IL fiscal crisis (Milwaukee: rent, school, income)

[WINH]

UW had 750 million just sitting around which nobody knew of and UW Oshkosh tried some creative investing only to lose their proverbial butt and I don't see any lack of new buildings going up at UW Madison quite the contrary they seem to have more than enough money to go around. Its all how you use it. Illinois is a train wreck as is California and New York which are losing population pretty much more than anybody. They are killing people with taxes. I bought a dozen doughnuts while staying with friends in Illinois 25 miles from Chicago but still in Cook County and paid 10.5% in sales tax. Imagine if I had bought a car there.

[DougStark]

^^^^ Great information. I went to UW a few yrs, and unfort some of my relatives live in the sinking ship called IL/ Chicagoland.

[DougStark]

This has been a fun, informstive post.

Thanks, everyone.

[Empidonax]

Originally Posted by brrabbit

And I've read that Walker is killing universities here in WI.

UWM has been recruiting students from Illinois, other states, and abroad because they pay out-of-state tuition, and that money helps a bit to make up for funds lost due to budget cuts and the in-state tuition freeze.

[Empidonax]

Originally Posted by WINH

UW had 750 million just sitting around which nobody knew of and UW Oshkosh tried some creative investing only to lose their proverbial butt and I don't see any lack of new buildings going up at UW Madison quite the contrary they seem to have more than enough money to go around. Its all how you use it. Illinois is a train wreck as is California and New York which are losing population pretty much more than anybody. They are killing people with taxes. I bought a dozen doughnuts while staying with friends in Illinois 25 miles from Chicago but still in Cook County and paid 10.5% in sales tax. Imagine if I had bought a car there.

Madison does have money--they've been tapping private networks and alumni sources, and have been very successful.

The 750 million "just sitting around" was in fact mostly earmarked for specific projects. Funny how that message didn't get through.

[damba]

Originally Posted by brrabbit

And I've read that Walker is killing universities here in WI.

Hardly a joke.

His (and others) disdain for people working in academia is noteworthy. Some of the structural/hiring/salary practices have made the UW-Madison (and system) a lot less attractive for the pipeline of candidates from the east coast (and elsewhere). Very sad.

[timberline742]

Originally Posted by WINH

UW had 750 million just sitting around which nobody knew of and UW Oshkosh tried some creative investing only to lose their proverbial butt and I don't see any lack of new buildings going up at UW Madison quite the contrary they seem to have more than enough money to go around. Its all how you use it. Illinois is a train wreck as is California and New York which are losing population pretty much more than anybody. They are killing people with taxes. I bought a dozen doughnuts while staying with friends in Illinois 25 miles from Chicago but still in Cook County and paid 10.5% in sales tax. Imagine if I had bought a car there.

No, not it isn't.
Universities can't spend money at their discretion.
Most of the money is tied up in endowments with strict gift terms.
Lots of times they have the money, and it can't even be spent so the money and the interest generated from it can't be spent at all because the gift terms are so restrictive.


And NY and CA are still two of the most desirable places to live. No lack of number of people trying to get there. The people leaving are those that can't compete and afford it, but they're being replaced by people who can.

[InnovativeAmerican]

What WI republicans fail to fathom is that Milwaukee and Madison nearly subsidize the rest of the state, just like how the TC subsidize MN and Chicagoland subsidizes IL.

[timberline742]

Originally Posted by InnovativeAmerican

What WI republicans fail to fathom is that Milwaukee and Madison nearly subsidize the rest of the state, just like how the TC subsidize MN and Chicagoland subsidize IL.

Yeah, that's all over. The "liberal" cities economically support the more conservative suburban and rural areas, and the "liberal" states, like Massachusetts, economically support places like Alabama. It's been that was for ages, but instead of being thankful for the support, they just rail about what horrible places they are. Well, you're survival depends on those horrible places.

[damba]

Originally Posted by InnovativeAmerican

What WI republicans fail to fathom is that Milwaukee and Madison nearly subsidize the rest of the state, just like how the TC subsidize MN and Chicagoland subsidize IL.

Yep.


Some background reading for folks unfamiliar with the situation in WI-


https://slate.com/news-and-politics/...-happened.html