Put it on Credit, it’s the American Way

Let’s see… Port Arthur is going for bond issue round two. Vidor, Beaumont, and Hardin-Jefferson… and quite a few others… are borrowing or about to borrow large amounts of money.

Isn’t this just a hidden or delayed tax increase?

The way I see it it’s a simple process:
1) Pass a bond issue
2) Build a real nice school
3) Start paying off the bonds
4) A year or so later do the budget with the bond payment included
5) Proclaim that you need to raise taxes because of the rise in expenses caused by the bond payments.

Most of the bond planners tell you if they expect a tax increase. I wonder how accurate their estimates have been in the past or will be in the future. It seems as if they are going out of their way to buy something with a fuzzy long-term price tag.

Wouldn’t it be better for the taxpayer’s pocket to raise taxes first, put the cash in an interest-earning account and then build the school with cash?

I have asked a couple of folks this question and the answers I get are so convoluted it makes me feel as if they are either trying to cover up a money grab or it’s good ole’ fashioned government red tape preventing the obviously best solution.

I am highly skeptical of how our leaders spend money earmarked for education.

Do we really need a million-dollar gymnasium? Do superintendents really deserve a half-million dollar or higher salary? Wouldn’t the cash be better spent on more or better qualified teachers?

Just a few questions from a tired person writing a blog entry late at night