Wilson Times:We Endorse the Bond, but We Know a Better Way

The Wilson Times is in favor of the 1.9 billion dollar bond for schools, but bets on another way:

While the school construction bond is a worthy investment, we can’t pay our bills on billion-dollar credit cards forever. The state needs more recurring revenue to support public education. That’s why The Wilson Times is calling on lawmakers to legitimize, regulate and tax video sweepstakes centers and devote 100 percent of the proceeds to our schools.

Because we totally can trust lawmakers to devote 100% of any revenue to a single area. Have we done this area before?

As for moral resistance to gambling, that horse has been out of the barn for more than a decade. The N.C. Education Lottery ponied up $100 million for local school systems this year. A tax on sweepstakes gaming would serve as a much-needed multiplier.

Can anyone come up with another revenue raiser for schools? Legalize and tax pot? Tolls in the car-rider line?

Or maybe some level of general taxation and spending policy which allows for an appropriate level of financial support for infrastructure? I know. Crazy talk.

 

The Post in Which I Compare Belly Fat, Potato Chips aqnd a New Public School Bond Request

We were going to fund repairs and new construction as needed…but instead, we will borrow money. Which oddly enough, is exactly the way we’ve done this before.

 

NC Policy Watch:

State House Speaker Tim Moore announced that he would file a bill to put a $1.9 billion public school bond on the ballot, addressing at least a portion of the state’s capital needs.

According to Moore’s release, $1.3 billion would go to K-12 construction needs, $300 million to the UNC system, and $300 million to North Carolina’s community colleges.

I shouldn’t complain. The repairs and expansion will probably get funded.  

Lawmakers did authorize and voters approved a $2 billion bond in 2016 to fund STEM (science, technology, engineering and math) facilities on UNC campuses, but the state’s K-12 schools have long bemoaned the state of crumbling facilities in some of North Carolina’s poorer regions.

State lawmakers didn’t notice that some counties were poorer? That the funding formula creates inequality?

And if this bond measure goes through, lawmakers will wait until folks forget about the last two bonds before asking voters to fund another bond to pay for something else. 

State officials told legislators nearly three years ago that the school construction tab was expected to balloon to $13 billion by 2026…

Oh, and somebody is going to point out that this will only increase taxes a very small amount. That’s like me justifying polishing off a bag of chips containing six grams of fat, saying that compared to the fat already hanging over my belt…six grams is very little.

Please.

When you borrow more than a billion dollars, it costs a lot of money.  If you need to borrow more than a billion dollars for something so predictable as educational infrastructure, something is wrong.