Two letters to the editor last month proposed Nevada should issue a "Hope Farm" to provide extra money for education.
Although it would provide money for today, the State would have to borrow more in future to pay interest on the bonds that repay the principal of the bonds at maturity. This idea would just put State deeper in debt.
Moreover, what would prevent our politicians to reduce current levels of education expenditure corresponding to the financing from Hope bonds? The answer is nothing. This is exactly what Colorado did in the 1980s with lottery money for training and other specified uses.
If we want to help education, should we give our time and money directly to local schools. We should keep the hands of politicians and bureaucrats as much as possible.
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