Category / Education

by Hoosier Econ

Teens Getting Driver’s License Declining

drivers license

I was running some errands this morning and caught Glenn Beck on the radio. He was discussing some societal trends that related to economics and brought up the fact that 19 year old people are declining in getting their drivers license. Here is what he said:

Nineteen year old people getting driver licenses has declined to 65%. Down from 93% just ten years ago.

This is a big drop so I decided to look up this decline and found the Washington Post wrote about it in 2013. Here’s what they found:

Back in 1983, about 87 percent of 19-year-olds had drivers’ licenses. But in 2010, only 69.5 percent did.

They also cited reasons in a survey of why they didn’t obtain the license and here is the breakdown:

—37 percent said they were either too busy or didn’t have the time to get a license.

—32 percent said that owning and maintaining a vehicle was just too expensive.

—31 percent said they could hitch a ride with someone else if needed.

—22 percent said they’d rather walk or bike.

—17 percent said they’d rather use public transportation.

—9 percent said they were worried about driving’s effects on the environment.

—8 percent said they could work or communicate online.

—7 percent cited disability or medical problems as their main reason.

by Hoosier Econ

Neil DeGrasse Tyson TV Show Tanks in Ratings

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The most brilliant man on the entire planet [sarcasm] debuted his new tv show “Star Talk” this past Monday, April 20th. So how did Neil DeGrasse Tyson do in the cable ratings? He didn’t even register in the Top 100 shows on cable TV for the entire day per TV By the Numbers.

I find this a bit funny considering whenever I meet his fanatic fan base I get lectured about how popular and smart of a guy he is. So who did the cable viewers decide to watch at the 11 p.m. hour instead of this messiah of science?

– Family Guy
– Fast n Loud
– Modern Family
– DINERS, DRIVE INS & DIVES
– LOVE & HIP HOP ATLANTA 4
– King Of Queens
– Friends
– Conan
– True Life

But don’t worry, Neil DeGrasse Tyson will redeem himself this week by interviewing militant social activist Dan Savage…… [more sarcasm]

by Hoosier Econ

How the State of Indiana Budget is Spent

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H/T BallotPedia.org

by Hoosier Econ

More Proof Student Loan Debt Will Crash in the Future

Robert Wenzel over at EconomicPolicyJournal.com posted two impressive charts which defy the reality of economics and shows the coming student loan debt bubble will be a hard crash when it happens. Biggest reason student debt is skyrocketing is because most student loans are financed by the federal government. Unfortunately the only ideas being floated is more government intervention.

First chart is the mega growth of student loans compared to other loans in the economy
student loans 1

Another chart he posted shows that only 29% of people paying off student debts and the principle is going down.
student loans 2

by Hoosier Econ

Big Changes Coming to Indiana Business Property Taxes

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Story concerning a property tax case that could affect the whole state businesses property taxes slipped through without much notice. An Indianapolis Meijer’s store filed suit against Marion County Indiana over how it’s store was assessed for property taxes. Counties could stand to lose financially if the ruling stands.

Here is more from mLIVE.com –

The Indiana Board of Tax Review ruled last month that the Michigan-based retailer’s store in Indianapolis should have been assessed in 2012 at the equivalent of $30 per square foot, instead of nearly three times the rate as Meijer was charged.

The decision could leave Marion County on the hook for a $2.4 million refund to Meijer and could set the stage for other retailers to make similar challenges to their tax assessments.

The value of retail real estate is based on the current condition of the business, but the case raises questions about what effect, if any, the sales that occur there should have on the value. Big-box chains are pushing to have their buildings compared to others that have been vacated and sold, an approach known as the “dark store theory.”

If the tax board’s ruling stands, Meijer will save more than $400,000 a year on its tax bill.

by Hoosier Econ

Visual of the Federal Government School Lunch Mandate Part 2

Back in November I posted a write up called “Visual of the Federal Government School Lunch Mandate”. I received A LOT of negative comments from people saying I didn’t know how the school lunch process works. One person even claimed I was a liar and I challenged that person to eat what the school lunch program suggested. Person hasn’t talked to me since. Problem with some people today is they don’t grasp how fast social media can tell the truth. A picture can be sent out and in the matter of minutes the entire U.S. can view it.

Now another picture has been sent out of what a lunch looks like under the federal government mandate. It’s not pretty. You can read the whole article here at EagNews.org. I’ll give you a brief snippet:

    PORTSMOUTH, Va. – That’s not really a fish filet with a whole wheat bun resting on top.

    Nah, your eyes are playing tricks on you.

    That’s what administrators at Virginia’s Portsmouth Public Schools want parents to believe after a mother took a photo of her child’s paltry school lunch and posted it on social media.

    The mom says James Hurst Elementary served the lunch Tuesday.

    After the photo began circulating around the community, Food Service Coordinator Jim Gehlhoff admitted the lunch “concerns us,” but added that it might not actually be as bad as it looks.

    portsmouth-lunch“Poor lighting and food presentation make this lunch unappealing,” he said in a statement released to the media.

portsmouth-lunch-e1429202916475

by Hoosier Econ

Report: Shortage of 90,000 Physicians by 2025

tireddoctor

In a report prepared for the Association of American Medical Colleges a grim outlook was given concerning physician supply in the United States. Here is what was found:

    Demand for physicians continues to grow faster than supply, leading to a projected shortfall of
    between 46,100 and 90,400 physicians by 2025

The report can be read here. Much of the shortage will be from stronger demand of people getting on Obamacare.

by Hoosier Econ

Ten Most Dangerous Jobs for Men

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by Hoosier Econ

The Financial Costs of Hoosiers Overdosing on Heroin

heroin-addiction
Heroin is clobbering the state of Indiana and it comes with an enormous financial cost. Law enforcement, imprisonment, children removed from homes and other costs are all there for many to dissect. The DEA recently put out an alert of a possible explanation of why people are overdosing on heroin.

    The United States Drug Enforcement Administration (DEA) today issued a nationwide alert about the dangers of fentanyl and fentanyl analogues/compounds. Fentanyl is commonly laced in heroin, causing significant problems across the country, particularly as heroin abuse has increased.

    In the last two years, DEA has seen a significant resurgence in fentanyl-related seizures. According to the National Forensic Laboratory Information System (NFLIS), state and local labs reported 3,344 fentanyl submissions in 2014, up from 942 in 2013. In addition, DEA has identified 15 other fentanyl-related compounds.

    Fentanyl is a Schedule II narcotic used as an analgesic and anesthetic. It is the most potent opioid available for use in medical treatment – 50 to 100 times more potent than morphine and 30 to 50 times more potent than heroin. Fentanyl is potentially lethal, even at very low levels. Ingestion of small doses as small as 0.25 mg can be fatal. Its euphoric effects are indistinguishable from morphine or heroin.


Costs associated with saving an overdosing addict are skyrocketing as well. More municipalities are wanting police to carry heroin antidotes since they are usually first to encounter a person overdosing. Foxnews.com had a post about the antidote naloxone.

    Naloxone reverses the effects of opioids – drugs derived from opium, including heroin – on brain receptors. But a price increase late last year means that instead of buying 400 naloxone kits for a little under $21,000 – at $51.50 per kit paid to a third-party distribution company – that’s now enough for only 200, at just under $100 per kit, a negotiated discount that’s $5 cheaper than what he was quoted.

by Hoosier Econ

NCAA & TV Ad Revenue from March Madness

march madness

The NCAA Basketball Tournament kicks off in a few days. As America tunes in to watch the games the NCAA will watch their bank coffers fill up. How much does the NCAA make each year during tournament time. According to Andrew Zimbalist, an economics professor at Smith College, hundreds of millions:

    “The institution itself that’s based in Indianapolis, makes money primarily through television rights to the March Madness basketball tournament. They get somewhere in the neighborhood of $770 million dollars a year. That constitutes around 90% of all of the revenue that goes to the NCAA,”


Television stations are more then willing to pay that type of money to the NCAA for rights to air the games. Here is their ad revenue from 2013:

    Over the past decade (2004-2013), the NCAA men’s basketball tournament has triggered more than $6.88 billion of national TV ad spending from 269 different marketers. Ad revenue in 2013 was $1.15 billion, up 3.8 percent from the prior year.