Former Education Secretary Bill Bennett tells Christine Romans why throwing more money at education won't fix our schools, but a little competition might.
When it comes to education, Governor Romney and President Obama agree on more than either side will admit.
They both want more charter schools. They both want teacher compensation tied to performance. And they both supported extending low interest rates on Stafford loans that help pay for college.
Where they disagree is on the role of the federal government. Mitt Romney praises some aspects of the Obama administration's Race to the Top program, but he says he would give more control to state and local governments.
The federal government pays for just 12.5% of all elementary and secondary education, and conservatives say the federal government imposes sweeping mandates but leaves others to pay the bill.
In April, Mitt Romney said that if he becomes president, the department of education will be "consolidated with another agency" or will be "a heck of a lot smaller".
So how does Arne Duncan plan to fix the education system? Watch the video from Your Bottom Line to find out!
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