Study: 80 Percent of Lawmakers Lack Academic Background in Business, Economics

And these are the people in charge of our economy:

Congress might want to find some consultants as it tries anew to tackle the country's deep deficits. A report from the Employment Policies Institute finds that only one in five members of Congress has an academic background in business or economics.

The organization looked at lawmakers' college degrees and found that most of them -- 55.5 percent -- majored in either a government-related field or "humanities." Just over 8 percent majored in economics, while almost 14 percent studied business or accounting.

The numbers raise questions about their ability to tackle tough economic challenges when they return from break early next month. The Obama administration, as well as lawmakers touring their districts, are clamoring for a new approach to the jobs crisis. Meanwhile, a congressional "supercommittee" is set to get to work finding $1.5 trillion in deficit reduction over the next decade.

But that supercommittee may have the same education deficit as the rest of Congress. Just four of the 12 members on that committee have an academic background in economics or finance -- Rep. Jeb Hensarling, R-Texas; Rep. Dave Camp, R-Mich.; Rep. Xavier Becerra, D-Calif.; and Sen. Max Baucus, D-Mont.

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