Mathematics, games, politics, and life. The opinions expressed in this blog are entirely my own.
Friday, January 14, 2011
This was in the paper yesterday
"Even with a 2 percent a year spending cap written into the bill, Rep. Roger Eddy, R-Hutsonville, said state spending would be able to grow 17.5 percent over four years."
I looked it up, anda pparently it turns out that it's not actually 2 percent per year; it's actually 10 percent for the first year and then 2 percent for each subsequent year. But that still only adds up to 16.7 percent (it's more than 16 percent because of the compounding) not 17.5 percent.
2 comments:
I guess the cap isn't screwed on too tightly.
I looked it up, anda pparently it turns out that it's not actually 2 percent per year; it's actually 10 percent for the first year and then 2 percent for each subsequent year. But that still only adds up to 16.7 percent (it's more than 16 percent because of the compounding) not 17.5 percent.
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