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Thread: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by Somerville View Post
    Funny, the numbers say something which fails to support the bubble claim
    Funny you would say so, given that "the numbers" actually say quite emphatically that we are in an education bubble.

    Firstly, prices have skyrocketed well ahead of inflation even as deeper and deeper financing has become common among purchasers as has increasingly sub-prime lending. An assumption of positive return means a steady supply of purchasers, many of whom find that their investment is wasted as of those who go to college a majority don't graduate in 4 years and a little less than half of them will not graduate at all. And of those who do manage to graduate, half of them end up working in jobs that do not require a college degree.

    Now you say that purchasing is starting to trend down? That's right, and because prices are rising while ability to repay has decreased and return-on-investment has dropped deliquencies are rising. Because it's a bubble - and the numbers say so .
    Worth noting, Democrats: President Trump will have a Pen and a Phone. #Precedent.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by SouthernDemocrat View Post
    Let me let you in on a little secret. Most people on here, myself included, have spent their adult lives working in the business in the world. We all know how businesses operate. Many of us deal with budgeting, projections, and so on. You seem to have this fantasy that a government can always just slash its taxes and everything will work out. If a state's taxes and spending levels were not that high in comparison to other states to begin with, then when it cuts its taxes by a lot, most likely it will not have the revenue sufficient to meet its public sector obligations. This is what happened in Louisiana, and it is what is happening where I live in Kansas.
    Best of luck to you.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by rabbitcaebannog View Post
    It is so short sighted NOT to invest in a country's educational infrastructure. We will shoot ourselves in the foot!
    It all depends on the quality of the education. Just throwing money at a problem doesn't necessarily fix it, as has been evident for a generation or more.

    You'll have seen that the government always wants more money as well, but it doesn't mean the taxes they receive are well spent. This applies to governments everywhere.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    The article in the OP points out:

    The change would bring state funding for LSU from around $3,500 per undergraduate student to $660 per undergraduate student next year.
    Now I certainly would agree that the cost of college has well outpaced inflation and we have to curb it. However, to go from funding levels of $3500 per student to $660 per student goes well beyond that. Cuts to curb cost growth might be a 10% reduction in funding or maybe 20%. They might also include a freeze in growth for x number of years. However, if you think you can cut funding to higher education by over 80% in just one year and think that will just all work out and the colleges will find the savings, then you are living in a fantasy world. You may as well start believing in unicorns.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by Grant View Post
    It all depends on the quality of the education. Just throwing money at a problem doesn't necessarily fix it, as has been evident for a generation or more.

    You'll have seen that the government always wants more money as well, but it doesn't mean the taxes they receive are well spent. This applies to governments everywhere.
    These governors aren't cutting funds for higher education because of the quality. They cut because they don't want public institutions to exist. It's short sighted and will come back to haunt us.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by rabbitcaebannog View Post
    These governors aren't cutting funds for higher education because of the quality. They cut because they don't want public institutions to exist. It's short sighted and will come back to haunt us.
    It is more than short sighted it is criminal. These law makers should be locked away in their own privatized prisons. The money is going to their contributors instead of the people and there is not enough to go around.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by SouthernDemocrat View Post
    Well that is your opinion, but that nothing to do with how a business operates. So you might want to leave that analogy aside. If the government is a business, then the government needs revenue like any business would to provide the services it is chartered to provide.
    If the government is a business it can earn its revenue.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by fmw View Post
    Government has no business doing that, by the way.
    Why? Basic research, which includes funding for science, among other activities, is a public good in terms of economic parlance. Basic research helps build a foundation for progress in myriad fields.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by donsutherland1 View Post
    Why? Basic research, which includes funding for science, among other activities, is a public good in terms of economic parlance. Basic research helps build a foundation for progress in myriad fields.
    Government has no business spending money on research either.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by rabbitcaebannog View Post
    These governors aren't cutting funds for higher education because of the quality. They cut because they don't want public institutions to exist. It's short sighted and will come back to haunt us.
    What evidence do you have that 'they' don't want public institutions to exist?

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