Friday Facts: July 24, 2015

Friday Facts
July 24th, 2015 by Leave a Comment

It’s Friday!

Flags flew at half-staff around Georgia and over Georgia's U.S. Senate offices this week to mourn the four Marines, including one from Marietta, and a sailor, who were killed by a Muslim gunman in Chattanooga, Tenn.
Flags flew at half-staff over Georgia’s U.S. Senate offices in Atlanta this week to mourn four Marines, including one from Marietta, and a sailor killed by a Muslim gunman in Chattanooga, Tenn.

Monday is the deadline! Register now for the Georgia Public Policy Foundation’s annual Friedman Legacy for Freedom Day event at Vic’s on the River in Savannah. The Policy Briefing Luncheon on Wednesday, July 29, is keynoted by Dr. Ben Scafidi, Georgia’s foremost expert on education funding. He will preview education issues in the 2016 Legislature and review the legacy of Milton Friedman, Nobel Prize-winning economist and school choice champion. Sponsored by the Friedman Foundation and the Georgia Charter Schools Association. $30. Find out more and register here.

Quotes of Note

“If we are to have that harmony and tranquility, that union of spirit which is the foundation of real national genius and national progress, we must all realize that there are true Americans who did not happen to be born in our section of the country, who do not attend our place of religious worship, who are not of our racial stock, or who are not proficient in our language. If we are to create on this continent a free Republic and an enlightened civilization that will be capable of reflecting the true greatness and glory of mankind, it will be necessary to regard these differences as accidental and unessential. We shall have to look beyond the outward manifestations of race and creed. Divine Providence has not bestowed upon any race a monopoly of patriotism and character. The same principle that it is necessary to apply to the attitude of mind among our own people it is also necessary to apply to the attitude of mind among the different nations.” – Calvin Cooidge  

Education 

Lesson in spending: It’s crucial that students read at grade level by the third grade. No. 1 in the nation for low-income students on reading is Florida, where 66 percent of students read at the basic level and 27 percent at the proficient level, as measured by the NAEP 4th grade reading test. This comes despite Florida spending less on K-12 education as a percentage of personal income than all other states and having the eighth-highest poverty rate. 

The case for school choice: ZIP codes matter: If you want a good public education for your children, it appears, you need to be rich first. Vox analyzed the District of Columbia public schools with the best grades in reading and found they were in areas with the highest housing costs. 

Regulation 

We warned you: This week marks the fifth anniversary of the Dodd-Frank Act. In June 2012 we wrote about the negative consequences to Georgians of the Dodd-Frank Act in “How Dodd-Frank Price Controls Poach the Peach State’s Prosperity.” In The Wall Street Journal, Rep. Jeb Hensarling states, “Before Dodd-Frank, 75 percent of banks offered free checking. Two years after it passed, only 39 percent did so – a trend various scholars have attributed to Dodd-Frank’s ‘Durbin amendment,’ which imposed price controls on the fee paid by retailers when consumers use a debit card. Bank fees have also increased due to Dodd-Frank, leading to a rise of the unbanked and underbanked among low- and moderate-income Americans.”

Events

October 15: Arthur Brooks, president of the American Enterprise Institute, (who The Wall Street Journal calls “the leader of Washington’s hottest think tank”) is the keynote speaker at the sixth annual Georgia Legislative Policy Forum. 7:30 a.m.-3:30 p.m., Thursday, October 15, at the Renaissance Waverly Atlanta. The theme is, “Wisdom, Justice and Opportunity.” Details here. Registration is $125 per person; an Early Bird rate ($100) applies until Friday, September 4. Register here. Sponsorships are available; contact Benita Dodd.

Friday Flashback

This month in the archives: In July 2006, the Foundation published, “UPS President Brings Home Outsourcing Debate,” excerpts of a speech by David Abney. He said, “If we are to win in this new global economy, we absolutely must work together to make education and training at all ages a priority. Education is critical to our economic development futures.”

Media

The Forum: In “Checking Up On Health,” Benita Dodd shares problems with the Affordable Care Act, the $153,000 snakebite hospital bill, the massive price range for hospital costs in childbirth, and more. The Dodd-Frank Act Wall Street Reform and Consumer Protection Act marked its fifth anniversary this week; read about the Durbin Amendment and congressional testimony about Dodd-Frank’s impact.

Foundation in the media: The Atlanta Journal-Constitution published an op-ed on civil asset forfeiture by Benita Dodd, “It’s Still Theft by Another Name.” Her Foundation commentary on civil asset forfeiture was published by The Columbus Ledger-Enquirer, The Effingham Herald, The Polk County Standard Journal, The Catoosa County News, The Cherokee County Herald, The Calhoun Times, The Columbia County News and The Pickens County Progress. Kelly McCutchen’s commentary on the Georgia Works program was published by The Effingham Herald.

Social media: Follow us on Instagram at instagram.com/georgiapolicy! Join the Foundation’s 2,414 Facebook “likes” and 1,440 Twitter followers at twitter.com/gppf.

Visit www.georgiapolicy.org to read our latest commentary, “Time for a Do-Over on Dodd-Frank,” by Dorothy Jetter.

Have a great weekend!

Kelly McCutchen and Benita Dodd  

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