00:00Spending your money. It's what the government does inefficiently. Hey, look at that.
00:04Taxes are raised up here. More power to the people. Absolutely not. Let's take a look at
00:08college sports. Now, most teams, Joe, jockey for position to get in a very lucrative contract
00:14because the TV deals carry the day. No conference makes more money than the Big Ten. Rutgers is in
00:21the Big Ten. That's a windfall for the athletic program, isn't it? Apparently not. Rutgers
00:25athletics deficit has hit a record, $78 million. In 2024-2025, New AD Kelly Zinn says,
00:33quote, it's got to get better. So when you get a TV deal worth probably hundreds of millions of dollars,
00:40how do you run a budget deficit of $78 million? It doesn't make any sense, but that's the state
00:48of New Jersey, which I live in. Absolutely corrupt. Horrible governors every year. Horrible state
00:53senators every year. Horrible with everything, your money management. And you know what the
00:56best part about it is? They continuously ask for money and we can't do anything about it.
01:01So Rutgers University operating just like the state of New Jersey, crushing their own people.
01:06Sign of the times, Joe, just the way it is. It's impossible to happen, but it happens. It's New Jersey.
01:12Well, and it happens in states like New Jersey because they keep robbing Peter to pay Paul here. I mean,
01:19the financials, Donnie, show a 73% fringe rate. So that means an employee for the athletic department
01:27making $100,000 is considered to be making $173,000 because they have to also account for their
01:35retirement funds, all the health care, all of that. So basically, they're paying for some coach's
01:43retirement from 1955 because they keep borrowing and stealing from that retirement fund every year
01:50that they have to keep tacking it on every year. So it's very easy to run a deficit
01:55when you continue to try to pay for things from 30 years ago.
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