civil Rights Act and effectively desegregate schools. It was not popular, but it did achieve the objective. Thats the question of whether the federal government is willing to use its regulatory power, because 10 is not a big percentage, but on the margin its significant dollars, but it does take a pretty heavy hand. Okay. I have more questions. Lets move on. Let me ask about teachers, which i thought there was interesting stuff in your paper and discussion about teachers, particularly this idea that within three years of a teachers career you know if theyre a fabulous teacher or a horrible teacher. You did mention that if teachers are basically there are people are going to be Great Teachers and people are going to be horrible teachers, then some of these pay for performance schemes, how much could it be exact expected to have an impact . You mentioned that theres evidence that within the first three years you can maybe turn create good teachers. I think a couple of things. First of all, in the right setting with the right support teachers improve well beyond the first couple of years, but only in those settings. Now, i think this pay for performance, thats the current name. The old name was merit pay. Mathimatica has done a study of the effects of a variety of teacher performance plans. My interpretation of that evidence is almost no effects, except in most cases most teachers got extra money. In those cases of course they were quite popular. Not a very powerful strategy, i think, but i would distinguish that from the situation of providing extra money to work in difficult situations. Combat pay will not do the job if theres not support to do the job, but if the job has particularly a longer school day, a longer school year, and is quite demanding, some extra pay for that can make sense, in subject areas youre having difficulty, some extra money for that, but thats very different from the performance based pay. So one of the things that people normally think about when you buy a house and where to send your kids you look at class size. I know there was controversy over whether or not class size matters. What is the current thinking on the importance of class size to achievement . I think the analysis of the at that star experiment that shows that having smaller class sizes in kindergarten makes a substantial difference, particularly in schools serving high concentrations of kids of color. I think as you get to higher grades the research is not nearly as clearcut. I think theres also this question of markets and implementation matter in this. The tennessee class size experiment is very different from the roll out of reduced class size in california, which, again, the incentives were to reduce class size effectively independent of other educational considerations. So actually kids are better off in a slightly larger class than a class that combines across grade level. You want to be careful in terms of how you do these roll outs so that you dont end up having the more affluent districts effectively buying the very experienced teachers from the lowincome districts. So, again, design matters. Implementation matters enormously in how these policies are put into play. Lets move on to higher ed quickly and then ill get to some audience questions. You talk about School Choice and thats a big problem, people are not going to the right schools. Is that really low hanging fruit. Would that be difficult to change or something that might not be that difficult and could have a big effect . Its something that can really have a big effect. It is very data dependent to do it well. It also is very differentiated. Done correctly you want to take into consideration theyre gee geography and achievement. Its important for students to understand the difference between the net price and financial aid. Students need to understand differences about how effective different colleges and universities are. Youre not going to find a student who says that they dont want to go to a very good college. All students say they want to go to a really good college. The problem is that students often cant distinguish between institutions based on their graduate rates or their resources per student. I want to come back to the class size when youre done if we could. Of course. Last question from me is going to be about one of the things you mentioned again looking for things that are easy and could have a big bang for the buck is closing some of the terrible places. Is there a federal role in closing and sort of supporting states in making sure theres enough Community Colleges, seats available, for these students to go to so you dont end up having people not having a place to go to at all. I think there is the human cost of institutions where my favorite there are institutions out there where the ontime Completion Rate is actually less than the default rate. That should be probably a clear indication that an institution isnt functioning as intended and is probably not using title iv aid well. I think it is imperative not to less these institutions to go on too long in this situation. The accreditation mechanism is nominally supposed to address this. I think it is ineffective and probably wasteful in the administrative time it takes. Its a lot of paperwork burden and is not identifying the poorly performing institutions. Okay. We should probably go on then. Thank you. Questions . Why dont you go right there. Hi. Ive done work for the department of education. Im curious what you think of some of the work that ies has sponsored. Has it exacted choices and the role of the Regional Education labs, where is that going and what has been its success rate . I think sara and i both feel that ies compared to what came before has contributed to a marked improvement in Educational Research and its not while ies does fund a great many randomized controlled trials exhib trials, thats not all it does contrary to what some people might think. I think the labs are a mixed bag. They have their own lobbying agency and they have a fair amount of money put aside for them. Im not so sure thats the best way. In fact, i think its not the best way to use scarce dollars. I think more competition for funds makes more sense. Again, im in the same view. I would emphasize on the ies grant funding. At its best it is the ies is investing in a portfolio of projects and they wouldnt actually be taking enough risk if all of them had big positive or had all showed positive effects. Part of this is to actually take good ideas that are theoretically driven, look at the data, come up with a good way to assess whether something works, what its costs are relative to benefits. Im actually less certain that its had a big impact on practice, but i think it has forced some discipline on researcher activity. I want to come back to a notion that you made in your remarks, but again this idea that collaborations may be really high return, both among states, among districts, where youre going to get an economy of scale that you cant get in innovation and System Development if you expect every small metropolitan area to, say, develop a teacher Performance Review program independently. Theres got to be enough s similarities between des moines and topeka thats worth funding. Last question. Keying off of dr. Summers chipping paint story this morning, environment is a very important thing to kids being motivated or willing to learn and its also a good segue to helping them go into the junior high years. It seems theres an opportunity to try to couple some policies with some local efforts to improve physical infrastructure, physical environment of the schools, as well as some of the social environment things as well. I think a lot of research has shown that social environment has a big impact on a students success. Are there considerations of some real policy ideas, structural ideas, that can be brought forth for that . Sure. Having schools, kids and the adults who work in them who want to be in seems like something we as a country can surely afford and should do and we havent done them. Many of our schools in boston are more than 100 years old. Okay. I think that we better move on. Im sorry there wasnt time for more questions, but thank you so much. This was an informative panel. The berkings institution on the future of public investments under the Trump Administration also heard from an aid to House Speaker paul ryan. He was joined by fellows from the right and left

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