To justify ending Florida’s Prepaid College program — the largest in the country — Republican state Sen. Evelyn Lynn claimed the popular plan is, “a huge liability — far larger than pension, far larger than most anything we have.”
Nationwide, Republicans and tea party members echo the cry that because tax revenues are down, programs they have long targeted must be cut. Florida Gov. Rick Scott (R/Tea) is using the message to cut education funding and gut environmental and consumer protection laws.
But in this case, and so many others, Republicans are simply making stuff up to bolster their flimsy logic.
- The Florida Prepaid Tuition program has $10 billion in assets and $9.5 billion in liabilities
- For those able to do math, this means the program is running with a $500 million surplus
- Two years ago, Sen. Lynn herself floated the idea of raiding the Florida Prepaid plan to fund other initiatives