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POPSProfessors want UCB to stop subsidizing sports programs at expense of academics More: "The data is eye-opening and quite troubling - athletic expenditures are rising three or four times faster than academic budgets," said William "Brit" Kirwan, chancellor of the University System of Maryland. He's co-chairman of the Knight Commission, which on Monday released a survey of university presidents' views on the cost of programs in the Football Bowl Subdivision, the nation's 120 top college football teams. "We're painfully aware of the global fiscal implosion and the impact it's having on academic institutions," Kirwan said. "As a result, 75 percent of presidents say we can't continue on this path."… The last time the athletes ran up a multiyear debt - owing the university $31.4 million by 2007 - the bill was forgiven, according to a written explanation of Cal's athletics budget and policies prepared in response to questions from the faculty.
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POPS'Cash for Clunkers' Runs Out of Gas Adam Lee, owner of Lee Auto Group in southern Maine, had stopped accepting clunkers at four of his dealerships because he was concerned the funds would run out. Mr. Lee said his firm accepted 100 clunker trades and is owed $450,000 from the government, none of which has been disbursed.
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POPSGrim Milestone... US Deficit Passes $1,000,000,000,000 For First Time Ever The country's soaring deficits are making Chinese and other foreign buyers of U.S. debt nervous, which could make them reluctant lenders down the road. It could force the Treasury Department to pay higher interest rates to make U.S. debt attractive longer-term. "These are mind boggling numbers," said Sung Won Sohn, an economist at the Smith School of Business at California State University. "Our foreign investors from China and elsewhere are starting to have concerns about not only the value of the dollar but how safe their investments will be in the long run." Fox News How about that Stimulus Bill? Obama will quadruple the US budget deficit his first year in office. And, he wants to spend trillions more for his Obamacare program. Related... Rep. Mike Pence said today that the Stimulus Bill is not working. Yeah, we know. Posted by Gateway Pundit
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POPS(Yet) Another New Tax From Which The Bottom 95% Should Probably Divert Their Eyes While it'd be a whopper, a national sales tax seems unlikely (despite the pesky mathematical consequences of the government spending gazillions of dollars it doesn't have). Republicans hate it because it's an enormous new tax. And Democrats don't love it as lasciviously as they do other taxes because it's less "progressive" (i.e. it doesn't disproportionately soak the higher income brackets as elegantly as, say, a steeply graduated income tax or a supplemental hundred-thousandaires' tax). Happily, there's a much simpler way to pay for Obama's newest trillion-dollar adventure: scrub it. Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look -- Levy Viewed as Way to Reduce Deficits, Fund Health Reform http://www.washingtonpost.com/wp-dyn/content/article/2009/05/26/AR2009052602909.html?wprss=rss_politics
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POPSWeak Dollar, High Oil Make Double Trouble--Dollar Limits Supply This article tries to spin the truth away from "conventional wisdom" (i.e. sober, rational, historical wisdom) to escape "geopolitical tensions" (i.e. war-mongering) and the weak dollar as a cause of problems, while admitting them as evidence of double trouble. But notice the observation by the energy economist that a "weak dollar limits supply by reducing drilling activities" --not a lack of oil exploration, but low incentive to drill! Follow this logic--it means that if oil prices would drop, there would be less incentive to drill. Thus high oil prices will be sustained until the weak dollar is fixed!
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