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Monday, October 12, 2009

FromDC2Iowa: Iowa's budget cuts and the university

Excerpted from this post at FromDC2Iowa

Economic Collapse Tests Moral Values ... Iowa's Governor Chet Culver, left with very little option given the Iowa Constitution's requirement of balanced budgets, a decline in tax revenue, and the inevitable delay in a legislative response, has exercised his power to order across-the-board cuts in State spending. It's a 10% cut, roughly 50% more than most feared, and it's "starting today" ... Times are tough, and they're not likely to get better soon -- certainly not so far as unemployment is concerned, now heading into double digits. And even these numbers fail to take account of those who have given up looking for work, are no longer receiving unemployment benefits, the former full time employees now holding part time jobs, those who have jobs but are under-employed at low skill jobs paying a fraction of what they earned before, those who have taken a significant cut in pay or no longer have health care or other benefits, or those whose medical bills leave them no option but bankruptcy.

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Mike Schramm
Andy Szal

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