Overview: Are We Better Off Today?
Personal Income - U.S. Federal Government
Food - State and Local Government - Health Care College - Transportation - Household Expenses
The Money Supply - Average Temperatures
Imports and Exports
Tuition Treachery (See Update Below)?
In July 2008, we compared the college tuition costs for several universities between 1960 and 2007. They all showed huge increases in CPI adjusted tuition. In an attempt to understand the reason for the huge tuition increases, we were able to inspect the budgets for the University of Texas for both the 1960 and for 2008. To try to provide the most equal comparison, the values were adjusted to per student values. The enrollment for UT was listed as 18,000 in 1960 and UT's most recent enrollment figure is 49,697. It was very difficult to equalize the categories but every effort was made to make fair comparisons. The author welcomes a more detailed analysis by anyone with more resources.
1960 Budget Summary - 2008 Budget Summary
2009 UT Tuition Costs - UT Grant Programs
Full-Time:Tuition 1960 1960Today 2008
Resident $100 $ 690 $7,630
Compensation 1960 1960Today 2008
President of UT $17.5K $121.6K $676.9K
Income (per student) 1960 1960Today 2008
Tuition Income $ 169 $1,164 $ 2,643
Tuition Aid $ 0 $ 0 $ 460
Student Fees $ 21 $ 149 $ 6
State of Texas $ 673 $4,674 $ 6,487
University Fund $ 165 $1,150 $ 2,890
Total Income $1,059 $7,360 $13,343
Expenses (per student) 1960 1960Today 2008
Teaching Salaries $ 456 $3,170 $ 5,203
Teaching Op. Exp. $ 138 $ 957 $ 1,291
Library $ 61 $ 423 $ 264
Facility Operation$ 146 $1,014 $ 768
Research $ 117 $ 814 $ 1,068
Scholarships $ 7 $ 48 $ 972
Staff Benefits $ 0 $ 0 $ 2,418
Adm. Overhead $ 75 $ 524 $ 3,781
Total Expenses $1,058 $7,355 $13,403
The analysis shows that the expenses for the University of Texas have gone up roughly twice the rate of inflation but not nearly at the rate of change in the published tuition rates. It is to UT's credit that they appear to have reduced expenses for operating the campus buildings and grounds. It appears that teaching expenses have gone up but not nearly as fast as the administrative overhead expenses.
What is very troubling is the mismatch between the published tuition rate and what is actually shown to be collected either directly or through state financial aid. In reviewing the grants shown in the financial aid web page, it shows that they offer tuition-funded University Tuition (UT) Grants and also offer Tuition Credits. I was not able to find in the budget any information on the UT Grants or the Tuition Credits but it appears that if someone is paying full tuition, they are not only covering the tuition for themselves but also at least one other student.
Although this is an analysis of just one university, it has been reported that other universities also play games with the tuition where the universities decide how much of their overly-inflated tuition a family can afford and then "give" financial aid to make up the difference. It is a system ripe for favoritism and fraud. It has no place in public universities.
UT Tuition Update
In the 2009 Texas legislative session, SB1304 was passed and signed into law. It requires all state universities starting in January 2010 to disclose on their tuition bills, how much of the tuition is being used to fund other students tuition. Texas law still mandates that the universities divert at least 20% of undergraduate tuition to fund tuition grants and loans.
Family Perspective Archive:
U.S. Trade Deficit - Energy Independence
Fannie Mae and Freddie Mac Mess
The Cost of Campaigns - Professional Sports Cost
Mars, The Cost of Curiosity - The Federal Reserve ATM
The Pork and Bailout Bill - State Spending
Campaign Costs and Donors - Federal Budget Red Tide
Economic Stimulus Bill - Budget Deficits Red Tide 2
Social Security Projections
Medicare/Medicaid Is Bleeding Us Dry
President Obama recently presented his proposed budget (2010) that included multi-year projections for revenue and outlays for the Medicare and Medicaid programs under current law per the economic assumptions by the Obama administration.
Medicare Taxes Total Bil Per Family
2007-2008 (Last year) $ 194 $ 1,704
2009(Current budget) $ 191 $ 1,677
2010(Proposed) $ 196 $ 1,721
2011(Proposed) $ 210 $ 1,844
2012(Proposed) $ 222 $ 1,949
2013(Proposed) $ 235 $ 2,064
2014(Proposed) $ 247 $ 2,169
Medicare Benefits Total Bil Per Family
2007-2008 (Last year) $ 386 $ 3,390
2009(Current Budget) $ 425 $ 3,732
2010(Proposed) $ 453 $ 3,978
2011(Proposed) $ 498 $ 4,373
2012(Proposed) $ 501 $ 4,399
2013(Proposed) $ 556 $ 4,882
2014(Proposed) $ 605 $ 5,313
Medicaid Benefits Total Bil Per Family
2007-2008 (Last year) $ 201 $ 1,765
2009(Current Budget) $ 259 $ 2,274
2010(Proposed) $ 290 $ 2,547
2011(Proposed) $ 274 $ 2,406
2012(Proposed) $ 280 $ 2,459
2013(Proposed) $ 299 $ 2,626
2014(Proposed) $ 322 $ 2,828
Medicare/Medicaid Deficit Total Bil Per Family
Outlays - Receipts
2007-2008 (Last year) $ 386 $ 3,451
2009(Current Budget) $ 493 $ 4,329
2010(Proposed) $ 547 $ 4,803
2011(Proposed) $ 562 $ 4,935
2012(Proposed) $ 559 $ 4,909
2013(Proposed) $ 620 $ 5,444
2014(Proposed) $ 680 $ 5,971
The budget shows that the Medicare tax has not come even close to covering the Medicare benefits for even the current year and it only gets worse as the Baby-Boomers are scheduled to retire. If you include the Medicare program, the current year's funding deficit is over $4,000 per average household and only gets worse in the coming years. This funding deficit, starting in 2012 and forward is approximately equal to the total projected Federal Budget deficit.
Both sides of an issue presented in an un-biased bullet (PowerPoint) format that allows you to quickly get both sides of a controversial subject.
Public Policy Shootouts:Energy Shootouts:Links to Other Pro-Con Sites:www.BalancePolitics.org
I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts.