Study states nearly 80% of Congress lacks education in basic economics…

Close to 80 percent of lawmakers lack a basic education in economics, a new studysuggests. The study was conducted by the Employment Policies Institute, a nonprofit group that takes a conservative stand on fiscal issues and concluded that only 13.7 percent of Congress majored in business or accounting, and 8.4 percent have an economics degree.

On the Senate budget committee, five out of 23 members — about 20 percent — have a business/accounting or econ background, and on the House side, eight out of 37 members, or just over 20 percent, hold academic degrees in business or economics fields.

Sen. Mike Crapo (R-Idaho) sits on the budget committee and like more than three-quarters of his fellow committee members, he does not hold a degree in economics or business. He graduated with a B.A. in political science from Brigham Young University and a law degree from Harvard.

Crapo’s communications director Lindsay Northern said the survey’s emphasis on academics ignores a crucial political factor: constituents. “Sen. Crapo’s comment would be those decisions are best left to the constituents who elect their representatives in a democratic society, as it should be,” Northern wrote in an email.

The most popular majors among members were government and the humanities, with over half , 55.7 percent, bringing home a degree in those fields. There also few science students in the halls of Congress, with only 11.5 percent majoring in science or technology-related fields.

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