One in every 100 Americans is now living behind bars, according to a recent study. USA currently spends 60c on correction for every dollar it spends on higher education – this reflects an increase of 28c over the last 20 years. Clearly, policy choices made over the last 2 decades have sent more offenders to prison and kept them there longer. Between 1996 and 2006, the US prison population increased more than 3% on average.
Collectively, $44 billion was spent on corrections last year, a 127% increase over 1987 totals. In this same time period, spending on higher education increased at just 21% -- this is dire news to hear,but policies aiming to cut the massive amounts of dollars spent on corrections will take longer than expected. This means, jail stocks will still be good investments over the next couple of years. Crime is still too high. The “Catch and Release” program (in which people are now held until their hearing date, rather than set free) has become another source of unmet demand.