thank you very much, larry schwartz. >> when it comes to education funding as i mentioned earlier, we're number one in spending and number 34 in times of results. that has to change. the crept education funding has formula grants meaning there were no performance incentives in the grant process and the school district gets the numerical formula and that's what they're going to get whether they do a good job a bad job, it doesn't matter they get the same level of funding every year. the federal government is more innovative in this area and they're doing it now in the area of education where they run competitions and for example, when they fund the state government if the state government wants to qualify for the federal money they have to win the competition. we know in new york how effective those competitions were in making the state government actually move and pass the piece of legislation authorizing charter schools so we could qualify to the race to the top money. competition works. when i was in the federal government ten years ago we moved from blocked grants to competitive grant

thank you very much, larry schwartz. >> when it comes to education funding as i mentioned earlier, we'reber one in spending and number 34 in times of results. that has to change. the crept education funding has formula grants meaning there were no performance incentives in the grant process and the school district gets the numerical formula and that's what they're going to get whether they do a good job, a bad job, it doesn't matter, they get the same level of funding every year. the federal government is more innovative in this area and they're doing it now in the area of education where they run competitions and, for example, when they fund the state government if the state government wants to qualify for the federal money, they have to win the competition. we know in new york how effective those competitions were in making the state government actually move and pass the piece of legislation authorizing charter schools so we could qualify to the race to the top money. competition works. when i was in the federal government ten years ago we moved from blocked grants to competitive grant

thank you very much, larry schwartz. [applause]u ve when it comes to education funding, as i mentioned earlier, we're number one in spending, we're number 34 in terms of results. that has to change.educ the current education funding oe goes out by formula grants meaning there are no performance incentives in the grant process. a school district gets their numerical formula, and that's what they're going to get whether they do a good job, a bad job, it doesn't matter. they get the same level of t funding every year. the federal government isd actually more innovative in this area.t th they're doing it now in the area of education where they run competitions. and, for example, when they funh a state government, the statecai government wants to qualify for the federal money, they have top win the competition. we know in new york how effective those competitions were in making the statey government actually move and pass a piece of legislation authorizing charter schools so we could qualify for the race ta the topnd money.f