Staff Reports
In addition to $41 billion in new facility construction expenditures in the first two years, Wharton projects that universal preschool education for three- and four-year-olds will cost $351 billion over the next ten years. A 2.41 percent increase in government debt in 2053 compared to baseline is the result of this approach.
In addition, children under the age of 3 are placed under the care of the government.
Economic growth will be virtually unchanged in 2053 due to the positive effect of reducing the national debt. They say that the increased productivity that comes from more people getting more education and more people entering the workforce as carers will more than make up for it.
In the far future, they’ll be utilising very arbitrary criteria. In the year 2053, it will be impossible to quantify the benefits of “more production and more caretakers.”. In order to assert that the GDP would remain the same in 30 years, it should not be used at all.
Including new construction expenditures, a prekindergarten programme for four-year-olds would cost $196 billion over the next decade. In 2053, this approach will result in a 1.42 percent increase in the national debt, and a 0.03 percent increase in GDP.
According to the Daily Wire, President Joe Biden advocates a programme like this in his 2020 campaign platform and 2021 American Families Plan.
The preceding is a summary of an article that originally appeared on Independent Sentinel.
