Thames said-

"We'll just have to work harder - everyone will have to put the wheel to the grindstone," he said. "Faculty members may have to teach more classes than they'd like to, but we're going to survive, there's no question about it."

Not clear if Shelby wants faculty to put their nose to the grindstone (punitive) or shoulder to the wheel (work harder). Or maybe this is some odd shorthand way of saying both.

I guess we haven't been giving a day's work for a dollar's pay.

Regardless, only a bonehead President would make a public statement of this nature in April before the complete financial picture is in place for the next FY.