Now that Canada amazingly started doing the RIGHT THING in response to ElonTrump’s monstrosity, the total failure of all US parties and institutions is more salient.
Canada is following the Booker T philosophy. When you’re the mouse, you have to use your own mousy talents to survive. You can’t beg the cat for permission, and you can’t behave like a cat.
Specific example: Columbia University still thinks it’s a cat. Big universities have huge endowments.
The PURPOSE of a cash reserve is to help you survive through bad times.
Columbia is facing a possible loss of $400 million in grants. It steadfastly refuses to use its $10 billion endowment, instead begging the ruler for exceptions and reprieves. Won’t work.
Quick estimate: Most likely an endowment gets more than the historical norm of 4%. I’ll assume the norm. 4% of 10 billion is 400 million. Columbia could divert the interest on its endowment to replace federal grants, without consuming its capital or cutting any grants.
Polistra's Mill 