Should Texas Really Be Funding A F1 Race While Laying Off Thousands Of Teachers?

Should Texas Really Be Funding A F1 Race While Laying Off Thousands Of Teachers?

Texas, which may balance its budget by firing thousands of teachers, plans to commit $25 million in state funds to Formula One auto racing each year for a decade.

Four years after motorsports’ most popular series left the U.S., Texas investors including Clear Channel Communications Inc. co-founder B.J. “Red” McCombs are building a 3.4-mile (5.5-kilometer) track to bring the event to Austin. Comptroller Susan Combs has agreed to pay $25 million for races through 2022, a subsidy questioned by critics and lawmakers as the state cuts costs to close an estimated $15 billion two-year deficit.



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u080570u080570 - 5/12/2011 3:43:57 PM
+2 Boost
No - they are laying them off because of budget issues


800over800over - 5/12/2011 4:26:06 PM
-8 Boost
They'll need to invest a lot cause the only people that'll be left to work are uneducated.


800over800over - 5/12/2011 8:46:49 PM
+1 Boost
overheard at the Texas F1 track...."these cars sure is fast!"


uaw_laxuaw_lax - 5/14/2011 3:57:16 PM
+1 Boost
you know what they say when you assume.


HSCenterconsoleHSCenterconsole - 5/12/2011 3:43:12 PM
0 Boost
When did autospies become so political? I don't feel bad when teachers with tenure (a job security like no other industry or sector) with bloated pensions are let go.


MorePowerMorePower - 5/13/2011 2:37:55 AM
-5 Boost
How are their, teachers, pensions bloated?
How many teachers reach tenure in the state of Texas, or any state?

I love F1 like any fanatic, but funding this race and firing teachers to fix the budget instead of not subsidizing the oil companies that are all making tremendous profit at our expense is wrong!


MBCLS07MBCLS07 - 5/12/2011 7:59:06 PM
+8 Boost
It's the economy, stupid. The initiative is projected to bring hundreds of millions of dollars in economic activity into the Texas economy. This will help local businesses, create/save more private sector jobs and bring in more tax revenue. While layoffs are always difficult, it's also an opportunity to get underperforming education dept. employees off the taxpayer dime. It simply isn't fair that the taxpaying private sector should be made to bear the brunt of layoffs and unemployment while taxpayer supported gov't employees are immune from the reality of a poor economy. Final point, if you think there are too few teachers there's a simple solution. Deport foreign nationals illegally attending public schools at taxpayer expense.


800over800over - 5/12/2011 8:50:57 PM
-7 Boost
ahhh the old....if you give corporations lots of money they'll spend all their money and create jobs/taxes. Anyone remember how that worked out for Reagan when he tried it? Guess what: currently Corporate profits are through the roof. Are they spending more or less than last year on employment....answer: the same. They just put more money in their rich pockets. Although I'm sure it's the local yokels who are gonna shell out $200 a ticket to see the F1 races. NO rich people go to watch Ferrari....


MBCLS07MBCLS07 - 5/12/2011 10:55:16 PM
+7 Boost
@800over,
I'm going to skip right over your strawman argument and anti-business, class warfare talking points and get right to the one thing you unintentionally got right. True, it's not the "local yokels" that will shell out $200 a ticket. It's the affluent who will patronize the track, and inject money into the local economy—hotels, restaurants, etc. This will increase revenues, and therefor taxes, while positively impacting employment. It's economics 101. Perhaps, if more of those public school teachers were doing a better job teaching basic economics, the nation would be in better fiscal health and their teaching jobs more secure.


800over800over - 5/13/2011 10:06:13 AM
-4 Boost
ahhh....all those high paying restaurant and hotel jobs, Great for permanent full time employment for the average person. Either way this doesn't explain why the tax base is paying for a private enterprise owned by a billionaire. You avoid that this is handing money to the rich.


800over800over - 5/12/2011 8:57:32 PM
-5 Boost
all those money grubbing teachers making an average of $48k a year. How do they even have time to spend it.
B.J. (Red) McCombs who owns the track is only one of the country's richest people....guess he needs a subsidy. The guy has 1.3 billion!!!!!!!!!!! People are all for Socialism when it benefits the rich....but when it pays poeople 48k a year they're on the "taxpayer dime" I'll tell you I'd much rather have the 25 million a year than the 48k.

http://www.forbes.com/lists/2009/54/rich-list-09_BJ-(Red)-McCombs_FEZ2.html


800over800over - 5/12/2011 9:01:19 PM
-5 Boost
Sorry I take that last post back....I admit I was wrong....BJ has 1.5 billion. My numbers were a little off.

http://zwingliusredivivus.wordpress.com/2011/05/12/texas-has-stupid-government-officials/


r_driver04r_driver04 - 5/13/2011 10:43:29 AM
+1 Boost
I wonder what level of education will be required to even work at the track? Guarantee you the local yokels won't qualify. The money brought in by the track will infuse the local economy with much needed revenue. The question is, how will that revenue be utilized?


investor27investor27 - 5/13/2011 1:36:46 PM
+4 Boost
The ones that are not doing their jobs properly are the ones being let go. How many high schools kids graduated and are still illiterate?


800over800over - 5/16/2011 12:26:55 PM
+1 Boost
Incorrect......you have to know that the teachers have a union....the newest blood goes first.


I95SPEEDINGTICKETSI95SPEEDINGTICKETS - 5/13/2011 2:42:49 PM
-4 Boost
Judging by the Intelligence Level and Dismal Speech Articulation of the Texas Schooled Former President GW Bush, id say the teachers are not exactly doing a stellar job.


uaw_laxuaw_lax - 5/14/2011 4:03:00 PM
+1 Boost
Teapublicans are just totally backwards and insane. Who in the heal would believe Trump and Palin would be good leaders of this nation? Want our educators to work for peanuts when they are key to this nations return to greatness by educating our future generations. I guess we can impress the world with effin racetrack.


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