This Under the Dome post exemplifies the hypocrisy of our state rulers.
The state’s college students don’t know enough about managing money and debt and get themselves in trouble, state Treasurer Janet Cowell learned on a debt tour of college campuses.
“This experience, along with national research, has demonstrated the need for programs that can assist and educate students on debt and its consequences,” Cowell said.
I find it quite curious that North Carolina’s State Treasurer (and former 2-term State Senator) would find a need to “educate” others about “debt and its consequences.” It seems that she and her General Assembly cohorts are quite comfortable running up massive debt.
A quick review of North Carolina’s finances shows that the state’s debt per capita doubled in just four years (2000-2004) amidst a 15-year time span in which it increased nearly sevenfold. The State’s debt service payments are now nearly two and a half times what they were ten years ago. And let’s not forget the $29 billion unfunded liability for state retiree health benefits hanging around taxpayers’ necks.
Of course, because government is playing with other people’s money, its not a concern because, after all, they’re not “getting themselves into trouble.”
Maybe voters will someday educate our state lawmakers about “debt and its consequences”.