What is a school trustee's favorite extracurricular activity? Spending taxpayer money!
Educrats and most school trustee's seem to have a hard time understanding the concept of education. Most believe that bigger and newer buildings are the answer to their problems. Most know that these buildings don't take the TAKS exams and the building has very little to do with student success.
Schools are not the only problem! Cities and Counties have a spending problem as well.
Tuesday, September 14, 2010
Are you in debt
I know most believe that they have their financial house in order; however, every American citizen currently owes more than $42,300.00. Not every citizen is a taxpayer so for all you taxpayers you owe $118,600.00.
OM, I have checked you numbers. Things are somewhat worse for some people when you consider a family of 4 and the distribution of incomes. Using a debt that is projected to reach about 150% of our GDP or about $20,000,000,000,000 each family will owe about $500,000. My estimate assumes a population of 300,000,000 with half the people paying taxes.
It is a terrible thing to obligate future generations to such a debt. How will they react to a government that encourages irrational behavior? I think that our mess will make interesting reading in the history of the rise and fall of economies.
OM, I have checked you numbers. Things are somewhat worse for some people when you consider a family of 4 and the distribution of incomes. Using a debt that is projected to reach about 150% of our GDP or about $20,000,000,000,000 each family will owe about $500,000. My estimate assumes a population of 300,000,000 with half the people paying taxes.
ReplyDeleteIt is a terrible thing to obligate future generations to such a debt. How will they react to a government that encourages irrational behavior? I think that our mess will make interesting reading in the history of the rise and fall of economies.