[Congressional Record Volume 143, Number 144 (Thursday, October 23, 1997)]
[House]
[Page H9042]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        COLLEGE COSTS MOUNT AS COLLEGE PRESIDENTS' SALARIES RISE

  (Mr. TRAFICANT asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. TRAFICANT. Madam Speaker, 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.

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