RISD Bond Election – Is this a good time to add public debt onto our backs?

1 October 2015 AD/18 Tishrei 5776its getting better all the time

Is it, as the Beetles sang the song, “getting better all the time“? Barack Obama would have you believe this to be the case.

Democrat voters don’t require information to elect a president. All they require are words for their itching ears. “Hope and Change” and “Yes we can!” were two mantras that drove Democrat voters to madly worship this president.

Back to the issue at hand: Are things getting better?

Well, the facts run contrary to Obama’s statements and those phony unemployment numbers emanating from his politicized Dept. of Labor.

According to the Wall Street Journal, citing data from the Bureau of Economic Analysis, while overall productivity is way up, wages have not followed.

WSJ: The Typical Male U.S. Worker Earned Less in 2014 Than in 1973
WSJ: The Typical Male U.S. Worker Earned Less in 2014 Than in 1973

“The typical man with a full-time job–the one at the statistical middle of the middle–earned $50,383 last year, the Census Bureau reported this week.

“The typical man with a full-time job in 1973 earned $53,294, measured in 2014 dollars to adjust for inflation.

“You read that right: The median male worker who was employed year-round and full time earned less in 2014 than a similarly situated worker earned four decades ago. And those are the ones who had jobs.” – WSJ 18 Sept. 2015 http://ow.ly/SSLsh

Investors, capitalists, moms and pops, rich and not-so-rich, who put money into the stock market, are reaping gains, but wages are not following.

Compounding the financial misery to the average worker, ObamaCare rates have dramatically increased and increases in 2016 and 2017 will suck the life out of family budgets. Why are rates going up? Insurance companies are actually paying out more than you are paying in. For example, Blue Cross of Texas which received $2.1 billion in premiums, but claims totaling $2.5 billion resulted in a medical loss ratio of 119%.

Forbes: Why Are The 2016 Obamacare Rate Increases So Large?
Forbes: Why Are The 2016 Obamacare Rate Increases So Large?

Rate increases in other states will be prohibitively higher than Texas. Look at the situation in Maryland. “CareFirst Blue Cross of Maryland is asking for a 34% rate increase on its PPO plan and a 26.7% rate increase for its HMO. CareFirst has an 80% market share in the Obamacare exchange and only 30% of the eligible Maryland market has signed up on the exchange.” – Forbes http://ow.ly/SSMDV

I submit the above for your consideration ahead of the 2016 quarter-billion-dollar RISD bond election. Have you adequate information on this matter? After the housing “bubble” pops, what happens to property taxes, unemployment, etc?

John White
Rockwall, Texas

2 thoughts on “RISD Bond Election – Is this a good time to add public debt onto our backs?

  1. Let’s look at the things in the bond before we dismiss it. The actual impact at its highest point is one lunch a month. Old Schools, leaky roofs, replace worn out floors, improve security, replace outdated technology.. yeah now is the time to skip going out for one lunch a month to give my kids the opportunity to be prepared for the uncertain future our federal government has left us. Obama has dug us a hole and it looks like our kids are going to have to be ready as they may be our only hope.

    1. Michael,

      I have been working for and providing services to building owners for over four decades. Maintenance is the key thought. Items like carpets and roofing have predictable lifetimes, as published by manufacturers and as experienced by building owners. I, for example, am chairman of the Rockwall Housing Authority where we set aside funds for repairs and improvements. We pay cash. We do not and will not borrow money (bonds are long-term loans) for expected repairs and replacements.

      The fact of leaky roofs and worn carpets is evidence of mismanagement. Period.

      Do you know the Education Code? Do you know there are two types of school bonds, one type that cannot increase school taxes and the other that can?

      What research have you done on school finances and public indebtedness? What is our present (before the 2015 bond election) indebtedness per student and what will it be afterward? How does Rockwall ISD indebtedness compare with similar size districts?

      You should know. This is the duty of all voters: to be informed voters. That “$10 per month” figure does not include Maintenance and Operations cost: salaries, retirement funds, educational materials, transportation, etc.

      Debt per student before the bond election was among the highest in the state at over $23,000 per student; after the election, that figure rises to over $42,000 per student. Unsustainable in light of the next economic collapse.

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