Local Paper Front Page: Fed chief touts state's progress, urges an investment in people

In between the statistical data, the dour outlook for state budgets, and the declaration that the longest recession since World War II is at least technically over, Federal Reserve Chairman Ben Bernanke talked Monday of how the South has come a long way in educating its residents and transforming its economy.

Bernanke could speak with a degree of authority on the topic, having attended public schools in tiny Dillon, where he also worked for three summers at the famous South of the Border tourist attraction.

“When I attended public schools in South Carolina in the 1960s, measures of per-pupil spending, years of schooling, and student achievement in the South lagged significantly behind other parts of the country,” the Fed chief said in a speech at the Southern Legislative Conference in Charleston. “Since then, those indicators have changed, very much for the better.”

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Posted in * Economics, Politics, * South Carolina, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Economy, Federal Reserve, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Personal Finance, Politics in General, State Government, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government