Should we citizens debate debt (taxes, grandchildren burdens, spending and outcomes)?
As MPS asks taxpayers for $252 million in April, I asked (taxpayer funded Milwaukee K-12) Superintendent Keith Posley about national testing data (NAEP) that show Milwaukee 4th graders have been scoring worse than the average big city district for more than a decade (deeper dive).
(His response):
“We have made things happen for children.”
This particular program — a satellite system in GEO — is classified, but we know from an earnings call that Northrop Grumman did a $2 billion reduction “related to the termination”
That’s right, more than $2 billion for a single satellite.
The school district is planning to hit up taxpayers for $1 billion — one Billion with a capital B dollars — in referenda over the next 20 years to go carbon neutral.
MMSD can’t teach or keep young Javon safe but it’s going to replace that Swedish girl’s perpetual scowl with a Mona Lisa smile.
US Debt Clock 24 February 2024:
Debt per citizen: $101,978. Debt per taxpayer: $265,178
Over the last 4 years alone, total US debt is officially up $11 trillion and counting. At the current rate, we will see $40 trillion in US debt by 2026 and that assumes a “soft landing.”
The Madison Literary Club hopes to host a substantive fall event featuring Wisconsin 2024 US Senate candidates discussing the current debt situation, how we arrived here and what should be done about it.
debt is money owed (learn more).
Debt has many uses, from very useful to wasteful. Infrastructure such as roads, sewers, water systems and our current home ownership system is built on hopefully the wise use of debt – often secured, that is collateralized by an asset such as a home (mortgage). It can also be a way to quickly waste funds and generate fee income for the financial food chain.
Finally, I’ve heard a number of complaints over the years from the farming community about bailout policies and agriculture crises over the years. Of course, farm subsidies, particularly toward large organizations and interests, are part of the mix as well.
