Statement by Secretary Paige Regarding Testimony of Federal Reserve Chairman Greenspan

March 11th, 2004 – U.S. Dept. of Education

Statement by Secretary Paige Regarding Testimony of Federal Reserve Chairman Greenspan

U.S. Secretary of Education Rod Paige issued the following statement on the testimony of Federal Reserve Chairman Alan Greenspan before the House Committee on Education and the Workforce on March 11, 2004:

“I appreciate Chairman Greenspan’s remarks about the relationship between quality education and our nation’s competitiveness in the 21st-century global economy. By lending his considerable expertise to this issue, Chairman Greenspan highlights the need for greater responsiveness from our education systems at all levels as we work to meet the changing needs of a global society. Despite increased spending over the last three decades, the status quo, monopolistic education system is not keeping pace with the demands of the rapidly changing economic system.”

“As Chairman Greenspan noted, our students are lagging behind those in many other industrialized nations by the time they leave high school. Our students and families deserve better. Our nation needs better.”