Governor Arnold Schwarzenegger further revised the University of California’s budget, proposing another cutback of $322 million on Wednesday, May 20. This cut, in conjunction with other proposed budget cuts, will cause the budget to be pushed back an astounding $531 million. In a statement released that same day, UC President Mark Yudof described this cut as the "anti stimulus package," referring to President Obama’s bailout plan and the funds from it that are anticipated to be distributed. In order to get out of a financial crisis as difficult as this one, Yudof states that the greatest investment the government can make is in its human capital. "In tough times, great research universities are not luxury items; they are engines for recovery," he wrote. "The innovations developed at institutions like UC lead to new products, new industries and new jobs."

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by Maxine Wally, New University.

Posted: May 26th, 2009, by: admin. Categories: . Awaiting Comments.