California college students are protesting a tuition hike of 32% brought about by the compensation packages won from the state by the public employees unions. Apparently the 1999 California Democrat-controlled legislature thought the Dow would forever go up, sort of like the housing prices, and it made promises to unions it now can't keep without stealing from the young. In one decade pension costs went up 2000% and revenue 24%. What incentive is this for students to go to college if they can get huge pensions doing maintenance for the state? And what evidence is there that members of the California legislature ever went to college if their math skills and understanding of economics are so poor?
UC Tuition Hikes and Public Employee Pensions - WSJ.com
Wednesday, March 10, 2010
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