Teachers and school administrators are urging the Texas Legislature to dip into the rainy day fund rather than make cuts to the budget. These are educated people. Surely they know what a rainy day fund is.
A rainy day fund is for those things that arise unexpectedly. To use my household as an example, if my refrigerator goes out, I might dip into my rainy day fund. If my hot water heater bursts, I might dip into my rainy day fund. It's for those little emergencies that happen maybe once in 10 years.
A rainy day fund is not there just because I want to spend more money than I am taking in. For example, I would rather have a Cadillac Escalade than a Ford Focus. I can't afford the Cadillac payments, so I'll dip into my rainy day fund. Logic tells me the rainy day fund will soon run out, probably long before I've finished paying for the Escalade. Then what will I use when the refrigerator goes out? I may be reduced to an Igloo cooler, and I probably won't even have a car to go to the store for the crushed ice!
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