Business & Education

Two-thirds of American college graduates left school last year with student loan debt hanging over their heads and the average amount they owed was $26,600, up 5 percent from the previous year. They also walked into a "tough job market" that was only marginally more friendly than in 2010, according to a report released today by the Institute for College Access and Success (TICAS).

The percentage of Americans working in manufacturing fell under President Reagan. It also fell under Presidents Bush, Clinton, Bush and Obama (respectively).

Which is to say, the decline of manufacturing jobs in the U.S. economy is not about who is president or what his policies are. It's the result of long-running, irreversible, historical factors (read: technology and globalization).

The rate at which builders began work on new homes surged to a four-year high, the Commerce Department said today.

The AP reports that September clocked the fastest pace since July of 2008. The AP adds:

"The Commerce Department says builders broke ground at a seasonally adjusted annual rate of 872,000 in September. That's an increase of 15% from August.

Why do so many people hate Monsanto?

Is it because this multinational corporation pioneered some enormously successful genetically engineered crops, including corn, soybeans and cotton?

Sixty years ago, the book Charlotte's Web first appeared in print. This children's classic is often seen as a story of a spider and a pig. But when E.B. White recorded a narration of the book, he said something different: "This is a story of the barn. I wrote it for children, and to amuse myself."

Willow Tufano became a homeowner earlier this year. This was newsworthy because Willow was 14 years old. She raised money to buy the house by selling stuff on Craigslist.

I spoke to Willow again last week and got an update. She's 15 now, and her life over the past few months was sort of surreal. She got caught up in two dramas: America's housing market and America's media circus.

A life well-worth noting has caught the attention of obituary writers:

-- "Andrew F. Brimmer, a Louisiana sharecropper's son who was the first black member of the Federal Reserve Board and who led efforts to to reverse the country's balance-of-payments deficit, died on Sunday in Washington. He was 86." (The New York Times)

More states and cities are turning to casinos to generate revenue and plug budget holes.

The latest to try its luck is Maryland, where groups are waging an expensive campaign over a ballot question that will be put to voters next month. Proponents promise jackpots of jobs and funding for public schools, but analysts say the gamble doesn't always pay off at the levels promised for public coffers.

"U.S. consumer sentiment unexpectedly rose to its highest in five years in October as consumers became more optimistic about the economy in a possible boost to President Obama's reelection hopes," Reuters reports.

A new kind of crop is being planted in the United States, and it doesn't require any land or fertilizer. Farming it improves the environment, and it can be used in a number of ways. So what is this miracle cash crop of the future?

It's seaweed.

Charlie Yarish, professor of ecology and evolutionary biology at the University of Connecticut, loves seaweed. In nature, he says, when seaweed turns a rich chocolate color, that means the plant is picking up nitrogen, a process called nutrient bioextraction.

Anheuser-Busch, Pabst and MillerCoors are among the big beer makers the Oglala Sioux tribe has accused of illegally selling millions of cans of beer each year in Whiteclay, Neb. The town borders Pine Ridge Indian Reservation, which is located across the state line in South Dakota and is dry.

The Oglala Sioux's federal case was thrown out, and the tribe is considering what to do next — legalize alcohol or go to state court.

The names Columbine and Virginia Tech have both become tragic shorthand for school shootings in America. In the wake of those shootings, schools have developed a fairly typical lockdown procedure when there's a threat: sound the alarm, call police, lock doors and stay put.

The standard school-lockdown plan is intended to minimize chaos so police arriving on the scene don't shoot the wrong people. Students practice following directions, getting into classrooms and essentially, waiting.

Here's an astonishing fact: Half of America's mushrooms are grown in one tiny corner of southeastern Pennsylvania, near the town of Kennett Square.

But why? It's not as though this place has some special advantage of climate or soil, the kind of thing that led to strawberry fields in Watsonville, Calif., or peach orchards in Georgia. Mushrooms can grow indoors. They could come from anywhere.

Students pay much more for a college education in the U.S. than they do in most other countries. But they also get a bigger return on their investment.

Here's a graphical breakdown comparing the cost and the payoff for a college education.

A few notes:

The data come from a recently published OECD report looking at educational data around the world. The cost of education includes tuition fees and living costs paid by the student, as well as earnings that students forgo by not working while they're in school.

RealtyTrac, an online industry group that follows the foreclosure market, says the number of foreclosed properties nationally dropped dramatically in September, down by seven percent from August. And the firm says since September 2011, foreclosures are down 16 percent — that's the lowest total since July 2007.

Unless Congress acts, the Defense Department faces some $55 billion in cuts after the first of the year. The cuts are part of what's known as sequestration — automatic across the board spending cuts to both defense and nondefense government spending set in motion by last year's debt-ceiling fight.

Salaries for uniformed personnel are the one major thing that's protected. Otherwise, it's about a 10 percent cut to everything from Pentagon civilian staff to the acquisition of multimillion-dollar aircraft, like the F-35 Joint Strike Fighter.

Affirmative action in higher education appeared to take a potentially lethal hit on Wednesday, as the U.S. Supreme Court heard arguments testing the constitutionality of a race-conscious admission program at the University of Texas, Austin.