Political Quotes

James Traficant: “Economists say they are mystified. They cannot understand why college costs are going so high. It is no mystery to me…”

On the recordOctober 23, 1997
Economists say they are mystified. They cannot understand why college costs are going so high. It is no mystery to me, Madam Speaker. Check this out: The president of Vanderbilt makes $480,000 a year. The president of Penn, $450,000. The president of Wake Forest, $450,000. The presidents of NYU and Yale make $425,000. Madam Speaker, if that is not enough to tax our student loan, the president of Northeastern makes $1 million. Who is kidding whom? It does not take a Ph.D. to figure this out. Costs are going up at the college level because college presidents are getting hernias from carrying money bags around. Meanwhile, college graduates and students are filing for bankruptcy. Beam me up. Madam Speaker, the President of the United States makes $250,000. I yield back all of those Ph.D. presidents; they are all piled higher and deeper with money bags, I might add.
Said by
James Traficant
Ohio
Source
govinfo.gov

Editor's note · Context

Discussing the rising costs of college education and the salaries of university presidents.

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