1. Equity in early education: An economic interpretation Clive Belfield Queens College, City University of New York belfield@qc.edu

2. Investing in early education The ‘multiplier’: Spending on roads generates further spending by construction workers, generates further spending by donut suppliers… Argument is strongest when each spender: –Spends quickly –Spends it all –Spends on local goods Each applies to ECE: start-up now at low-scale, low-paid workers, local workers

3. Intergenerational inequity Percent below the federal poverty line: Children under 521% Families: children under 619% with at least one worker14% with two workers 4% Aged over 6510%

4. The cost of equity Annual cost of Kagan’s 13 recommendations ~= $7 billion Context: CCDB grant = $4 billion State ECE spending = $4 billion Head Start spending = $7 billion

5. Chump change Federal Medicare spending$701 billion Dept. of Defense$480 billion GWOT$140 billion Dept. Homeland Security $43 billion