One State's Approach To Solvency - Raid The Colleges' Endowments

MayorBob.

Posted to Politics on Sun May 11, 2008 at 08:09:40 AM EST (promoted by port1080). RSS.

In these troubled economic times it's not really news to hear about state governments experiencing financial woes due to looming budget deficits. They can blame Washington all they want but, realistically they can't look in that direction for any relief from decreased state revenues and soaring expenses. They can cut state services, but many will argue the fat has been trimmed and what remains is muscle and sinew. Thus, states are left with the unpalatable prospect of raising taxes or finding new sources of revenue. Massachusetts thinks it has come upon a viable new source of revenue - a raid on private schools' endowments.

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