Oct 26, 2011 9:34 PM GMT
WASHINGTON—In what is being hailed as a simple and elegant solution to the nation's current employment and education crises, a bill introduced in Congress Monday would shutter U.S. schools and give each student $3,000 to start a small business. "Where our teachers have failed, we believe our markets can succeed," said bill co-sponsor Sen. Lamar Alexander (R-TN), who told reporters the one-time expenditure on every American between the ages of 5 and 18 would force children to quickly develop the skills they need to survive in the free-enterprise system. "If a child has an idea for, say, a drywall-importing business or a firm that provides global outsourcing services, this plan lets that kid get started right away rather than bogging him down with years and years of expensive schooling." Supporters of the measure said it also incentivizes job creation by allowing former students to take out subsidized loans if they hire two or more out-of-work adults.