Our Legislators' IQ's

Our legislators never cease to amaze me. As my Grandma used to say, "I don't think they have the sense God gave a goose!"

This time it's the Texas Tomorrow Fund, or as it's now known, the Texas Guaranteed Tuition Plan. Starting in 1996, parents could start college funds for their children. They signed a contract to put in so much, and their child was guaranteed sufficient tuition (typically for 128 hours) when they reached college age. So a parent who put in $11,000 13 years ago now has a contract worth about $30,000 due to the steep increase in tuition costs.Of course, investments haven't kept up with rising costs, so the fund faces a massive $2.1 billion deficit. My question? Why did these idiots think they could invest this money better than the parents could on their own?

And here's the kicker. Under the original rules, if the parent cancels the tuition contract, he gets the adjusted amount refunded. Of course, that's changed, but they all have the opportunity to cash in their contracts before the change takes place. The 158,000 who enrolled in this program were brilliant. The legislators who came up with this plan are a little lower than the geese on the IQ scale. And the rest of us are the suckers who get stuck with the tab.

"Tuition plan to limit refunds." The Dallas Morning News; September 3, 2009; p. 2A