“Money can’t buy happiness,” goes the old saying. Now we have proof that it can’t buy better education in failing schools either. Just 48 hours before leaving town, President Obama’s Education Department admitted as much.

Around the time the Center for Education Reform released our First 100 Days recommendations to the new administration, calling for an immediate look at “how every federal dollar can better meet the needs of schools and students,” the Education Department posted a devastating new study demonstrating how urgent such a review really is.