Technician
september
9
2011
Raleigh, North Carolina
technicianonline.com
Obama jobs plan deemed not enough The bill, if passed, would not positively affect unemployment, according to economist. John Wall News Editor
Obama promised further job creation and hoped for bipartisan participation as he addressed a joint session of Congress and the nation. In his usual rhetorical style, he found a phrase to repeat Thursday night. “Pass this jobs bill,” he said over and over referring to the American Jobs Act — the idea for which came from a Texas Republican and a Massachusetts Democrat. The bill is nothing more than a drop in the bucket, though, according to Michael Walden, William Neal Reynolds distinguished professor & extension economist. If the bill passes, unemployment insurance will be extended for another year. “[The proposed program] will not solve the unemployment problem,” Walden said. The biggest problem facing the American economy housing, and although the bill addresses the problem of fallen home prices and underwater loans, it did little, Walden said. A mortgage is underwater when the home is worth less than the amount owed on the mortgage. Many homeowners since the bursting of the housing bubble chose strategic default — they walked away from their mortgages and their homes despite financial consequences and creditworthiness effects. Amidst heavy congressional infight-
friday
Amid cuts, CHASS adds staffers Nine new members join the humanities and social sciences. Jatin Bhatia Staff Writer
housing agencies to help more people refinance their mortgages at interest rates that are now near 4 percent — a step that can put more than $2,000 a year in a family’s pocket, and give a lift to an economy still burdened by the drop in housing prices,” Obama said in his speech. Walden suggested an alternative Obama did not mention. “If there were something that I would liked to have seen that would have been very dramatic,” Walden said, “I don’t think Obama tapped into the resources, but some economists have talked a public partnership
The College of Humanities and Social Sciences added nine new professors to it faculty. All of them come from highly reputed universities such as the University of California at Berkeley, University of California at Los Angeles, University of Tennessee, New York University, Yale University and others. They were warmly welcomed by N.C. State, and especially by CHASS. The college organized a welcome reception for the new faculty on Wednesday at Caldwell lounge. “We are delighted to welcome these new faculty members,” Lauren Kirkpatrick, director of CHASS communication, said. Antony Harrison, distinguished professor and head of the department of English also commented on the occasion. “We hired one new TT faculty and one NTT faculty member who have begun teaching this semester;
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Contributed by The White House
Obama speaks before a joint session of Congress Thursday night. He introduced a jobs bill meant to increase employment through capital improvements and other pubic spending.
ing, federal legislators reached an agreement in July to “cut government spending by about $1 trillion over the next ten years,” according to Obama’s speech. The agreement also called for $1.5 trillion more in cuts to be passed by Christmas. As he said in his speech, Obama wants to use all of those funds to pay for the proposed jobs bill. He is also releasing a “more ambitious debt plan” Sept. 19. With all of the cuts, “[the jobs bill] will be paid for,” Obama said. According to a fact sheet sent out by the White House press service, the bill would cost a total of $447 billion. The reason why Obama wanted to go with a “more ambitious” spending cut plan
could not be readily determined, but the idea would appease republicans. However, Americans lost $8 trillion when the housing bubble popped, according to Walden. “Homeowners have lost $8 trillion collectively; that’s trillion with a T,” Walden said. Obama addressed the problem of lost value — allow homeowners to refinance their mortgages. Rates are historically low. The actions of the Federal Reserve, as well fiscal efforts by the federal government since 200708 have propped up the economy and kept rates on all credit low. “And to help responsible homeowners, we’re going to work with Federal
SARA ROBERTSON/TECHNICIAN archive photo
Brittany Farrell, a junior in political science and economics, walks around the flags placed in the Brickyard in 2006 for the fifth anniversary. Farrell remembers the chaotic atmosphere Sept. 11 had on her school when they received news of the events in New York and Washington, D.C. “I went to a Catholic school and the principal came over the P.A. and asked the school to say the prayer of the dead for all those who died today, but he didn’t say why. I was walking through the halls hearing ‘terrorist’ and ‘air planes’ and ‘buildings falling’ and was having to piece it all together.”
Memorial set to honor fallen Wolfpack Bell tower event on sunday one of many around campus. N.C. State will hold a ceremony Sunday to honor first responders and 9/11 victims. Brooke Wallig Senior Staff Writer
N.C. State will hold a ceremony Sunday, Sept. 11 to pay tribute to first responders and members of the military who are currently serving or have died in the line of duty. The service, according to Kathy Hart, associate executive director of marketing and communications for the University’s alumni affairs, will begin at the Bell Tower a little before 2 p.m. and will feature many alumni speakers. Hart also said the service will pay respect to the loss of NCSU alumnus
Lt. Cmdr. Eric Cranford (‘92) who was killed at the Pentagon on 9/11 while working for the Naval Command Center. Cranford’s family will attend the ceremony and perform a wreathlaying memorial to honor his memory. Gabriel Harden, junior in computer science and public affairs officer for the University’s Air Force ROTC, said while this is not expected to be a long memorial—about 30 minutes—many preparations have been made to sufficiently honor first responders and their families. “Three ROTC units—Army, Air Force and Navy—are going to meet at the ceremony at the Bell Tower to start the event to honor the dead of Sept. 11,” Harden said. “The end of the ceremony is going to be signaled by the simultaneous laying of a wreath on the Bell Tower, firing of a 21-gun
salute, a bugler playing taps—a mili- the back of your mind. It was ten years tary song honoring the dead dating ago, but I can remember how I felt on back to the Civil War—followed by a the day it happened,” Harden said. flyover by two F-15s coming from Sey- “It was a bad day, a bad month, and a bad year, but that mour Johnson event did unify Air Force Base.” our country.” Harden said he For Hart, the what he wants memorial service people to take demonstrates the away from the unity of the Pack memorial service community, even is a desire to keep though a decade those people who has passed since lost their lives in Benny Suggs, N.C. State Alumni the attacks on the attacks and Association director Sept. 11. a f ter wa rd s i n “I’m so happy their memories. we’re able to take “Just don’t forget. We had a lot of Americans, a lot of a moment here at N.C. State to reflect really good people, die that day. Don’t and grieve together as a nation on forget them, and keep them in your that day, because I’m sure we could prayers, at least on that day. Keep in all remember that day very clearly,”
“This event is going to be one of tremendous respect and gratitude...”
Hart said. Benny Suggs, director of the N.C. State Alumni Association and former United States Navy flag officer and pilot, is slated to speak at the ceremony. She said the service is meant to honor all members of the Pack community who have devoted their lives to the protection of others. “The way I feel is this great University is providing so many people with so many opportunities for so long, and this is an appropriate memorial. It is fitting to use this special day Sunday to honor those who perished on 9/11—all those folks who have served so honorably and so well and have paid such a price, including their families, since 9/11,” Suggs said. “We’re using this to not only recognize
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