When the average college student turns on their television, it isn’t to watch news about the economy.Let’s face it, we’d all rather get wrapped up in “Lost” than watch an economics expert rant about the end of the financial world.But it’s about time we started paying attention.Recently, the once-abstract gloom and doom, lamented by the major news networks, has been driven painfully home for the LSU campus, in the form of massive budget cuts. The Daily Reveille reported earlier this month the LSU System would suffer as much as $71 million in cuts from the state in the coming fiscal year, for about a 31.6 percent decrease. For now, the budget cuts are not causing any major headaches.The Associated Press analysis piece “Louisiana budget cuts reveal little pain” explains most other state programs are using surpluses left from the prosperity the state experienced the last few years, and thus will “escape with little in the way of cuts that regular folks might notice.”When drawing on funds set aside in better times isn’t enough, most departments are simply postponing future projects that had been in the works, including renovations or technological innovations.I hope nobody wants to walk in the backdoor of the Student Union anytime soon.The good news is that, for the most part, there will be no major cuts to services provided by the state — for now.The unfortunate, unavoidable truth is, if things don’t improve, this situation will deteriorate.The measures used to trim the budget are, by their very nature, temporary ones. The state can only use its rainy-day funds once. It can also only cancel prospective projects once.Unfortunately, there are no concrete signs the economy will recover in time for these temporary measures to be sufficient. Unless the economy miraculously recovers overnight, it seems impossible for the state to continue without cutting services.We’re already seeing examples of decreases. Despite drawing upon the $72 million fortuitously set aside in a surplus, the state health care system — which is being forced to cut even more than the higher education system — is still having to find ways to slim down. Those on Louisiana Medicare are now only covered for five prescriptions a month instead of the usual eight.To most college students, nothing of value has been lost yet. Relatively few college students have student jobs, and few are likely to rely on Medicare.But you still have a stake in this.It can be difficult to care when the media says the economy is suffering. It can be difficult to care when a student columnist tells you the Louisiana higher education budget is being slashed by $109 million. But if things don’t improve, things are going to get worse, and every Louisianian is going to feel the pinch. Soon the University will have to start making cuts in the number and variety of classes, and reducing the funds being put into support services.And let’s not forget the real world outside is the one we’re going to have to find jobs in.So as boring and depressing as it is, pay attention to the economy. It may not be a football game, but it definitely will start affecting students in ways that no sport ever will, even if you’re putting money on it.Like it or not, you’ve got money on the economy — and right now the odds aren’t looking good.
Nietzsche is Dead: Even students have large stake in today’s economy
January 25, 2009