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Michael van der Galien

Shocker: Stimulus Cost ‘Makes Our Problems Worse’

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Posted on July 6 2010 9:30 am
Michael van der Galien was born in the Dutch city of Leeuwarden in 1984. For as long as he can remember, he has been obsessed with the United States. When he was 17 years old, he started blogging - of course about America. His articles have been published at Big Hollywood, Pajamas Media, Hot Air (the GreenRoom) and Right Across The Atlantic. He's also an editor for the Dutch conservative blog, De Dagelijkse Standaard.
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Fox News has a shocking report today:

The $18.2 billion marked out in last year’s federal stimulus package for research and development was hailed as a boon for universities, but many that received funds are finding their share of the costs burdensome.

The conundrum is apparent at the University of California. ..

But the stimulus grants have also required the UC to spend about $69 million that wasn’t reimbursed by federal agencies to support the new research projects. That helped push the UC’s total unreimbursed research-related costs to an estimated $800 million in the fiscal year ended June 30, up around 11%from $720 million a year earlier, university officials said. This came as the public university system grappled with a $1 billion budget shortfall amid reductions in state funding.

Steve Beckwith, UC’s vice president for research and graduate studies, says that “this [stimulus funding for research] is not money that in any way makes up for the loss of state funds. It actually makes our financial problems worse.”

And so it has been proved – for the umptienth time in history – that large scale stimulus plans and more government involvement cause more problems than they solve. Who would’ve thunk it?

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