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Alex Vaughn
echnician is hosting a mock election Tuesday, in which students should go to www.technicianonline.com and cast votes for the candidates of their choice. Students only need their Unity IDs and passwords to vote. Voting is from midnight to 10 p.m. Tuesday, and the results will provide information on how students will vote Nov. 4. The voter’s guide provided in today’s paper provides information for most candidates on the Wake County ballot within the campus’ district. The guide will also be available online. The more that students participate, the more accurate the information will be. Check www.technicianonline.com and the Wednesday and Thursday print editions for results and analysis, as well as more information about the upcoming election.
REPUBLICAN
DEMOCRAT
Staff Writer
University assets are suffering under current economic conditions, but steep drops in the stock market are not affecting the University’s operational funds or its partnership with Wachovia, Kathy Hart, associate vice chancellor for finance and business, said. While long-term assets are subject to market volatility, Hart said they are unrelated to the funds the University uses to carry on daily business. “The University’s operating dollars are all handled by the state treasurer of North Carolina, and those are of course being carefully monitored,� she said. “Those are the dollars that we pay the bills with and meet the payroll with and all of those kinds of things.� Some universities do have operational funds which may be at risk due to the current financial crisis, Hart said, but N.C. State does not. Economics professor John Lapp said shares in Wachovia, the North Carolina - based bank NCSU has a partnership with, have lost about 90 percent of their value in the past year. And even though students have the ability to use their AllCampus ID cards as Wachovia debit cards, Hart said that there have been no problems with the University or students having access to Wachovia accounts. Wachovia’s losses, Hart said, have not negatively affected the University’s investment portfolio — corporate bonds, stocks and real estate — either. “If there was any stock owned in Wachovia, it would have been very minimal in our endowment dollars, but it would not have had any significant impact,� Hart said. Endowment investments, however, are taking a hit. “Our endowment investments, which are invested for long-term opportunity, are certainly being impacted by the financial markets,� Hart said. An endowment is a donation intended for investment so it can provide returns for years to come, lessening reliance on less predictable funding sources, according to the University’s Web
LIBERTARIAN
PRESIDENT
COURTESY WWW.JOHNMCCAIN.COM
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PEGGY BOONE/ TECHNICIAN ARCHIVE PHOTO
COURTESY WWW.BOBBARR2008.COM
BARACK OBAMA
cCain has served in Congress since 1982, when he was elected to the U.S. House of Representatives from Arizona. He moved to the U.S. Senate in 1986, where he continues to serve today. McCain was a naval aviator for 22 years, and was shot down in the Vietnam war and taken as a prisoner of war. Education McCain would simplify higher education tax benefits and federal financial aid to make them easier for average families to access. Economy McCain wants to balance the national budget by the end of his first term as president. McCain pushes for a one-year spending pause, which would block non-defense, non-veterans discretionary spending for a year. He would also veto bills with earmarks. Energy McCain supports expanding domestic oil exploration, ending the federal moratorium on off-shore drilling. He would put $2 billion a year to advance clean coal technologies. McCain wants to construct 45 new nuclear plants by 2030 with an eventual 100 new plants. He would provide initiatives for the production of plug-in hybrid technology, and issue tax credits for consumers who buy zero carbon-emission cars. Iraq It is essential for the United States to stay in Iraq until Al Qaeda in the country are defeated and a capable Iraqi security force is in operation. McCain supported the troop surge, which has reduced violence in Iraq. SOURCE: WWW.JOHNMCCAIN.COM
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bama is a freshman senator from Illinois. He previously served on the Illinois State Senate. He graduated from Harvard Law School as first black editor of the Harvard Law Review. Education For students that complete a required 100 hours of community service, The American Opportunity Tax Credit would make the first $4,000 of most student’s college education free, and will cover two-thirds of the cost of tuition at the average public college or university and make community college tuition free for most students. Energy His energy plan would invest $150 billion over the next ten years to further private efforts for clean energy. Place one million plug-in hybrid vehicles on the road 2015. Reduce Greenhouse Gas emissions by 80 percent by 2050. Economy A Windfall Profits Tax would provide a $1,000 energy rebate to families, The government would supply a $25 billion Jobs and Growth Fund to prevent state and local cuts in health, education, housing and heading assistance Obama would try to provide tax cuts for families making less than $250,000 a year. Iraq and Afghanistan The invasion of Iraq pulled resources that should have been used in capturing terrorists in Afghanistan who contributed to the attacks on 9/11. Removing troops from Iraq should be responsible and phased, taking one to two brigades a month, with all but residual forces out by 2010. Deployments to Iraq have weakened America’s efforts in Afghanistan, making for strategic risks. SOURCE: WWW.BARACKOBAMA.COM
BOB BARR
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ob Barr represented Georgia in the House of Representatives from 1995 to 2003. During that time he served as a senior member of the Judiciary Committee, Vice-Chairman of the Government Reform Committee and as a member of the Committee on Financial Services. He now practices law and runs a consulting firm in Atlanta, working with rights to privacy and with civil liberties. Education Education reform through privatizing most schools, by taking them out of control of the federal government. Barr is weary of other candidates’ plans to require service work in the education system, including in colleges, as it is not the government’s place to mandate it upon citizens. Energy The government should take away restrictions on energy production and seek to find resources domestically, which would lower gas prices. Government regulation will hurt consumers, and the government should allow exploration and production from areas like the Outer Continental Shelf and Arctic National Wildlife Refuge.
ECONOMY continued page 3
Economy Every area of federal spending should be cut, including welfare, subsidies for businesses, pork barrel spending and any wasteful programs. There should be a separation between the government and the economy, as the government should stop trying to manage the free market.
insidetechnician
Iraq The war in Iraq has been costly, wasteful and unnecessary. Barr would support reducing the military and economic aid we are providing Iraq, as a continued occupation discourages the Iraqi government from taking proper control of its nation.
Students mix it up in the octagon
Chris Sutton and Pete Martin compete for Carolina Crown Saturday at the RBC Center. See page 10.
viewpoint life & style classifieds sports
SOURCE: WWW.BOBBARR2008.COM
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The stock market crash is affecting scholarship aid and University assets, but not yet affecting operational funds
COMPILED BY CHRIS ALLRED | GRAPHICS BY HELEN DEAR | PHOTO ILLUSTRATIONS BY MATT MOORE
JOHN MCCAIN
Economy slows down funding
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