March 7, 2013 Page 3 One Man’s Opinion Another Man’s Opinion What If… Making Education Attainable By Gerry Chong and growing, we are living in an ever more Benefits Everybody“dangerous place.”The public consensus is that if only Republicans and Democrats would stop As discomfort with this “dangerous place” By Cristian Vasquez is not suggesting that they give away their squabbling and address the country’s grows, buyers of our debt will eventually Education has been a topic of discussion their education for free. Furthermore, it is needs, our never-ending financial crises can require a higher interest rate premium. Interest for Republicans and Democrats during every common knowledge that there are thousands be resolved and we can move on with our on our debt will then consume a greater local, state and national election. Many steps of corporations that provide full and partial lives. But WHAT IF the consensus is wrong? share of our national budget, thus increasing have been taken to address the academic needs scholarships to academically gifted students. WHAT IF our national debt is so large our debt further, squeezing out other valid of the nation, all with mixed results. President Unfortunately, the private sector alone cannot that it is no longer a political question, but functions of government, or both. Bush’s No Child Left Behind addressed our address the entire issue on its own. President one of arithmetic? WHAT IF the total debt Why doesn’t the Democratic approach national K-12 system while current President Obama’s increase in Pell Grant awards is and annual deficit are so large that neither work? Essentially, the private sector of the Obama’s Race to the Top expanded on what encouraging for current and future students Democratic proposals for tax increases nor economy is the driver of economic growth. the previous administration set into motion. who are seeking an avenue to financing their Republican proposals to cut spending, nor Raising taxes simply withdraws money from However, there is one area of education that schooling without getting into so much debt any combination of the two will make a investors, businesses and consumers, thus President Obama has been addressing during that upon graduation, they are being crushed material impact on our financial trajectory? stalling out economic growth. To state the his administration and that is the ability for by student loan debts. WHAT IF… obvious, this approach is counterproductive. students to afford a post-secondary degree. Our colleges and universities are so The simple facts are these: Our GDP in Why doesn’t the Republican approach work? It is hard to dispute that the more educated prestigious that they continue to attract 2012 was $15.8 trillion, but our national Between 1946 and 1964, Baby Boomers a person is, the more likely they are to earn students from abroad. It would be a shame debt is $16.4 trillion. Therefore our debt is added 76 million to our population. Add more money throughout their lifetime. With if our school financing system became so 1.04 percent of our productivity. Further, four million of the same age group from some of the best universities in the world, unaffordable that we as Americans would be The Congressional Budget Office projects immigration, and you have more than 25 Americans have all the tools necessary to unable to seek a higher education because that we will add $845 billion to our debt percent of our population needing Social prepare for a career and successfully transition the financial burden would not be worth the this year and add an average of $1 trillion Security benefits, Medicare, and Medicaid from student to professional. However, the expense. President Obama’s administration in new debt each year for the next 10 years. benefits. The primary drivers of spending cost of education continues to get higher and is aiming at having America produce the The obvious question then, is whether or not therefore cannot be reversed. higher, making it more difficult for students highest portion of college graduates in the our economy is beyond salvation. There appears to be no way to tax our way from a middle- and lower-socioeconomic world by 2020. Producing career-ready Earlier, economists Carmen Reinhart and out, borrow our way out, or cut our way out background to pursue a higher education. college graduates is a process that begins Kenneth Rogoff had declared that public of a long-term economic demolition. The According to numbers provided by the White in elementary school, but one that must be debt in excess of 90 percent of the nation’s daily economic battles are no longer about House, in 2010 students who took out loans for completed in college. In order to complete productivity “leaves a nation’s economy in political ideology, but now sound more like college graduated with more than $26,000 in that process, the issue of affordability must a dangerous place.” Similarly, economists angry cats in a bag, scratching to find the student loan debt, surpassing credit card debt. be dealt with in a reasonable manner. David Greenlaw, James Hamilton, Peter answer to a question that may no longer be In response to this crisis, President Obama The President’s increase in Pell Grant money Hooper and Frederic Mishkin said a nation answerable. has taken steps like raising the maximum Pell is not the ultimate solution, nor will it solve with debt greater than 80 percent of GDP WHAT IF we’ve set our ship of state on a Grant award to $5,635 for the 2013-2014 year. all the financial complications facing students. could see its finances spiral out of its own course that cannot turn to port or starboard, This is a $905 increase since 2008. Yet, it is a good incentive for students seeking control. Regardless of who is right, since our and dead ahead is a tipping point from which It is understood that these institutions financial aid to pay for debt is already at 104 percent of our GDP there is no return. WHAT IF… • of higher learning have expenses and this ON-SITE JOB FAIR! Saturday, March 9th 2013 8:00am-12:00pm at 501 Continental Blvd. El Segundo, Ca.90245 Recruiting for opportunitiesat our El Segundo & Thousand Oaks locations! Software Engineers Mechanical Engineers Electrical Engineers Systems Engineers Reliability Engineers Mechanical Engineers Applications Engineers Software Engineers Program Managers Senior Manufacturing Engineers Quality Inspectors Supply Managers Operations Administrators Technicians Assemblers jobs.teledynecontrols.com/
Manhattan 03_07_13
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