Hundreds of schools—including some of the most prestigious institutions in the country—have tightened their belts. That is bad news not just for the schools and their students but for the communities that depend on them for jobs. This pain is already being felt in places like Pullman, Wash., home to Washington State University. The city has 30,000 residents, of which 24,000 are either students or school employees. In the past four years WSU has eliminated 581 positions—more than a tenth of its workforce. State aid has fallen by $240 million over the same period… The effects have rippled across the local economy. Housing prices declined and housing starts fell to a 20-year low, in part because laid-off workers moved away. Students spent less and the city’s sales-tax revenue fell by 15%.

Read full article [here].
by Douglas Belkin, The Wall Street Journal.

Posted: July 22nd, 2012, by: admin. Categories: . Awaiting Comments.