Daily Archives: June 15, 2011

Bernanke Calls For End To Debt Ceiling Freeze

Chairman of the Federal Reserve Ben Bernanke appealed to Congress on Tuesday to end the current freeze of the debt ceiling. Bernanke explained his position:

“I fully understand the desire to use the debt limit deadline to force some necessary and difficult fiscal policy adjustments, but the debt limit is the wrong tool for that important job.”

The debt ceiling, one of many hotly contested points between Republicans and President Obama, is one that does not have an answer that will appeal to everybody in the short-term. While a new culture of fiscal responsibility will have to be installed across the board at some point, it seems that, according to Bernanke–ostensibly one of of the top, if not the top, authorities on the economy–blocking an increase in the debt ceiling would be cutting off the economy’s nose to spite its face. According to Bernanke, the Republican-backed freeze, if it holds, would have dire consequences. For instance, the United States might not be able to continue to make certain payments for things like Social Security and military expenditures. Additionally, Bernanke’s cites a negative effect on American “creditworthiness” and American markets as reasons to dispense with the current games being played in Congress.

At the same time, Bernanke was adamant that the deficit would have to be wrangled into control by virtue of a specific, detailed, long-term plan, with the final point being perhaps the most important. According to many, large cuts in the near future could adversely affect the economy, which is fragile at best at the moment and is also preparing to deal with the fact that the last stimulus dollars will be coming through the pipeline this June.

 

Contains information from CNNMoney.

Questions of Race In College Admissions

In a time of a struggling job market and rising tuition rates, it is becoming more and more difficult for some Americans to get to college. On the other hand, there’s more to getting into college than having the money to pay outrageous tuition fees (especially if you plan on attending school outside of your home state). One factor that has been around for years, at one point in time far from a priority–even a disincentive at some schools, like Rice University in Texas–but was eventually made one by virtue of affirmative action and the growing prioritization of diversity is, but of course, race.

Many teenagers these days, desperate to get into the college of their choice, have taken certain liberties with their racial identity. For instance, Natasha Scott, a high school senior boasting a “mixed” racial composition (i.e., an Asian mother and an African-American father), sought advice from College Confidential, an internet forum for discussion about anything relating to college admissions, about what to mark under the category for race. Much to her chagrin, most indicated that putting down African-American realistically gave her a better shot at matriculating to the school of her choice. She voices this internal struggle, explaining that the whole process of applying to college with what can almost be considered the “burden” of mixed heritage (i.e., vis-a-vis the ultimate decision involved in checking a race or races on an application, and the implications of those decisions) is a difficult one:

 

“I just realized that my race is something I have to think about,” she wrote, describing herself as having an Asian mother and a black father. “It pains me to say this, but putting down black might help my admissions chances and putting down Asian might hurt it.”

 

Scott also added:

“I think that when you’re a stressed out high school senior, you’ll do anything that’s legal to get into college,” said Ms. Scott, 16, who will be attending the University of Virginia. “I must admit that I felt a little guilty only putting black because I was purposely denying a part of myself in order to look like a more appealing college candidate.”

This is a painful reality for many who treasure all parts of their heritage, yet understand the strategy of checking a certain box over another on a college application, a decision so small and subtle yet potentially life-changing. For some, making such a choice represents a compromising of one’s very identity for the sake of getting into a school. Getting into college is important, especially today when it is commonly understood that a Bachelor’s degree today is essentially the equivalent of what a high school diploma was 20-30 years ago in the professional world.

Of course, some people have taken advantage of the general push for diversity in the world of academia by clinging to tenuous strands of a family tree in order to appeal to admissions officers. Colleges have gradually offered a wider variety of boxes to check for prospective students, leading to some fairly “creative” affiliations of racial identity. The population of “mixed” students and applicants continues to rise as a result of the increase in choices, but the definition of “mixed” remains vague and generally undefined. Some of the commenters on College Confidential indicate that one should check the box that gives them the best chance to be admitted, while others say to go with how one feels and what race one truly identifies with most. It is difficult to say which is the “correct” modus operandi because students have assuredly gotten into schools of their choice utilizing each strategy. However, a problem still remains for schools; while they have good intentions and the moral imperative of diversity in mind, any idea can be taken advantage of. In fact, at least four applicants to Rice this past spring supposedly checked almost every box. This obviously represents the most extreme of situations, but where do admissions officers draw the line? Can they draw one at all without being accused of ignoring a valid part of a student’s identity?

 

Contains information from The New York Times.