Times are tough in the Palmetto State.
Unemployment is at a 2-year high of 6.5 percent. Energy and transportation costs are soaring. As if that weren’t enough, South Carolina leads the nation in violent crime, primarily as a result of its shameful 55 percent high school graduation rate. The median family income in South Carolina lingers just above $52,000.
But not to worry, the clairvoyant and magnanimous leadership at the State Department of Education has a vision for navigating our people out of the storm: Massively subsidizing mortgages for public school employees.
Middle and low income taxpayers across South Carolina can sleep easy knowing that their money is helping to float sub-prime mortgages (30 years at 5.8 percent) for public school teachers earning up to $73,800 per year. In fact, the program provides for both newly constructed homes as well as existing homes up to $284,050! It also gives school employees $7,000 in down-payment cash to shoulder the initial burden.
This all encompassing devotion to the state’s prosperity and the people’s happiness deserves an equally magnificent and politically unassailable title. That’s why they call it “the Palmetto Hero Program.”
The impartial visionaries at the People’s State Newspaper have rightfully praised this benevolent system of redistribution and state leadership as essential for attracting “high quality teachers” to nation’s worst public schools.
While the average home in South Carolina sells for a mere $129,000, we know that hard working public schools teachers deserve much better! We only hope that lawmakers and “professional educators” in Columbia will consider expanding the program by removing all income and home price limitations.