Texas’ School Debt Crisis Explained

In this episode of The Miller Report: Real Clear Journalism, Maggie Miller and Jeremy Portnoy discuss his latest report that reveals that Texas public schools now carry more than $148 billion in bond debt—plus nearly $90 billion in interest—more than any other state. Borrowing has become the default strategy, even as student outcomes continue to decline.

With voters continuing to approve grandiose bond projects, critics warn the system may be incentivizing unsustainable debt. We examine how Texas got here, whether voters understand the scale, and what the long-term consequences could be. Portnoy's full investigation can be found here.