How much are we spending on education? Actually, far more than we know—because as it turns out, states are hiding some of the teachers’ benefits.
In a new paper, Heritage expert Jason Richwine reveals that “Proper accounting would reveal tens of billions of dollars in extra teacher pension costs, equivalent to somewhere around $1,000 in unreported spending per student.”
That’s right—the real cost of education is far higher than we’ve been told, but it’s not because of extra classroom resources or newer facilities. It’s because of teachers’ pensions.
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