The imminent layoff of as many as 275,000 of the nation's roughly 3 million public school teachers has called forth the usual responses. Democrats, led by Sen. Tom Harkin and Rep. George Miller, want to spend $23 billion to bail out recession-ravaged state budgets and keep teachers on the job, but the rest of Washington has little appetite for stimulus-as-usual given the surging federal debt. Republicans say it's time states got their spending under control without Uncle Sam's help -- a fine-sounding idea until you realize that many schools in poor neighborhoods will see up to a third of their teachers dismissed, making Republican "tough love" look indistinguishable from child abuse.
Luckily, there's a third way that can rejuvenate America's teacher corps while charting a path toward fiscal sanity. The answer is to think "buyout," not "bailout."