Want another example that demonstrates why we have almost no confidence in our leaders in Washington? You have to wonder if any of them think beyond today and if any ever talk to the people who run the cities back home.
I own two houses and a lot. I just got my appraisal on all three for tax year 2010. Guess what? The housing crisis is finally reflected in the appraisals. We are all being screwed for 2009, but in 2010 the cities and counties get hosed. Do you think they are going to be able to fund the schools with 60% of the 2009 budget? You and I both know the answer to that. I’m not even taking into consideration the lower taxes they will be collecting from lower sales taxes, etc. I’m just addressing the vacant houses and the lower appraisals that reflect the lower values of all real estate.
At the same time, President Obama wants to expand the educational commitment from Washington. He wants education to be free through college. He wants to fix up schools and modernize education. Is the left hand watching the right hand? Of course not. There won’t be enough money to keep the schools open, let alone do all the grandiose things the president wants to do.
Where are the mayors on this? Where is the media? Who is saying we have a huge problem coming in 2010, we need to set aside some money to bail out the cities and counties to keep the existing schools open, such as they are? No one.
So, we will add billions to the school fund from Washington for new frills. Then we will acknowledge we can’t keep the schools we have open in 2010. We will need billions more.
I am not sure whether politicians are looking ahead and hiding the problems or whether they really have no capacity to look ahead.
Either way, there will be another bail out next year that’s not in the budget. Want to save the schools or save Citi? I have my answer. Citi put a bank on every corner and now they need to be half the size they are. Let’s let that happen. The educational system needs an overhaul in this country, but it may have to wait until we cover the budget shortfall caused by the housing crisis caused by Barney, Chris, Freddie, and Fannnie. Will there never be any punishment for them for all the damage they did?
Polititions don’t care about the apprasial price. They will just raise the multiplyier.
Tom:
In Illiniois it takes a vote to raise the multiplier. What are the chances of that passing?
Bill