Severe budget cuts at the federal and state level caused Education Secretary Arne Duncan to warn Congress about the long-term effects of education cuts on global competitiveness and economic growth (“Duncan Warns Congress on Impact of ‘Sequestration’ on Education Programs,” Washington Post, February 14, 2013). In 2013, nearly two-thirds of states still spent less money on education per student than in 2008; meanwhile, other countries in Europe and Asia have increased spending on education despite the economic downturn. If the reduction in education spending in the United States does in fact slow economic growth, explain why the effects of the slower growth will be felt much more by your grandchildren than by you today.