Comment of the Day: No Money For Schools, But Plenty For Formula 1 Racing

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We have some great commenters here on Hair Balls, and it's time we paid some damn attention to them.

So we'll be highlighting a Comment of the Day each morning, from the previous day's work. Maybe two comments, even.

This will all be determined by a highly rigorous scientific formula involving wit, clarity and whatever else we feel like at the moment.

We wrote about the Houston school district closing four elementary schools, at least partly because of a budget crunch caused by cuts in state funding.

One reader highlighted a big outlay of state funding that wasn't getting cut, even as teachers around the state are losing their jobs.

Hill wrote:

Houston shuts down 4 schools to save 2 million bucks, meanwhile the uber "conservative" Texas legislature doles out 250 MILLION to host a F1 race in AUSTIN.

'Lucy Nashed, spokeswoman for Gov. Rick Perry, said the governor is "thankful" for the work of the comptroller in securing the Grand Prix in Austin.

Unbelievable. Does the state even know or care that Houston exists?

250 million for a car race, in Austin. Anyone who voted for Perry, congrats, morons.


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6 comments
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Mimi
Mimi

 I think that's spelled "morans"

SoundInvestment
SoundInvestment

 The reality is, to make money you must spend it. This is an excellent opportunity for the state of Texas (not just Austin), to bring revenue to the state coffers that will exceed what is invested. Educating our children is the most important investment our society can make, but Formula 1 will have a net economic gain on our return that will exceed any other investment vehicle we are likely to come across in the short term. This return is funneled back to the people of Texas which provides an additional revenue stream for our tax-ecosystem and greater opportunities for our children. The people that will see the money from this investment are our state's hard workers which will provide services and goods for this project from across the state of Texas. Think about this: would you say Florida benefits with having the Daytona 500 or Indiana from the Indianapolis 500? Those events are "chump change" compared to the spectacle that is Formula 1. Yes, it is a racetrack and yes, it is in Austin. But the result will be more opportunities for the economy of Texas and the people of Texas.

The OSD
The OSD

I believe it is $25 million

Hill
Hill

 It is 25 million a year, for TEN YEARS.

Russell
Russell

But it's from the states special events fund which is money set aside to attract special events like the Super Bowl or Formula 1 to Texas.  The resulting increase in tax collections should more than cover the original outlay.  If the money doesn't go to Formula 1, it just stays in the fund.  To say that teachers will be fired to pay for a race is pure demagoguery. 

Hill
Hill

Is the "special event fund" funded from our taxes?

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