The Las Vegas Convention and Visitors Authority knows the value of money. So the decision by the Authority to spend $4 million to host the third and final Presidential debate on October 19th, has to be seen as a decent bet on the PR value that would accrue to the city, and the University of Nevada, Las Vegas where the encounter will take place. UNLV itself has subsequently spent an additional $4 million.
It is hardly breaking news that rates of intergenerational mobility in the U.S. are low. It is especially troubling given our self-identification asa land of opportunity, full of people scrambling up the economic ladder. There is bipartisan agreement about the problem. “Upward mobility is the central promise of life in America, says House Speaker Rep. Paul Ryan, “but America’s engines of upward mobility aren’t working the way they should.” Meanwhile President Obama warns that “a dangerous and growing inequality and lack of upward mobility…has jeopardized middle-class America’s basic bargain — that if you work hard, you have a chance to get ahead. I believe this is the defining challenge of our time.”
Washington College in Maryland is planning to cut tuition fees by up to $2,500 a year for families who have saved into tax-favored savings vehicles like 529 plans. Let us cut straight to the chase: it shouldn’t. The plan will reward those from affluent backgrounds and potentially trigger a merit aid-style arms race as other colleges feel obliged to follow its lead.