Good morning, everyone. My name is nirra tanden president and ceo of the center for american progress, and im really honored to be joined by our esteemed Commission Members for the new report from the Inclusive Commission a commission convened over a year and a half ago. Im very honored to be joined by our cochairs, dr. Larry summers, former treasury secretary, and ed ball shadow chancellor of the exchequer for the u. K. We convened this commission because we at cap are very focused on the challenges the middle class is facing in the United States, challenges of stagnating wages rising costs. What we recognize these were not just trends that the American Public is facing. Its really Global Trends are faking us and we can learn from other countries. So that is why weve undertaken this effort. I hope everyone has gotten our report, a very big report. And im going to now turn it over to larry and ed, and then i will ask questions of our Commission Members to get their thoughts, and then r
Weve done for bringing out examples around the world that other countries have found ways to think about Human Capital in broader and often more successful ways than the United States. Clearly when you think about Human Capital, you need to start from prek. You need to get kids early. You need to invest in them to make the school ready. You need places to provide quality education so they are prepared to go on. Access to Community College and Higher Education clearly play a role. Another things that we dont put much emphasis on but others have is working on apprenticeship. What do you do for the large number of people that are not going to go onto Higher Education. How do you give opportunities for them. Those countries have opened up a broad range of jobs that pay off. They clearly raise earnings. About 300,000 increase in participation in it. The return on every public dollar in some cases 23 for every 1 invested in these programs. They play a vital role for those with less than High
Role. Another things that we dont put much emphasis on but others have is working on apprenticeship. What do you do for the large number of people that are not going to go onto higher education. How do you give opportunities for them. Those countries have opened up a broad range of jobs that pay off. They clearly raise earnings. About 300,000 increase in participation in it. The return on every public dollar in some cases 23 for every 1 invested in these programs. They play a vital role for those with less than High School Education or High School Education for good paying jobs in the future. Fantastic. I would also like to ask jennifer who provided a lot of good ideas around innovation and innovation clusters in looking how regions can adopt strategies for Economic Growth. Jennifer, can you share your views . Yes. Thanks so much. I appreciate having been invited to be part of this because as the former government of michigan representing a part of the country that really has been the
Budget cuts civic under current law you have problems there is not enough money currently. We will offer amendments on the democratic side to stand up for students and parents. Twothirds of the College Graduates have an average debt of over 29,000. The general consensus is we ought to do more to make college more affordable. I used to be able to see that far. [laughter] just a few years ago. You mentioned in School Subsidies can you explain it . To make under current law if you borrow from the federal government for a student loan the government subsidizes the Interest Payment while you are still in school. The proposal from the fiscal condition would require the student paid the interest cost. So as a student or the parents pay the interest while they are in school . Yes. For the graduate Student Loans the policy was adopted recently maybe two years ago spinet that is an important point for students to be prepared now they have to pick up soloed payment. It was a bipartisan basis a co