State can no longer leave colleges in 'crisis mode' :: CHICAGO SUN-TIMES :: Commentary: "Here are some of the numbers: The state is in arrears $445 million to the University of Illinois system, $125 million to Southern Illinois University, $37 million to Northern Illinois University and $28 million to Western Illinois University. The state's other universities are in similar straits.
As a short-term solution, the universities have imposed hiring freezes, used up reserves and delayed paying vendors. They are considering furloughs and layoffs. At WIU, President Al Goldfarb said the school has even postponed repairing an elevator in the university's library to help save enough money to meet the payroll.
'All of the state's universities are in crisis mode right now,' said SIU President Glenn Poshard."
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I keep hearing all this Obama/Democratic Party rhetoric about how the recession is over and the recovery is under way. This is just one example of many institutions in this society that are in an untenable position. It isn't a temporary thing. It is a structural thing. And the same can be said of many, many cities and counties and even states.
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The state of the economy cannot be described by its leading or lagging indicators alone, just as climate change cannot be discerned merely by studying recent weather patterns.
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