4 • TUESDAY, APRIL 19, 2011
OUR VIEW
Credit issue threatens US economy
Beyond the political rhetoric
about the expense of big govern-
ment comes this reminder of the
reality: The federal government is
so pathetically far in debt that
lenders have cut its credit rating
outlook.
Suddenly, as of Monday, the
U.S. government looks to be in
the same boat as, say, a car buyer
who doesn’t qualify for that
excellent zero down, zero percent
interest deal. The U.S. govern-
ment is now like the individual
who finds out his credit card
interest rate is much, much high-
er than the rate teased in a pro-
SKETCH PAD
OTHER VIEWS
Colleges price out middle class
The wildest college admissions
story of the year involves a 4-year-
old.
The tyke’s mother sued a New
York City preschool, claiming it
hadn’t lived up to advertising
claims that the $19,000-a-year
tuition would set her child on the
path to the promised land.
Instead of drilling for the intelli-
gence test needed for admittance
to a prestigious elementary school,
it seems the girl spent most of her
time — believe it, folks — playing.
“It is no secret that getting a
child into the Ivy League starts in
nursery school,” the mom said in a
legal brief.
Well, Harvard admitted only 6.2
percent of its applicants this year,
so perhaps this mother is on to
something.
In other news, waiting lists for
selective schools are at an all-time
high. And being raised by a tiger
mother paid off. The daughter of
Amy Chua — the Chinese mom
who recounted her stern childrear-
ing methods in a controversial
book — was accepted by Harvard
and Yale.
These are the stories we hear
this time of year, as the acceptance
and rejection notices from top-
flight colleges roll in.
It’s an entertaining exercise to
watch. But from a public policy
perspective, it’s almost irrelevant.
Dips in endowments aside, the
Ivies and their students will be
fine. Even their rejects will get by.
Kids who aspire to the Ivy League
usually have plenty of other choic-
es.
Here are some more meaning-
ful higher education stories to
keep an eye on:
—Students at all four campuses
of the University of Missouri sys-
tem will pay higher tuition next
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OPINION
motional mailer.
The federal debt arguments in
the elected halls of government
are an abstraction. The Standard
& Poor’s credit downgrade yes-
terday was reality. In providing a
negative rating to our country’s
credit, it set the stage for a lower
rating for the financial instru-
ments the U.S. uses to borrow
money.
That means higher interest
rates on top of a growing debt.
How big is that debt? S&P said it
grew from two or three percent of
gross domestic product from
2003 to 2008 to more than 11 per-
BARBARA SHELLY
year. Increases also may be in store
at some Kansas universities. A
report last year by the American
Council of Trustees and Alumni
warned that if tuition at Big 12 uni-
versities continues to increase at
the rate seen in the last five years,
the average family with a middle
school student can expect to
spend a quarter of its annual
household income on that child’s
college tuition.
—In a milestone moment last
year, the total amount of debt
owed on student loans moved
ahead of the nation’s collective
credit card debt. Students who
borrowed money left college last
year with an average debt of
$24,000. And many are asking
whether a college degree still car-
ries enough weight in the job mar-
ket to make the cost worthwhile.
—Every autumn, on community
college campuses, students and
teachers alike weep over test
results that show too many high
school graduates lack the reading
and math skills to enroll in college
courses. These students are chan-
neled into remedial classes — an
expense they hadn’t budgeted for.
Lack of preparedness is a big rea-
son that less than a third of the
students who enroll in a commu-
nity college with the goal of attain-
ing a two-year degree ever receive
one.
Four-year colleges also struggle
with completion rates. Four of 10
students who enroll at a college or
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cent in 2009.
The stock market took a huge
hit yesterday on the credit news,
providing an immediate negative
effect on just about anyone in
this country.
Maybe the market can do what
the politicians seem unable to do.
There is widespread agreement
on the need to cut spending, but
targeting areas to reduce
inevitably results in political grid-
lock.
The S&P downgrade notice
took note of the government’s
inability to face its economic
university don’t earn a bachelor’s
degree within six years.
For too long, we’ve been
focused on the campus entrance.
“Go to college,” we’ve told our
young men and women, holding
out a degree as the key to the
American dream. We’ve offered
them scholarships and grants and
loans and applauded them as
they’ve walked through the front
gate. But no one pays much atten-
tion when they slip quietly out the
back door with no degree and tons
of debt.
That’s starting to change. The
Obama administration has asked
states to come up with new
approaches for improving college
completion rates. The Gates
Foundation is offering incentives
to community colleges to work on
the problem.
Those are good moves, but they
confine themselves to the conven-
tional wisdom that at least some
college is good for everyone. A
growing number of counselors,
economists and, yes, academics,
are questioning that wisdom, and
instead recommending more
apprenticeships and vocational
training to prepare students for
middle-skills jobs.
The solution isn’t one approach
or another. Students need options
other than college and those who
opt for college need support once
they get there.
College admissions dramas
make for good reading. Jobs and
financial security make for happier
endings.
Barbara Shelly is a member of
the Kansas City Star editorial
board. Readers may write to her at:
Kansas City Star, 1729 Grand Blvd.,
Kansas City, Mo. 64108-1413, or by
e-mail at bshelly@kcstar.com.
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TODAY’S NEWS-HERALD
challenges. It suggested that fur-
ther federal bailouts may even be
ahead.
Deficits — in simple terms the
spending of more money than is
available — are threatening the
fragile economic recovery in our
country and drilling down to all
levels of government.
For individuals in this kind of
situation, the first step is to cut up
the credit cards.
That’s what the federal govern-
ment needs to do on a much
grander scale.
— Today’s News-Herald
YOUR VIEWS
Goals of city paid
for by homeowners
Editor:
I stopped by the Aquatic Center the other day. Found
out it was only open for swimming on Saturday. It got me
to thinking about three of the big controversial issues in
the news since I have been here.
The Aquatic Center. I can’t recall what all the hoopla
was all about, but whichever side won, are they on target
with the expectations and promises and services offered
with the Aquatic Center being open only one day per
week?
The sewer issue, I recall the AQMD threat was never
really clarified or verified and it seemed to me the pro
parties used the fear of AQMD reprisal on our septic per-
mits to urge yes on sewer votes. The drinking water and
the lake were the main focus. Well, the lake seems about
the same, the drinking water tastes the same, and the only
real difference I can see on a practical basis is that my
water bill is about three times higher than it was before
the project began.
Break it down any way they want on the bill, I can only
calculate my expense by total dollars out of pocket. It is
not good. And thank goodness we were never allowed to
install those commie alternative systems. We were saved
from something by not allowing them, saved from afford-
able water sewer bills.
And now, The Refuge. Who can possibly figure that
one out? I think the only answer is somebody has some-
thing to gain, and somebody has something to lose and
the only right answer is, if anyone has to pay one penny
more of our personal funds to assist the refuge promoters,
vote no. And the bad thing is, if it passes, like the issues
above, no one will really know who pays what till long
after the election, after it is too late. If there are guaranteed
tangible financial benefits to the city fine, but if not, it is a
promise and a gamble.
Judging from past experience on the yeah votes on the
issues above, it its unclear if the proper goals were met,
but it is clear to who pays the bills.
Thom Yaras
Lake Havasu City
Working class vs. working class
Editor:
On the subject of labor and unions, following are two
quotes from United States Presidents, both Republican.
“Labor is prior to and independent of capital. Capital is
only the fruit of labor and could never have existed if
labor had not first existed. Labor is the superior of capital
and deserves much the higher consideration.” —
Abraham Lincoln.
“Where free unions and collective bargaining are for-
bidden, freedom is lost” — Ronald Reagan.
Well over 90 percent of all American’s are or have been
among the working class. My curiosity is piqued as to
what reasoning is employed by these “new” Republicans
to pit the working class, against the working class.
Pamela Durbin
Lake Havasu City
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Phone: 928-758-0713
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