http://www.coursepedia.com/index.php/blog Blog Description en-us http://www.coursepedia.com/index.php/blog/blogdetail/bid/620 26-Aug-2010 While the recent news of the government granting millions of dollars to the states to reform education system came in, the US government apparently has another deficit to fill and this is yet again the education system deficit. For reasons best known, we know that the American education system is not what it used to be and its ability to produce students with fantastic degrees has gone low. And today it is lower than many other countries. However, the graduates from the American universities and colleges are good but today they face a threat in the global markets. the country is struggling to maintain an economic balance. The recent study and statistics are appalling and in fact, shocking. What used to be the scene in America ten years ago, is now lost. US had the highest number and percentage of students who held a degree between the ages of 25 and 35. This was the highest in the world as well. However, due to the recent recession and other policy discrepancies, today USA ranks 12th in the world and this is considered to be a major drop amongst the developing countries. Countries like South Korea, Japan and Russia are ahead of America today where the educated workforce is concerned. Many college authorities feel that this is the right time to stress upon the importance of a college degree. Earlier not many wanted to go in for universities or college but today the job market requirement is such that everyone needs to have a college degree. But they also stated that US's ability to compete in the world economy has gone down. One plus point is that unlike other governments, the Obama government has accepted the wrong doings and is striving hard to bridge the gaps. Good thing is that they have started now and many years down the line, one will see good results. Earlier this year, President Obama at the University of Texas, Austin stated that America needs at least 8 million more college/university graduates in a decade from now to be able to compete in the global economy and contribute to it effectively. For the president, education and economy of the country go hand in hand. He believes that if America does not produce enough educated workforce then we will stay behind in the race whereas other countries who stress much more on academics, will benefit. However, the education system is facing a major crisis situation. Termination and change of rules are not the only issues. But the fact that the tuition prices along with the university fees have gone up and that students cannot afford them anymore, posses as a major threat. Students who manage to take loans end up in debt and this should not be happening. Therefore, the government is working towards rectifying these issues at their earliest best. One needs a clear plan to work out how the education system and the economy of the country are going to benefit simultaneously. And this would mean that the American citizens benefit as well.