High Cost of Education - Why?

When I went to college, starting in 1980, the cost was a bargain compared to today. In 1980, I think it cost about $1000 a year. I enjoyed college sooo much I wound up going for seven years!! Of course, I didn't go for education but went to party my ass off. I was not very productive... I majored in sex, drugs and rock and roll. It's truly amazing I survived to become such a productive member of society.

For some time now, we've heard about the increased cost of higher education. How it's increased over the years.

For the 2000-01 academic year, annual prices for undergraduate tuition, room, and board were estimated to be $7,621 at public colleges and $21,423 at private colleges. Between 1990-91 and 2000-01, prices at public colleges rose by 23 percent, and prices at private colleges increased by 27 percent, after adjustment for inflation.

And how it's eaten into the median family income:

Tuition has risen 126 percent (after inflation) since 1984 and is eating up an ever-growing chunk of family incomes. In 1984, the tuition and fees at a public, four-year college was just 4.8 percent of the median family income; today it's 9.5 percent.

These stats are from almost a decade ago and the increase is far greater today.

• The cost of tuition, fees, room, and board at public four-year universities has increased 52 percent, from $8,439 in 2000-2001 to $12,796 in 2006-2007 (in current dollars); and
  

• The cost of tuition, fees, room, and board at private four-year universities has increased 37 percent, from $22,240 in 2000-2001 to $30,367 in 2006-2007 (in current dollars).

We've heard about Obama's desire to provide affordable higher education to the masses:

we will keep our promise to every young American: If you commit to serving your community or your country, we will make sure you can afford a college education.

[...]

Finally, Obama says he will create a tax credit that would ensure the first $4,000 of a college education is free for most Americans.

This sounds great. I'm not exactly sure how he's going to pay for it all with the tax credits. But I can guarantee you the cost of higher education explode of the government winds up paying for everyone's college expenses. It's just economics. The universities will begin to inflate the fees knowing the government will payout. When the money finally runs out, where will we be left...

Now here the jest of this post.

Have any of you looked at the endowments of the major universities? Here's a definition of endowment:

Dictionary: endowment (ĕn-dou'mənt)
n.

1. The act of endowing.
2. Funds or property donated to an institution, individual, or group as a source of income.

Notice the phrase 'source of income'. It amazes me our higher learning institutions are charging outrageous tuitions while hoarding vast sums of money. Harvard's endowment in 2007? It's $34.6 BILLION dollars !! That's $1,456,940 per student (2006)!! Yale? How about $22.5 billion!! Public systems are not as fortunate, but let's not feel too sorry for them. The University of Texas has an endowment of $15.6 billion, University of Michigan has $7.1 billion...

I find it truly amazing all the major universities have such a vast pool of money they are accumulating while raising the cost of tuition at such an inflated rate. Where's the outcry from the Democrats? Why aren't they targeting their excesses? Could it be because the campuses are their playground?

I'm not for playing Robin Hood by taking from the rich and giving to the poor (or Obama's desire to 'spread the wealth'). So I'd like to be consistent. But what's the difference between high class executives getting such high salaries while their workers earn such meager wages and high class universities gorging on such exorbitant endowments (not to mention high faculty salaries) while placing their student body in such debt? Where is the common good in this?

Until the Democrats address such inequities, I'll judge them to be insincere and in the pocket of the intelligentsia just as the Republicans are in bed with the corporate oligarchy.

Either way both parties have become our plutocracy, our ruling elite...

peace

Madness at White Hart Lane

At the beginning of the Barclay's Premier League ( formerly the English Premier League), the hot teams were Tottenham Hot Spurs and Aston Villa. I picked them to place 6th with Villa in 5th and qualifying for UEFA. While Villa currently reside in 6th on the table, Tottenham dwell in last with an unbelievable 2 pts!! They've looked horrible!! They lost Keane to (hated) Liverpool and Berbatov to (evil) ManU, so they lost the heart of their scoring and it shows this season with only 4 goals and a -6 goal differential.

So after shafting manager Martin Jol last season, they've now dismissed Juande Ramos and are trolling after Portsmouth's Harry Redknapp. As good as ol' Harry is, I don't think he can save them from relegation. Only Southhampton ever fended off relegation with so few points.

The Guardian has an interesting take on the cause of the Hot Spur's woes. Seems Garth Bale is a jinx! I thought he was a promising young Welsh left back. I went so far as to pick him in a fantasy league for a bit. But the numbers just don't lie:

With Bale P: 15 W: 0 D: 6 L: 9 F: 19 A: 30 GD: -11 Pts: 6

Without Bale P: 32 W: 11 D: 9 L: 12 F: 53 A: 45 GD: +8 Pts: 42

peace

Obama's too late for Iran

Much has been said about Obama insisting he never said he'd talk to Iran (or other 'bad' nations) without preconditions, although there's tape of him saying just that during a Democratic 'debate'.

QUESTION: In 1982, Anwar Sadat traveled to Israel, a trip that resulted in a peace agreement that has lasted ever since.

In the spirit of that type of bold leadership, would you be willing to meet separately, without precondition, during the first year of your administration, in Washington or anywhere else, with the leaders of Iran, Syria, Venezuela, Cuba and North Korea, in order to bridge the gap that divides our countries?

COOPER: I should also point out that Stephen is in the crowd tonight.

Senator Obama?

OBAMA: I would. And the reason is this, that the notion that somehow not talking to countries is punishment to them -- which has been the guiding diplomatic principle of this administration -- is ridiculous.

But what is truly amazing is his stand may be for naught. Seems the fine leaders of Iran have other ideas like preconditions for us!! How about the U.S. leaving the Middle East and to stop supporting Israel!!

Vice President for Media Affairs Mehdi Kalhor said on Saturday that Iran has set two preconditions for holding talks with the United States of America.

In an exclusive interview with the Islamic Republic News Agency, he said as long as U.S. forces have not left the Middle East region and continues its support for the Zionist regime, talks between Iran and U.S. is off the agenda.

It is the Americans who are in dire need of reestablishing ties with Iran, he underlined.

Iran is not obliged to reestablish ties with the U.S., he said.

"If they take our advice, grounds for such talks would be well prepared," he said.

It is stupidity to hold talks without any change in U.S. attitude, he underlined.

Well, it's good to know someone is clear on where they stand...

Debate and Election

Took in the debate tonight. I've come to the conclusion this election is Obama's lose. His command of presence and eloquence is so superior to McCain it's not even funny. He's a natural where as McCain is surly and just not charismatic.

I think Obama was the designated victor tonight. He was just smooth and more in command. McCain, I'm sure, tried to be personable but failed. A side note - if I still drank, I'd love to play a drinking game with McCain's "my friends". We'd all be plastered after an hour and a half....

In reviewing the post-debate pundits, the consensus seems to be a clear Obama victory. There wasn't much McCain could do to close the gap and sure enough nothing happened to change it. As could be predicted, CNN and MSNBC clearly sided with Obama while Fox went with McCain. Have I mentioned recently how much I can't stand Keith Olbermann? He just makes my hair stand on end. He's as bad as Hannity but tries to pass himself off as a newsman. I just have a hard time watching him without gagging.

So, let's get ready for an Obama administration. It will be interesting and I hope it is a successful one. However, my biggest fear is an Obama administration coupled with a Democratic congress will run roughshod with a Progressive agenda on par with the New Deal era. If they enact all their desires, we will embark on a Socialist path with more government intrusion and dubious economic policies.

As much as I'm a political junkie, I think I'll have to abstain and just watch some baseball. I think it's only going to turn nasty and I just don't want to watch how ugly it's going to get.

Peace

Biden's Lack of Charity and Other Thoughts

Well, Palin's tax returns were released on Friday. The Palin's earned only $166,080 for 2007. I think that's kinda low for a two income family where one happens to be a governor of a state, but then I don't know how much Todd worked in 2007 if he was the primary care giver of the family since she was in Juneau. Either way, this shows they truly are a middle-income family.

I'd heard how much (or how little) the Biden's had given to charity a couple of weeks ago and was aghast at how little it was. They've given only $3,690 to charity since 1998!! This in spite of earning $284,000 in 2006 and 2007 alone. Only $3,690 for the last 10 years?!?!? I'm insulted!! Here is a man who is eagerly, willing and wantonly, planning on using MY taxes to redistribute America's wealth and yet he is unwilling to use his own money to assist those less fortunate than him. I guess he feels his taxes are enough of a personal commitment. So much for his Catholic faith of providing for the poor. I guess his belief of taxes being patriotic is his new faith:

“Catholic social doctrine as I was taught it is, you take care of people who need the help the most,” he said.

It reinforces the belief that Democrats just don't get how many Americans feel. We'd rather give our money to charities of our own choice than to give it to Government for them to dole out. Sad, just sad.

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Watched the VP debate on Thursday after a colonoscopy...talk about joy! I came in with questions about Palin after her interview with Katie Couric. The bits I saw were disturbing. Let's say some of the luster was lost. I began to question her readiness. There's no doubt she's set to be a major political player, but I was beginning to think it was a bit too soon.

However, after watching the debate, my fears were allayed. Don't get me wrong. She's still extremely green and has a lot to learn, but the foundation is there for her to be a power player. She held her own and sounded competent. She had a couple gaffes like that wacky expanding of the VP powers and mis-stating the commander in Afghanistan, but not nearly as bad as Biden's claim of the UN peacekeeping forces (at the behest of France and US) pushing out Hezbollah, his backing of 'clean' coal or that Obama never said he'd meet Iranian leader without preconditions. It's a shame Palin didn't pounce on these and nail him on them.

But I'm growing weary of this silly season and to think we have four more weeks of this nonsense.

Peace