https://www.yahoo.com/news/trump-administration-orders-sweeping-freeze-023609190.html
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The interesting thing about that freeze:: it is claimed to impact some $3T of spending. Isn’t that just about what the annual deficit is? Nope. I just looked. The projected deficit for 2024 was only $1.8T. That means, with one stroke, the budget is balanced, with another $1T to give to the “JCs”.
A few years ago, when the deficit was a paltry $1T/year, I did find $1T that could be cut from the Federal budget, under the simple principle that, if a state refuses to tax it’s people enough to cover it’s needs, why does that become the Federal government’s problem? The talk about closing FEMA and giving the states a lecture on “personal responsibility” would seem to reflect the same sort of thinking.
Steve
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The longer the delay with FEMA to give for the California fires the less CA will get. Pennies on the dollar.
Your math holds up.
Are college financing to the institutions but the students owe? Or to the students? It is not a blanket statement either way. It is probably half and half or worse mostly to the institution. Pell grants alone.
Sally Mae must be going through fits in the market right now.
How are yields? That is not my area of thinking.
I have two sisters with two kids had by both.
The young adults are more recent college grads. No debt, no financial help. If they did earn scholarships etc it was not discussed.
The oldest went to MIT tuition free because my sister works there.
The rest were paid for as they went. We escape this entirely.
Most families are nowhere near as fortunate.
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Well that just got ripped apart.
One of my BILs just leveled that his funding might be stripped by this. The other BIL may face the same outcome.
Harvard and MIT Faculty, respectively.
Major scientific researchers.
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College enrollment could be really hurt by this, fast. Ditto for the housing market for that matter. This is all part of the plan. This is all in Project 2025. None of us should have been surprised by any of this, other than the pace. We were warned. Half the country ignored it, or cheered it on.
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I have posted the graph before, showing how the state of Michigan has cut funding for universities. The cost has been shifted onto the students. So the students go hip deep in debt to the Federal loan program, to replace the money that used to come from Lansing. If Lansing doesn’t want to fund education, why does that become the Federal government’s problem? If Lansing doesn’t want to fund road maintenance, why does that become the Federal government’s problem? I turn on the local news, and constantly see reports of a new Federal grant for blight clearance, for more policemen, for roads, for sewers. Why are these local issues the Federal government’s problem?
Steve
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They felt we were getting far ahead of them just Bulling our days along. They were half right.
Regardless he will make losers out of those who supported him.
Because an educated populace benefits the country as a whole.
The other items (roads, sewers, blight clearance) not so much.
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According to exit polls, the winning party won 63% of the of people who failed to finish college, and less than 40% of the college graduate voters. Viewed in that light destruction of our system of education is a good thing.
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If state governments thought that, they would not defund education.
Steve
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The states have higher enrollment rates now than in the 1970s. They do not need to chip in nearly as much money to get results.
Because the students are going hip deep in debt with loans from the Federal government, to compensate for the state defunding education.
Meanwhile, recall “Plan Steve” to replace the deported workers with children who have been priced out of furthering their education?
A luminary holds forth on defunding school lunch programs.
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Time lags are CRUCIAL to the working of modern politics, and politicians sensibly (given modern short sighted ignorant electorates pushed around by instantgram and chyrons and do not give a rat’s patootie about good stuff like well educated citizens emerging from school more than a decade AFTER they have left office.
Politicians are even more at the Mercy of stoopid expectations and standards than those brilliant JC’s at Boeing and Ford, and Louis XV of “apres moi le deluge.”
If politics really is like business, then your children must be fired immediately. If our politics were anchored in societal moral solidarity over time, then we would look more like Finland. But our politics are immersed in short term sensationalism, rage, and tiktok dancing kittens.
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We have more people getting educated now. People who do not get educated in an overall tighter labor market with industrial economies of scale make better money than the supply side period of 1981 to 2020.
I want people well paid regardless of education.
Ayup, just like a “JC”. Do you think McNerney cares one whit that Boeing reported an $11B loss for 2024? Nope. He made his loot, by hollowing out the company, and got out, before the collapse.
Steve
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Nothing prevents Lansing from shipping the uneducated to Florida, Texas, and other states who WANT the uneducated.
Egg prices must fall to no more than $0.99/dozen by April 1, 2025. Otherwise, the CLAIM of “reducing consumer prices” is a documented failure–as usual.
Don’t worry, they will, they will (but only on April 1 and only for those who are willing to suspend their disbelief)! After all, that’s April Fool’s Day so they were only kidding.
Pete
So anybody who believes that price will be reached is an “April Fool”.