Continuing to ratchet up his rhetoric, Senate Majority Leader Harry Reid falsely claimed on Thursday that a failure to raise the debt limit could mean "no schools for our children."
But in reality, federal funding only pays for 8.5 percent of the cost of the nation's elementary and secondary schools, according to the most recent data available from the U.S. Department of Education (for 2006 to 2007). Federal and local funding comprised the remaining 91 percent and change.
Reid made the claim on Twitter, where he wrote, "If we don’t reach agreement, it could mean no Soc Sec checks, no paychks 4 troops, no schools for our children."
Add the reality of the funding and the fact that schools will generally be on summer break come August 2, it's hard to see how Reid's statement could come anywhere close to being true.