Is This Why College Tuition Costs Keep Going Up?

Can you imagine a situation in the private business world where one
part of the business was allowed to issue millions of dollars of debt
without approval from the board of directors? Certainly it would not
be long before that business would simply cease to exist. No doubt it
would be driven into bankruptcy by out-of-control employees who spend
without check or balance.

Yet that is exactly what is occurring in state government. The Regents
for Higher Education are issuing millions of dollars of bond projects
without the approval of the legislature. The projects not only indebt
state government to paying off the principal of the debt, but the
unnecessary interest as well.

In fact, it appears that in the last 8 years, more than 250 million
dollars have been issued by the Regents in debt. Currently, around 180
million of this is still waiting to be paid back. The money has been
requested for use on projects as varied as athletic score boards to
golf course maintenance equipment.

Recently, a courageous member of the Council of Bond Oversight asked
his board to seek an Attorney General's opinion on the
constitutionality of the Regents to issue this kind of debt.
Unfortunately, not enough members of his board voted to support his
effort, and it failed.

I believe this is yet another step by a run-away big government
bureaucracy to continue to indebt the people, while placing the tab
for these expenditures on the backs of future generations. Those who
spend our money will immediately benefit without having to give
thought to the consequences of dealing with the interest that will
accumulate over time on the debt they issued.

When dealing with their personal budgets, many people realize the
important concept of going in debt only for emergency circumstances.
This common sense principle should be applied to the government as
well.

The government should certainly not be placing us in debt for score
boards and golf course maintenance equipment. And most definitely,
those who should be making the decision of whether or not to incur
this indebtedness should be the elected representatives of the people;
not unelected bureaucrats.

Perhaps this "spend-happy" attitude explains why Oklahoma's college
tuition has been increasing so rapidly over the past few years.

I will be the House of Representatives author of a Senate Bill by
Senator Patrick Anderson to greatly limit the ability of the Regents
to issue this type of debt. Anderson has worked hard to expose this
inappropriate spending and I certainly appreciate being able to
sponsor his bill in the House.

Should Anderson's bill not meet with success this year, I am sure that
either Anderson or myself will file the request with the Attorney
General to provide an opinion on the constitutionality of the Regents'
ability to issue this debt without the approval of the legislature.

--~--~---------~--~----~------------~-------~--~----~
State Representative Jason W. Murphey
Vice-Chairman Homeland Security Committee
State Capitol Building Room #400B
2300 North Lincoln Blvd
Oklahoma City, Oklahoma 73105
1(405) 557-7350 (Phone)
1(800) 522-8502 X 350
1(405) 962-7660 (Fax)
www.HouseDistrict31.com
-~----------~----~----~----~------~----~------~--~---