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Talking MA Politics The political side of Ma (Public Sector only, not your child's placement and the politics therein or perceived)

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  #11  
Old 10-20-2011
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October 20, 2011
The Economic Disappointment of Generation O
By Diana Furchtgott-Roth

WASHINGTON--Yet another resumé arrived in my email box this week, from a young man who graduated with a BA in economics and a minor in math last May, and has yet to find a job. He's a graduate of York College of Pennsylvania, with summer job experience as an engineering technician at the Patuxent River Naval Air Station in Maryland.

Unable to find a job in an economy with persistently high unemployment because of weak job growth, Anthony Lewis is now looking for an unpaid internship. As a new entrant to the labor force he doesn't get unemployment insurance. He's just looking for a job.

Anthony is not alone. The unemployment rate in 2010 for newly graduated men and women with bachelor degrees was 9.2 percent, far higher than the 5.1 percent rate such adults experienced in 2005.

This is Generation O: the age cohort that contributed, registered, volunteered and voted for Barack Obama with greater intensity than we have seen since at least the 1960 presidential election. Since then, the effect of President Obama's failed economic policies has fallen most disproportionately on them.

The unemployment rates among Generation O not only suggest personal disappointment, but also large and lasting implications for them and for society.

A paper forthcoming in the American Economic Journal Applied Economics found that graduating in a recession leads to earnings losses that last for 10 years after graduation.

The authors, University of Toronto economics professor Philip Oreopoulos, Columbia University professor Till von Wachter, and economist Andrew Heisz of Statistics Canada, found that earnings losses are greater for new entrants to the labor force than for existing workers, who might see smaller raises, but who have jobs. In addition, recessions lead workers to accept employment in small firms that pay lower salaries.

That, in turn, may help to explain why there is in our country a creeping fear of downward mobility, a prospect that Generation O will not do as well as their parents.

Young male graduates have been particularly adversely affected, with an unemployment rate of 11 percent, compared to 7.9 percent for women. Five years ago male graduates had an unemployment rate of 5.8 percent, and the rate for females was 4.5 percent.

This divergence in male and female unemployment rates was a product of the last decade. In 2000 young men and women graduates had similar unemployment rates.

This is puzzling because young men tend to major in science, technology, engineering, math, and business, fields that should be in demand. However, young women may be finding jobs in the service sector, particularly education and health care, which has seen steady growth during the recession.

How would Generation O fare if they remained in school, and earned a master's degree? Not that much better. The unemployment rate for MA degree holders was 7.7 percent in 2010, up from 4.6 percent in 2005.

Breaking the data into subsets tells an even starker story. White males with bachelor's degrees are commonly regarded as a privileged class, but they have not been insulated from economic trends. According to unpublished Labor Department data, their unemployment rates have more than doubled over the past five years, from 5.2 percent in 2005 to 13.1 percent in 2010. Rates for white female grads have soared, from 4.1 percent in 2005 to 12.3 in 2010.

Black male BAs have fared even worse, with unemployment rates tripling from 6.5 percent in 2005 to 24 percent in 2010. This means that nearly one quarter of the black males who made it through a four-year degree program was unemployed.

Politicians and educators tell minority students that educational attainment is the path out of poverty, but this is not persuasive if 24 percent of our black male graduates are unemployed.


As if lack of a job isn't bad enough, large increases in college tuition in recent decades mean that Generation O is graduating with a lot of debt. According to Howard Dvorkin, founder of Consolidated Credit Counseling in Fort Lauderdale, students who graduated in 2011 left school with almost $23,000 in student loans, the most ever.

Anthony told me that he owes $21,000 in student loans, and he needs to start repayments in November.

That's one reason why rates of recent graduates living at home with either a parent or grandparent have increased. In 2005 the share of 20-24 year olds who had at least a bachelor's degree but were living at home was 36 percent, and it reached 43 percent in 2011.

It used to be that if you graduated from college with a degree you were assured of a job. For many in Generation O, this is no longer true.

It's not just bad luck, or President George W. Bush's fault, as Mr. Obama tries to suggest. Mr. Obama has promoted an Old Economy model that favors big corporations, labor unions and more government. But Generation O thrives best in a New Economy model that favors nimble start-ups, hard-charging union-free workplaces and minimal government interference.

Generation O voted for Barack Obama believing him to be a new kind of leader, but he has delivered them an Old Economy with European-style mandates (think Obamacare), sclerosis, and dysfunction. They put him in the White House, Barack Obama has consigned them to their parents' house. Clearly, only one side made out well on that deal.
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  #12  
Old 10-21-2011
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October 20, 2011
The Economic Disappointment of Generation O
By Diana Furchtgott-Roth

WASHINGTON--Yet another resumé arrived in my email box this week,....deal
You may have missed this in civics class (or maybe you are too young to remember civics class) but the president does not pass legislation. There is a process to pass legislation through both chambers of the house. So I would quibble about leaving this at Obama's doorstep alone. More rightfully, everytime Obama is mentioned, it should more accuaretly be: "Obama and the do-nothing Congress." Good helping of blame still left over for previous congresses (under Bush and Clinton) as well as Bush and to a somewhat lesser extent Clinton. Though the economy did well under the latter, gutting of financial regulation was not helpful.

We my be on our way to seeing a sitution as we have in Greece, end of old political divisions with focus on the cultural dvisions that are at the root of the problem:
Quote:
Greece is split in two. On one side are politicians, bankers, tax evaders and media barons supporting the most class-driven, violent social and cultural restructuring western Europe has seen. The “other” Greece includes the overwhelming majority of the population. It was in evidence yesterday when up to 500,000 people took to the streets; the largest demonstration in living memory. The attempt to divide civil servants (ritually presented as lazy and corrupt) from private sector employees (the “tax evading” plumbers) has misfired. The only success the Papandreou government can boast is the abolition of the old right-left division – replaced by a divide between the elites and the people

http://www.guardian.co.uk/commentisf...es-clear-elite
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  #13  
Old 11-18-2011
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FIRE - The Foundation for Individual Rights in Educatiion

For three years, FIRE placed a full-page ad in U.S. News & World Report's Best Colleges issue to bring awareness to the schools that have most blatantly violated students' rights on campus. These Red Alert institutions have displayed severe and ongoing disregard for the fundamental rights of their students or faculty members and are the "worst of the worst" when it comes to liberty on campus. Students should think twice before attending these schools.

Bucknell University
Michigan State University
Colorado College
Brandeis University
Tufts University
Johns Hopkins University
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  #14  
Old 12-04-2011
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Discrimination against Asian students. How ridiculous! Out of political correctness known as "diversity", the smart kids are left by the wayside.

http://news.yahoo.com/asians-college...174442977.html
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  #15  
Old 12-10-2011
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The OWS people have to wonder why they can't get a job after graduation? Maybe this will shed some light on the reasons.

http://blog.heritage.org/2011/12/09/...-of-higher-ed/
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  #16  
Old 12-13-2011
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http://www.thecollegefix.com/post/9861

UNH Prof. Exposes Himself, Labor Union Says ‘You Can’t Fire Him’
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  #17  
Old 12-13-2011
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The OWS people have to wonder why they can't get a job after graduation? Maybe this will shed some light on the reasons.

http://blog.heritage.org/2011/12/09/...-of-higher-ed/
Yup, courses on Lady Gaga, Jay Z and Occupy Wall Street will all get you jobs in the real world! (eyeroll)

http://www.thecollegefix.com/post/9833

http://www.thecollegefix.com/post/9868

And parents are paying how much to send their kids to these schools???????????
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  #18  
Old 12-13-2011
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Yup, courses on Lady Gaga, Jay Z and Occupy Wall Street will all get you jobs in the real world! (eyeroll)

http://www.thecollegefix.com/post/9833

http://www.thecollegefix.com/post/9868

And parents are paying how much to send their kids to these schools???????????

And we wonder why???

Graduates aren’t prepared for jobs, say employers

Many employers think college graduates are increasingly unfit to be hired, according to a new study that surveyed employers in various fields. Some 30% of those surveyed expressed a belief that finding qualified graduates has become more difficult over the past few years, despite the rapidly increasing costs of higher education. From the Chronicle of Higher Education:

The group surveyed more than 1,000 employers in various industries last month about whether job applicants possess the skills to thrive in the workplace. More than half of employers said finding qualified applicants is difficult, and just under half thought students should receive specific workplace training rather than a more broad-based education.

At a news conference announcing those findings, Rep. Virginia Foxx, the North Carolina Republican who is chairwoman of the U.S. House of Representatives higher-education subcommittee, urged institutions to heed employers’ calls. “Colleges and universities are pandering to the students and giving them what they want, instead of what the employers want,” she said. “I don’t think you have to make a distinction between getting skills and getting an education. We need to do both.”





http://www.thecollegefix.com/post/9853
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  #19  
Old 12-14-2011
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http://www.thecollegefix.com/post/9861

UNH Prof. Exposes Himself, Labor Union Says ‘You Can’t Fire Him’
The linked article states that the professor was convicted of a felony, then later states he was convicted of a misdemeanor. It matters a lot because a lot of employment contracts differentiate very clearly between felony and misdemeanor offenses. The linked article muddies that water.

Please try to find credible sources.
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  #20  
Old 12-14-2011
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Quote:
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The linked article states that the professor was convicted of a felony, then later states he was convicted of a misdemeanor. It matters a lot because a lot of employment contracts differentiate very clearly between felony and misdemeanor offenses. The linked article muddies that water.

Please try to find credible sources.
This is all I need as a source: "Larkin admitted he exposed himself to a mother and her daughter in a grocery store parking lot."

You do understand why he was convicted of a misdemeanor rather than the original offense, right?

Now if the guy was black and worked at the local car wash do you think he would have been given the same benefit?
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