Boozman Discusses Economic Woes With Springdale Students
Last updated Tuesday, October 21, 2008 7:41 PM CDT in News
By Rose Ann Pearce
THE MORNING NEWS
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SPRINGDALE -- Students in Advanced Placement government and history classes at Springdale High School had a lesson in the nation's financial crisis Tuesday with 3rd District Rep. John Boozman, R-Rogers.
"We really do have a serious problem," Boozman told about 200 students. "We got ourselves in this mess by encouraging lending practices to get people in houses" when they couldn't repay the mortgages, he said.
As the economy sank, Congress stepped in with a $750 billion bailout package.
"Hopefully that will turn the tide. The hope is to have a stronger financial institution," Boozman told the students.
The congressman was at the high school to participate in a special assembly to recognize the high school's participation in the National Math and Science Initiative. Springdale and Har-Ber high schools are among the 10 Arkansas high schools to receive funding from a $125 million grant from ExxonMobil to encourage students to take more Advanced Placement science, technology, engineering and math courses.
About 600 students are enrolled in Advanced Placement courses at each high school. Students in the International Baccalaureate program at Springdale High also participated in the assembly.
"We need more people who are innovators. We need you, people like you. You're the guys who will carry the torch forward," said Robert Lanyon, director of external communications for ExxonMobil.
During his stint in front of the classroom, Boozman also fielded questions on a variety of topics including the banking crisis, energy efficiency and the latest on a new economic stimulus package under discussion.
Bryan Jones, 17, said the issues students asked about were ones discussed in his Advanced Placement government class.
"I thought he would say what he said," Jones said.
Jones asked why the bailout money was put in the banking system instead of the people's hands.
"This is not a giveaway program," Boozman responded. "The idea is to get in, stabilize and get out."
Taxpayers could see a return on that investment because of the interest being charged, he said, noting the government made $450 million in interest when it bailed out Chrysler Corp. in 1979.
As for a new stimulus package, Boozman said, "My concern is where does the money come from. At some point the government has to live within its means and start paying its bills."
What's Up
Pat On The Back
Students at Springdale and Har-Ber high schools got a pat on the back Tuesday for their participation in the Arkansas Advanced Math and Science Initiative, which is part of the National Math and Science Initiative sponsored by ExxonMobil.
Third District Rep. John Boozman, R-Rogers; Sen. Mark Pryor, D-Ark.; Tommy Sue Anthony, director of the state program; Robert Lanyon, manager of corporate community and community investments for ExxonMobil; and Greg Fleisher, a director with the National Math and Science Initiative were on hand to recognize the students' efforts.
There are 66 schools in the U.S. participating in the program, funded by a $125 million grant from Exxon. Ten schools in Arkansas were selected last year for the program. A total of 1,200 students, or about 40 percent of the high school population, in Springdale are enrolled in Advanced Placement courses.
Source: Staff Report
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