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IN CELEBRATION OF
YOUR LAST FOUR YEARS
CONGRATULATIONS
1993 GRADS
Grads! We want to thank you for
your business and wish you the best
of luck in the future. Come in and
celebrate your graduation with us!
Guido $
RESTAURANT & MORE
13th & Alder
On Campus Desktop Publishing and
Darkroom Services -> 346-4381
Career & Graduation Guided
Photo by JaP Paatoy
For ifMM graduates the economy la looking up to tho return of the American Dream and quality In the lob
force.
Skills learned in college
bring success to graduates
NEW YORK (AP) — It was called a dream but it
wasn't a dream at all It was a possibility, a goal to
be achieved it a person worked hard and observed
the rules ol financial prudence. The American
Dream.
It was understood that with luck and commitment
you could expect to better your lot with each suc
ceeding year, and that each generation would ele
vate itself to a higher level ol material achievement
than its predecessor.
You aspired to a college education or a skilled
trade and with the proper application you ac
complished it You married and looked (or an afford
able house, and often you found one before the age
of 30
There were great exceptions, as there were
bound to be in a country large as the United States.
Millions could only dream of the dream But for
many millions of people it became the achievement,
the experience, the reality.
It still exists too. though faded and wrinkled, wea
ned by tough times and broken promises, and polit
ical balms and nostrums that raise hopes and laith
in the dream and then destroy those hopes when
they can't deliver
Young people now aren't assured of a financially
better life than their parents Two decades of infla
tion enhanced the net worth of their parents, who
owned assets such as houses But it made it
tougher for kids to acquire them
Young households today can't rely on things get
ting better and better The Tax Foundation says the
two-earner family with two kids lost buying power to
inflation and taxes in each of the past four years
Total Si,444
A college education is perhaps more accessible,
but costs have soared at almost all schools and
many educators believe the quality of instruction
and preparation at state subsidized schools has
been diluted
Houses are harder to come by at an early age.
Affordability — an equation based on incomes, inter
est rates and prices — is the best in 15 years, but
that's not saying a lot. It was easier to buy a house
20 years ago
Figures from the National Association of Home
Builders show that in 1974 nearly 43 percent of
households age 25-29 years were owners. The per
centage in 1991 was 33.8. While the rate might have
risen a bit since then, it is no more than 35 today.
Economists attribute this slow fade to various fac
tors, but most would agree that a decline in produc
tivity growth — which translates into the rate at
which per capita wealth is created — is basic to the
problem.
If you fail to create wealth you cannot distribute it.
That's the hard reality, and you can accept it or deny
it at your peril. You can make a pretty good argu
ment that America decided on the latter, and is pay
ing lor it.
The evidence is found in such items as the growth
of entitlement programs, other government pro
grams. government debt, budget deficits, tax in
creases and mandates to the private sector, all of
which drained energy from the economy.
It may be temporary. Some economists contend
that a private-sector restructuring is occurring under
our noses Companies are more efficient and pro
ductive and people more realistic, setting the stage
for better times again.
Already, changes have occurred A day's work for
a day's pay has been relearned Management's
midriff has been trimmed and is contributing to
rather than living off the company. Quality is up. Ser
vice is more than a slogan.
Events seem to advise that achievement of the
dream may lie in more realistic expectations, reflect
ed by willingness to delay material pleasures and
live within incomes and more productive work
habits.
In short, smart, effective, work and foresight is
what's called for
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