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If you think brand name = quality education, then the problem lies elsewhere. Besides, if the point of the 'quality' education isn't to become prosperous and get well-paying jobs, what is the point?
Nope, don't think "brand name = equality education". The schools I mentioned all have good names because they provide excellent educations on multiple levels.
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Originally Posted by stan4
Unless every single person coming out of MIT has a better paying job than I do, your MIT is better than UT Austin argument just falls flat. Sorry.
Umm....you serious? I suppose Bill Gates could employ the same illogic:
Unless every person coming out of UT Austin makes more money than me than UT Austin is no better than dropping out of school.
So graduating from UT Austin is no better than dropping out of college, who knew!
Of course, what you really need to compare is average and median salaries of those graduating from the respective universities. Let's look at payscale:
Either way, I'd have much more confidence in TX than CA or NY in resolving the budgetary issues with necessary spending cuts.
And why is that? TX does not have that much to cut.
Its going to be very hard for TX not to raise taxes if it wants to maintain even minimal social services.
Also, the recession hit Texas later and that is why its budget problems are popping up later.
Anyhow, partisans love to imply that California's current problems are the result of its blueness yet they conveniently ignore that Nevada, Florida and Arizona are having the same issues.
Anyhow, partisans love to imply that California's current problems are the result of its blueness yet they conveniently ignore that Nevada, Florida and Arizona are having the same issues.
Everyone is having these problems, but California's are on a different level. California never saved for a rainy day and instead elected to explode the size of government during the boom, much more so than these other states you mention.
It's no wonder that they have the junkiest credit rating in the country (surpassing even Louisiana) This simply increases the cost of credit for CA and further exacerbates their budgetary nightmare. Greece is dealing with something similar.
Everyone is having these problems, but California's are on a different level. California never saved for a rainy day ...
California's situation is somewhat unique, but its not worse than some other states that differ politically. Arizona's budgets are worse and unlike California it does not have a strong economic base to tax.
Its not obvious that "saving for a rainy day" is a good thing to do on the state level. States can always run deficits during recessions and money in the "rainy day fund" is really just burning a hole in the state's pocket. It will generate the most returns by deploying it in your local economy either in terms of infrastructure spending or tax cuts.
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Originally Posted by chopchop0
Greece is dealing with something similar.
Not even close actually. California bonds yield around 2~2.5% more than treasuries, Greece's bonds yield around 7% more than treasuries. California bonds are rated A- where as Greek bonds are rated as junk.
Funny, in your desire to just smack talk California you did not even bother to actually read the article. He is not saying the situation in California is worse in general, rather that a default in California would be worse for JP Morgan than a default in Greece.
But all of this is at best indirectly related to business environments. Again, the fact that some of the state's largest and most innovative economies ranked last demonstrates that these rankings are useless and obviously biased toward some particular goal (i.e., corporate interests).
The Texan motto: Welfare for corporations, not for people.
And why is that? TX does not have that much to cut.
Its going to be very hard for TX not to raise taxes if it wants to maintain even minimal social services.
Also, the recession hit Texas later and that is why its budget problems are popping up later.
Anyhow, partisans love to imply that California's current problems are the result of its blueness yet they conveniently ignore that Nevada, Florida and Arizona are having the same issues.
Texas is the best state for business, the rest is not important.Texas is recession-proof, its economy is the future of the US.
Don't be so blind, everybody know California is almost a bankrupted state.
Texas economy is fine, and its future is bright.
Texas won't raise taxes because it's stupid, thank you Rick Perry
Your screen name also reminded me of another state where the rich are gonna get a dose of their own medicine in 30 years. Massachusetts. People are getting priced out of that state like it's going out of style. You'll get left with a bunch of Brazilian immigrants running the place 'cause all the native's children can't afford the place...
Well in MA we have already had the problem of our educated leaving because of overall cost. You will see many here now that were born and raised in New England, get there education and then move to other states for jobs. They can make the same money in Texas or the Carolinas and pay less for rent and many services. They get a nicer house at less cost and lower overall fees and taxes.
The states that most of people from MA were moving to were Florida, Texas, and New Hampshire, with the Carolinas not too far behind. Well, all of those states have no state income tax. Florida is nothing special because it pretty much is a lot of northerners there anyway. But Texas is quite the move. A lot of companies have left this state, it just isn't a business friendly state. I have many friends and relatives (and friends of friends) who have taken jobs in SC, GA, TX, NC, VA, and FL. Most of are happy in their new place and don't really care to come back to MA.
Just as importantly as much as many in MA rave about the education I've heard from teachers who taught in NC and in MA that MA isn't really any better...I lot of the MA education is better is hype. I've always found if you live in a fairly good community with the parents involved usually the schools are very good, and it doesn't matter what state your in.
Its not obvious that "saving for a rainy day" is a good thing to do on the state level. States can always run deficits during recessions and money in the "rainy day fund" is really just burning a hole in the state's pocket. It will generate the most returns by deploying it in your local economy either in terms of infrastructure spending or tax cuts.
It's great to have that money when you are state like CA, which has had to deal with budgetary issues before, particularly when the biggest chunk of its revenue comes from highly volatile personal income taxes. CA also has huge unfunded pension liabilities. CALPERS is a mess.
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Not even close actually. California bonds yield around 2~2.5% more than treasuries, Greece's bonds yield around 7% more than treasuries. California bonds are rated A- where as Greek bonds are rated as junk.
It's obviously enough of an issue for the two entities to be compared in this (and many other) articles. If there is a "sovereign" default in this county, california will lead the way. It is the canary in the coal mine.
Do you think TX has a higher default risk?
Quote:
Funny, in your desire to just smack talk California you did not even bother to actually read the article. He is not saying the situation in California is worse in general, rather that a default in California would be worse for JP Morgan than a default in Greece.
see above.
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The Texan motto: Welfare for corporations, not for people.
You can simply reverse that statement to get California's motto (and substitute "illegal immigrant" for "people"). Somebody has to pay for that welfare state, and I can tell you that it isn't going to be a six-figure corrections officer or an immigrant picking strawberries in the field
Texas won't raise taxes because it's stupid, thank you Rick Perry
Then is it just going to keep growing its deficit? Texas will have to increase revenue the most likely way that is going to occur is with a tax increase.
Texas and California suffer from the opposite problems, California can't really raise taxes any more because they are too high already where as Texas can't cut spending much because its already minimal. There is a happy middle in between these two extremes...
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) This simply increases the cost of credit for CA and further exacerbates their budgetary nightmare. Greece is dealing with something similar. 
