Thank you, Joe Tucci, for that kind introduction.

I want to thank Senator Kennedy for being here today. He was one of the chief sponsors of the No Child Left Behind Act. His work reminds us that Americans on both sides of the aisle can and should put partisan politics aside when it comes to educating our children. On a personal note, I want to thank Senator Kennedy for his support for my nomination as secretary.

I also appreciate Congressman Mike Castle being here today. He chairs the Subcommittee on Education Reform. It's been a pleasure to work with him over the last four years.

I want to thank Henry Johnson for making the trip up here today. He is the Mississippi superintendent of education. Without the hard work and commitment of state officials like Henry, our efforts to improve education would accomplish little. No children are educated at the Department of Education. It's the Henry Johnsons of the world and all the other great educators who are doing the hard work of closing the achievement gap.

And finally, I'm happy to see Ray Simon here today. I saved him for last because I see him almost every day. He serves as the assistant secretary for elementary and secondary education, and we're lucky to have him bring a practical approach to No Child Left Behind implementation. Thank you for coming today.

I often like to joke that No Child Left Behind is my youngest child, and I'm now about three years post-partum. It's just hard for me to believe that this law has already turned three-years old. They do grow up so quickly. I want to give the Business Roundtable a personal thanks for hosting today's belated birthday party in honor of the third anniversary of the No Child Left Behind Act.

I especially appreciate all your support for education reform. You have been a reliable and true friend to America's children. You understand that today's students will be your future workforce and the next generation of voters and active citizens. And you want them to be ready to excel in the jobs of the 21st century. When we passed the No Child Left Behind Act three years ago, we had that same goal in mind.

No Child Left Behind said that every child has the right to a quality education and the chance to succeed in the 21st century. It said that we should measure our children's progress from year to year, so we can discover where they need help before it is too late. It said that schools should be accountable for making sure every child reads and does math on grade level. And when schools fall short of their responsibilities, it said parents must be given information and options.

Now in return for our investment in education, we are insisting on results and accountability. We've learned a new equation: "Accountability plus high expectations plus resources equals results."

And as a result, across the nation our children's test scores in reading and math are rising, with minority and disadvantaged students leading the way. After many long decades, the pernicious "achievement gap" is beginning to close.

But we still have much work to do. The first round of No Child Left Behind reforms focused on grades 3-8. And now we must finish the job in our high schools. Every child needs to graduate with the skills to succeed in higher education or the economy of the 21st century.

Right now we are falling short of this goal. Let me share a few disturbing statistics with you.

• Out of a class of 100 ninth-grade public school students, only 68 will graduate from high school on time--just 68, meaning almost one-third of these students will not graduate on time.
• One recent study found that only 32 percent of students leave high school with the skills to succeed in college.
• As a result, out of those 100 original ninth-grade students, only 27 are still enrolled in college for their sophomore year. This is a scary sign when you consider that 80 percent of the fastest-growing jobs in the 21st century will require at least some postsecondary education.
• And we have also recently seen that American 15-year-olds lag behind their peers across the world in math.

With these statistics, it should come as no surprise that American companies and universities must spend billions of dollars each year on remedial education. We face a new gap--a "skills gap," which leaves our high school graduates unprepared to succeed in higher education and the workforce.

We must restore the meaning of a high school diploma. A diploma must represent a ticket to success in the 21st century. So the president has proposed a new $1.5 billion High School Initiative to close this skills gap. This initiative will allow high schools to develop timely intervention programs to help save students at risk of falling behind or dropping out.

As part of this initiative, we also will ask states to expand testing in high schools, and we will provide the funds to do it, just as we have with the assessments in grades 3-8. Without assessment, there is no way of measuring the progress students are making. And without testing, there can be no accountability for results. Governors around the country, both Democrat and Republican, agree that we must strengthen our high schools.

As we learn more and more about the economy of the future, we must focus on giving our children the skills they will need to succeed. For example, leading employers have told us that math skills will be essential to success in the future. And yet almost two-thirds of employers give high school graduates fair to poor marks in math. So the president has proposed a $120 million initiative to strengthen the quality of high school math programs.

We also know that the fastest-growing jobs in the United States require some postsecondary education. As we prepare more and more students for the challenges of higher education, we must make the dream of college available to more low-income students. The president's budget expands funding for Pell Grants to more than $19 billion over the next 10 years. The maximum student grant would increase from its current level of $4,050 to $4,550 over the next five years.

The budget also includes $33 million for a new Enhanced Pell Grants for State Scholars program. We want to reward students who take the most rigorous course loads in high school and work hard to prepare for the challenges of college. Enhanced Pell Grants will provide an additional $1,000 to low-income students who undertake a demanding high school curriculum. Financial troubles should not dim a student's hope of attending college.

If America is to remain the best place to do business in the world, we must continue to stay the course on No Child Left Behind. And we must extend the benefits of this law to our high schools. We also must continue to listen to you, the business leaders of America. You have a unique understanding of what skills our children will need to succeed in the future.

I've given you a lot of statistics--all of them sobering. I know you recognize the importance of strengthening our high schools and continuing to make the system more accountable. Businesses understand the importance of accountability, which is why you have been one of our most steadfast allies on No Child Left Behind.

Now we need your help again. Our work will not be complete until we have extended the principles of No Child Left Behind to our high schools. Help me spread the message. America's economic future depends on our success.

I look forward to working with you and all the other panelists today as we continue to work to realize the great promise of No Child Left Behind.

Thank you.

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