-- Connecting the dots between our economy, government and business --
The impact, nationwide could be $4 billion in cuts, he said, adding that the University of Illinois system alone would lose roughly $67 million annually. Universities cannot function without cutting-edge labs, high-speed data and effective support staff, Raoul said. What's more, "it is simply illegal." He said that in 2017, Congress specifically rejected the idea of cuts to indirect costs and that every appropriations bill since has blocked HHS and NIH to use appropriated funds from altering indirect cuts.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Kwame must be getting tired, doing all this meaningless work. How long before he goes on disability from all the paper cuts?
The so called “indirect costs” look like a lot of bill padding via including assorted day to day costs that would be incurred anyway by the institutions amounting to just another slush fund for the education system.
Byron York had an interesting article about this in the Washington Examiner. It seems that most private foundations cap indirect reimbursement rates on grants, and some refuse to pay for indirect costs at all. The Bill and Melinda Gates Foundation caps at 15%, as does the Zuckerberg Foundation. Trump is putting NIH in line with other research grants.
Northwestern and the left scream because they can no longer ding the taxpayers at 4 times the rate that they get from St Bill.
https://www.washingtonexaminer.com/opinion/columnists/3315099/after-nih-move-doge-hysteria-spreads/