Fireworks fund fun, not fundamentals
Staff Editorial
Editorial Board
Issue date: 10/2/08 Section: Editorials
Saint Louis University's Homecoming celebration included a spectacular tradition: fireworks, beautiful and impressive. Their proud, booming explosions echoed for miles against city buildings and served as an excellent celebration of the Billiken's 100-year anniversary.
Unfortunately, recollection of those fireworks has been soured by current events. Following the failure of the $700 billion financial bailout plan on Sept. 29, stocks dropped by desperate degrees. The Great Depression of the 1930s has even entered into political rhetoric. Though a recession of that size is unlikely, the sickly state of the U.S. economy is at the fore of local and international discourse.
As congressional leaders stalled at the policy drawing board, students were reminded of just how close to home an economic depression could hit. If the banking world isn't bolstered by a federal bailout, credit will likely be hard to come by. That means tough luck for many students seeking college loans, small business loans and home loans in the coming years.
Students are learning to appreciate the value of the depreciated dollar.
In light of this instability, SLU's bold fireworks seem a little excessive.
True, SLU's fireworks may have nothing to do with the national economy in practical terms. The fireworks are a regular feature at Homecoming, and they do not come from student fees. (Alumni relations, which funds the spectacle, would not reveal the price.) They show that SLU is successful, stable in the face of impending turmoil. They show that SLU's celebrations won't be stopped by the broader economy's financial illness.
Given the state of student-specific interests here, however, it's hard to think of SLU's grand fireworks as anything but cash going up in flames.
How far would the fireworks fund go toward a down payment on a new residence hall, in anticipation of new housing policies and overcrowded dormitories? How many top-notch professors could it support? How much new research could it fund? How much debt could it clear? How many scholarships could it provide?
Better to take care of what needs to be taken care of first, and then add the extras.
SLU's Homecoming light-show was fantastic, but this economic climate calls for prudence.
Before we can appreciate fireworks in the sky, we need to see fireworks on campus and in the classroom.
Unfortunately, recollection of those fireworks has been soured by current events. Following the failure of the $700 billion financial bailout plan on Sept. 29, stocks dropped by desperate degrees. The Great Depression of the 1930s has even entered into political rhetoric. Though a recession of that size is unlikely, the sickly state of the U.S. economy is at the fore of local and international discourse.
As congressional leaders stalled at the policy drawing board, students were reminded of just how close to home an economic depression could hit. If the banking world isn't bolstered by a federal bailout, credit will likely be hard to come by. That means tough luck for many students seeking college loans, small business loans and home loans in the coming years.
Students are learning to appreciate the value of the depreciated dollar.
In light of this instability, SLU's bold fireworks seem a little excessive.
True, SLU's fireworks may have nothing to do with the national economy in practical terms. The fireworks are a regular feature at Homecoming, and they do not come from student fees. (Alumni relations, which funds the spectacle, would not reveal the price.) They show that SLU is successful, stable in the face of impending turmoil. They show that SLU's celebrations won't be stopped by the broader economy's financial illness.
Given the state of student-specific interests here, however, it's hard to think of SLU's grand fireworks as anything but cash going up in flames.
How far would the fireworks fund go toward a down payment on a new residence hall, in anticipation of new housing policies and overcrowded dormitories? How many top-notch professors could it support? How much new research could it fund? How much debt could it clear? How many scholarships could it provide?
Better to take care of what needs to be taken care of first, and then add the extras.
SLU's Homecoming light-show was fantastic, but this economic climate calls for prudence.
Before we can appreciate fireworks in the sky, we need to see fireworks on campus and in the classroom.
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