Texas Funds Formula One Race, May Fire Teachers [View All]

[DuaneBidoux]

Source: Bloomberg

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.



Read more: http://www.bloomberg.com/news/2011-05-11/texas-taxpayers-finance-formula-one-auto-races-as-schools-dismiss-teachers.html

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I'm a Houston teacher who just got laid off. But after the shocks I've taken lately I'm just numb.

PS: the headline is misleading, there is no "may" about the firing. It has started en masse here.