The Government of Barbados has had to reduce its annual allotment of $120 million plus to the University of the West Indies as a result of their economic and fiscal problems, so starting in 2014 students will be required to pay tuition fees. Read more at Nationnews.com here…
As The Nassau Guardian Editorial pointed out today:
"The problem is that in modern states people have come to believe that they have the right to every benefit under the sun. Many think they should have free healthcare, free education, unemployment benefits, pensions, etc. In previous good times when those things could be afforded, politicians kept piling on benefits and giving subsidies to appease voters and financiers."
And lets not forget how the deficts and debt were piled on during those years of plenty.
All this just confirms my point back in April this year that The Bahamas Government was correct to cut its subsidy to COB.
While the political class are willing to give today's voters at the expense of future generations, sooner or later somebody has to pay.
Like Jamaica, many decisions that should fall within the Governments purview, are now being made by external forces as a result of the politicians profligacy with other peoples money.
Sad really.
“profligacy with other peoples money”
Yep. But when “other peoples money runs out, or leaves…..
As for the external forces, being all governments or ex-governmental bureaucracies dependent on money from various peoples of the world, redistributed via their Governments largess and beneficence.
Sovereignty is a bygone concept.
Just as the Gov Gen is a toothless relic of the queen,
so are Cabinets, parliaments and Senates, relics of the People they represent.
Directed, coerced and blackmailed by Stateless entities professing wisdom and answers to questions no one asked…..
Absolutely Oracle.
In Barbados’ case however, their government spent their way into bankruptcy, and now the citizens are not ruled by those they elect.
Interesting indeed.
Your points certainly resonate where FATCA is concerned.
Thanks!
The debate is a global one …
August 23, 2013
4 Key Ideas in Obama’s Plan to Control College Costs Bear Familiar Fingerprints
http://chronicle.com/article/4-Key-Ideas-in-Obamas-Plan/141239/
I was standing in line in the bank so got to watch a some of Mr. Obama’s speech on Thursday and I immediately thought lists of these things are already available. Second it won’t happen until he leaves office (2018?) and it includes price controls? And we know what price controls do, don’t we?
Finally, seems the additional subsidies don’t amount to much considering all the subsidies that happen today, that he doesn’t propose removing.
Like all speeches by politicians, the devil is in the details.
This quick podcast might help: http://www.cato.org/multimedia/daily-podcast/obamas-designs-higher-ed
Free education is worth exactly what it costs, nothing.. The entrapped taxpayer pays the cost and the students learn very little.. Money is just wasted, taxpayers are disgruntled and most students and faculty don’t seem to care.. This is a government lose, lose, lose situation..
Subsidies in education, like elsewhere, has been a failure.. Just look at the United States and Britain to see the evidence.. There was an old saying years ago in Britain, “The Brits love their “free services” but they hate to pay for them”.. Now that they must pay for many of these formerly “free services”, they more than likely now hate them.. Collective governments, to maintain power and public control, are always offering free things to the people until they run out of money.. When the money runs out, the government gravy train comes to a sudden halt.. So goes Barbados.. Could the Bahamas be next in line?? You be the judge..