Last year the pathetic decisions of the legislature & governor resulted in a worsened credit rating, causing future interest payments to climb even higher. The final bill to each taxpayer will be much higher than the $4848 of current debt-per-resident. And with each obituary we read, and every birth announcement, the debt gets transferred from one generation to the next.
Three years ago, then state senator, Brian Crain, openly called for the state to issue & sell $2.5 BILLION in state bonds (long term debt), and put that immediate funding into annual public education funding. It was a 'shell game' whereby the students would essentially have a student loan that they never co-signed. They would either have to move out of state or begin repaying just as soon as they entered gainful employment. But it's not a loan that only students repay. It would be put upon all of us.
Crain's scheme demonstrates an open hostility and defiance of our state constitution. We are mandated to stay out of debt. in our annual funding of government. Sure, some will immediately argue that capital improvements should rightly be amortized over the life of the fixed asset. To put that more simply, The Grand River Dam might last 100 years, so why not take 20 years to pay for it? That argument may hold sway with some. But former Senator Brian Crain wasn't calling for the funding of an arena, highway, school campus, or other deeded real estate. He was literally mortgaging our children. and planning to make them repay their own ransom. For the record, Crain's scheme was solidly rejected by the legislature; giving us hope that there remains some sanity in a few members of the legislature.
Opinion of the Editor
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David Van Risseghem is the Director of Sooner Politics.org. The resource is committed to informing & mobilizing conservative Oklahomans for civic reform. This endeavor seeks to utilize the efforts of all cooperative facets of the Conservative movement...