Contemporary test-based reforms are often grounded in the claim that test performance is the key to international economic competitiveness. However, this oft-repeated assertion lacks empirical support. According to the World Economic Forum, the United States' recent loss of economic competitiveness standing is due to macroeconomic instability rather than to a lack of workforce skills and knowledge. In contrast to the claims of President Obama and Secretary Duncan, the nation has no shortage of qualified job applicants. There are, on average, three qualified applicants for every high tech job. Furthermore, 80% of projected jobs require only technical or on-the-job training. The vast majority do not require the skills measured by contemporary accountability schemes. For example, only 5% require any math beyond basic operations. Educators must continue to focus on equality of educational opportunities for all children and, as contrasted with narrow economic rationales, embrace a broader vision of the purposes of education. (Contains 2 footnotes.)