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Schools owe million$ for small loans...

December 10, 2012 @ 2:00 pm

NPR's story on the inability of many California public schools to make decent decisions on obtaining loans suggests problems for the district in math skills, and I'm not talking about the students. It seems that the allure of additional federal dollar$ has led districts to make crazy deals to borrow a couple of million dollars to qualify for the "free" federal money. But like payday loans or credit card cash advances, the devil is in the details and districts (and taxpayers) are finding themselves on the hook for a whole lot more than they bargained for.

It seems everywhere we turn there is some public sector scheme of this kind. If the citizens do not demand accountability in our self-governing experiment, should we expect a correction or an acceleration of such destructive nonsense?

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  • Tubes wrote...
    Do you have to ask
    December 14, 2012 10:00 am
    How can you expect anything but an acceleration of such destructive nonsense, we are in the Obama years. There is no turning back!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }