Wednesday, August 11, 2010

$26 Billion Debt Bill - Some States Wonder What To Do With Funds

Another indication that the Democrat Congress and Obama care nothing about the deficit, the economy or you, the taxpayer. This bill to bail out the teachers' union adds billions to the horrendous debt that our children and grandchildren will have to pay, either through taxes or inflation of the dollar. Right now, with the Democrat spending totally out of control, it is possible that our economy will totally collapse like that of Greece. Unlike in Greece's case, there will be no one to bail us out.

With the passage of a $26 billion aid package Tuesday to help states pay for Medicaid and teacher salaries, most state budgets will get some help in paying for education programs, but states not facing massive teacher layoffs and cutbacks are also set to receive millions in federal money.

The federal government estimates that the bill will save 161,000 teaching jobs, but North Dakota, Tennessee, Arkansas, Alaska and a handful of other states have kept their educational pay rolls full despite the recession, which has drastically lowered government revenues around the country. Since the new bill provides funds based on state population and the number of children in school, these states will receive funds even if their budgets are in the black. This has some employees at state education departments wondering exactly how they will spend all the fresh cash.
States not facing teacher layoffs get federal money from education jobs bill anyway

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