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Pennsylvania Schools Start New Year Broke With "Minus $1 Billion" In Funding
While the markets had a brief, if historic, limit-down hiccup earlier this week, even if Black Monday is now long forgotten and stocks are mostly in the green for the week following another epic round of central bank intervention, yesterday the Pennsylvania Association of School Business Officials announced something far more troubling: Pennsylvania schools are starting the year "minus $1 billion" in funds.
The reason, as the association announced, yesterday was "the day that schools should receive more than $1 billion in state subsidy payments for Basic Education Funding, transportation payments and employee benefit reimbursements appropriated in the new state budget. However, the state budget impasse has prevented this state funding from flowing, creating financial uncertainty for school districts across the commonwealth."
In other words, absent state subsidies, the entire Pennsylvania educational system may collapse. More:
“With a state subsidy payment expected each month, more school districts will incur additional borrowing costs for loans if the budget impasse continues,” said Jay Himes, PASBO executive director. “The $1 billion in state funding that school districts will not receive will be particularly painful for less wealthy school districts, and it will only get worse. Every month of missed state funding will see growing financial pain by school districts, intermediate units and career and technology centers, creating real consequences for students across the state.”
It's not just August: as the following chart shows, unless the already insolvent schools are overfunded, in a few months the entire school system will be mothballed unless teachers accept payment in good will.
So as nobody knows how long the impasse will continue, what will PA schools do? Why borrow money of course.
The PA Association of School Business Officials (PASBO) conducted a recent survey of members asking about the impact of the state budget deadlock on their school districts. The 171 survey respondents indicated that in the absence of state dollars, school districts are looking at short-term borrowing and delaying expenditures to supplement the use of reserve funds during the impasse. These measures have allowed and will allow schools to open on time and minimize any immediate effects on students.
The majority of survey respondents—83%—are using fund balance or may use fund balance to cover the lack of state subsidy payments, while half of survey respondents said they have borrowed or are considering borrowing to avoid any cash flow difficulties.
Many other survey respondents have delayed or are considering delaying payments to vendors, facility maintenance and filling vacant positions.
All of this is sad, but could have been avoided: if only these schools had mortgaged their buildings and used the funding to BTFD, they would be set for the foreseeable future. Instead, now they may have to play the systemic risk "bail out" card, however since the destructive potential of not even once collateralized school children is negligible, we doubt anyone will care. Now if banks ever find themselves in this situation, it's a different story...
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But the Lottery?
Strange. 95% of my property tax goes to the school district in eastern PA.
You just thought it did
Your property tax goes to the State, then the State holds that money hostage, while continuing to fund every other program, so that they can cause a crisis to expand the scope and reach of government again.
same holds true with 911 funding, police, fire, prisons...you know all the basic functions of government. Never will you hear that Welfare department is withholding payments, or that bureaucrats are layed off while the money hostage scenario plays out.
That's not how it works- at least not in PA.
In PA about half of the total cost of running the schools is funded by local property taxes that are COLLECTED AND HELD LOCALLY. The other half comes from the State.
Those are just aggregate state-wide numbers. This ratio varies dramatically from district to district.
In affluent areas, like where I live, since we are all billionaires or better, the amount of local funding through property taxes covers the vast majority of the cost (or all of it). In poor areas where lots of people live that we don't care about they rely MUCH more heavily on State money.
The PA budget shut-down won't affect the public schools where my kids go because we are fully self-funded. In Philly, Chester, Harrisburg and poorer rural communities out in the boonies, this will become a problem for them very quickly if the State Spice doesn't start flowing soon.
My son brought home a "fund-raising request" from his school last week and gave it to Mommy. She and I were discussing it and Mrs. Meat said "the school gets enough of our money. Maybe they should learn to budget better". Unbeknownst to us, my son overheard this....so, a couple of days later, when his teacher asked if anyone brought in their fund-raiser envelopes, my precious 7-year old repeated his Mommy's comments verbatim. He let us know of this occurrence that afternoon and we laughed and laughed and laughed. We asked him what his teacher said, and he innocently replied "I dunno, I wasn't listening. I'm 7."
Good boy.
Fuck the government and their "for the children" theft.
Meat
I was intimately involved in the entire educational system decades ago when my kids attended school.
I will forevermore remain livid at the self-serving actions taken by so many ... all the while holding the kids as hostage in attempts to extort more money.
There were decent, hard working people involved throughout the system to be sure. However, their efforts were always overwhelmed by the lazy, piece of shit motherfuckers who constantly bleated 'We need MORE!'
http://slavyangrad.org/2015/08/01/war-in-our-time/#more-6227
A few years ago, after we moved into "a good school district," I had a similar conversation with a teacher.
Told her that the schools steal enough money through taxes, and if they don't they should steal more, and so I will not participate in their "fundraiser."
By the look on her face you would have thought I had just offered to buy for sex one of the students.
Which brings up "entitlement." People always hang this moniker on welfare recipients, but no one struts around more indignantly entitled than a government parasite, even teachers.
Zion is a scheme, not an ethnicity..
And thanks to the housing bubble your property taxes go up for no reason whatsoever. Oh, and if you have a cheap mortgage but you're still considering dumping your house for a profit to avoid being gouged by property taxes you can look forward to an atrociously high monthly rent on a residence that is half the size of the house you just dumped, effectively eating all of your profits from the sale of your house.
Nice little circle jerk the banksters and .gov have going on. Heads I win; tails you lose.
These children have had a free ride long enough, it's time to start charging tuition at grade schools. If they can't afford $100 coloring books then the student loan program will bridge the gap. Payments on loans can be deferred until graduation as long as the student gets an adequate number of gold stars and isn't caught running in the hallways. Otherwise, payments will kick in early and employment will made available at the school's blood and plasma center or munitions factory.
Every god dammed teacher in the country should be using Public domain and other free texts wherever possible. This is the real evil of common core.
"Billionares or better"?!!
Did your hyperbole dispenser slide off scale there for a second?
The eachers need a aise 85K is not enough
AND WHAT ABOUT THE KIDS?!?!
Now they'll never learn a foreign language....
Learn basic math skills...
No geography...
History....
the kids will learn more out of school than in it
Hooking and pimping shouldn't be a lesson..
Truth.
That's the average pay for teachers in my school district. They are part of the public teachers union, obviously, and want a new 3-year contract with 9% raises per year all three years (and if there is no new contract approved after that the raises of 9% per year continue forever). And, of course, free health insurance. No teacher contribution, no co-pays, no nothing out of pocket.
The teachers union lost in 3 separate arbitrations but won't back off their demands AT ALL.
So.... we told them to fuck off and the old contract continues to run with 3% raises per year and very modest health insurance contributions required by the teachers.
We may never have a new contract again. When the locals (me and my neighbors) are funding 100% of their local school costs you keep an eye on these costs much more so than in a school district where the State is picking up most of the tab.
Yup. Once the community gets removed from the equation it turns into a free-for-all. The marble floored, mohogany lined department of education buildings start construction the very next day!
Nodebt
The semi rural school district my kids attended years ago gave the striking teachers a four year contract with 10% raise every year. Although there were 22 job-seeking new applications for every existing teacher position the school board rejected any thought of hiring 'strike breakers/scabs'.
Funniest/tragic aspect of the whole farce was salary was NOT the sticking point in the dispute ... health insurance payment was.
Seems many teachers had spouses who also taught. They were all being doubly covered by family plan policies that the unions refused to modify.
Fuck them and their 180 day per year work schedule.
Thats those pensions from the last 30 years,the new hires aint makin nothin ,,,,the people i know who are retired 20 years older are livin large,,,,,they assure me that the pension guarantey corp will pay their pensions if PA cant,,,,,so i guess that means they will just print the money for them
"Going to the school district" is different from the money being spent on education.
Kids are better off home schooled and the taxpayers save money too.
Exactly 44.59% of my tax bill goes to the schools..and my tax bill just went up $10 a month thanks to a "special" bond bill that passed because no one knew about the vote...only the teachers and construction company voted and it won with 85% approval!...school needs ultra high tech LED lighting for the football field at a cost just short of a MILLION DOLLARS!
Nothing wrong with the old lights, just not "cool" enough to brag about..hey it's my money, so why not buy the best!
ANother local school..football coach is 3rd highest paid employee...$75K a year...in an area with a median income of $28k...football team sucks too...a 50/50 year is a good one for them...
That is not what the lottery was for, the lottery was just a means to cut normal allocations from state education budgets because there was an external offset coming in. If you do it for long enough people will forget what your original priorities were.
Weaponizing public policy never goes out of style.
bring back that slimy kike Ed Rendell, he'll fix everything! just like last time!
How can this happen in a roaring economy will low unemployment?
It's the magic of crony government and no matter how broke they are, the 'right' people still get their paychecks......
And full salary pension, too, right?
Yeppers, and soon dacha's in the country and handbuilt limo's to get them to work.....
This plan to add more debt is approved by Paul Krugman. Asshole.
Yes... it is interesting how Krugman says the solution is for governments to take on more debt but he somehow neglects to mention the caveat that if your relative power is decreasing within your currency union all this will do is kill off your nation. Just ask Greece how this works.
The last time I checked the US government was losing this relativity battle with its financial system.
I would write them a check to cover the deficit if I knew my kid was going to get a quality education, not an indoctrination. So to hell with them.
If you can write a good check for a billion bucks and you only care about your child's education... then I strongly encourage you to pull your kid from public school and pay the world's foremost experts in every discipline to privately tutor your child at a fraction of the cost.
Damn Janet! Turn those printers back on! It's for the kids!
Money does not equal education.
But I thought if we spent money on the Bush family educational software the little kiddies would be able to live the American Dream.
Living in PA and following this story as I do, I honestly can tell you, this is all the doing of the Republican-misled legislature, which just would like to see our school system whither on the vine and die.
Governor Wolf is unlike any other politician we've had - in that he is a businessman, not a career politcian. He underestimated the hate that the GOP really has for our children, and for non-corporate people in general.
The GOP would be happy to replace state-run schools with private/charter schools. There is more money to be made by fewer, well-connected people, so there's the reason for the impasse. Oh - and they're just fucking assholes, too.
Your an ass...Why throw good money after bad? Whats the graduation rate?? How many graduates can read? Its morons like you who fund shit that will never work who are the problem
Look, I don't have children. I really could care less if anybody's idiot offspring knows how to spell their own name and count to two.
But, we're supposed to care about the children, and everything we're to do is to be for the children. They are, after all, our future.
Somebody has to educate them, and somebody has to pay for it.
What's your solution?
Yea, it's always about the children until that little son of a bitch smokes a joint at 12 years old...
The little bastard should've stayed out of my stash.
You are being humorous and sarcastis, right?
My solution is to have the breeders educate their own brats. Personal responsibility is a bitch.
Unfortunately with all the hand outs and bail outs, there is no personal responsibility. It's crazy.
They do anyway... the schools do little or no educating and the nuclear family (as broke dick as it may be in most cases) is still the supreme teacher for many things that determine our abilities to succeed. The only difference with the present is that you have a lot of babysitters that consider themselves indispensable members of society, doing gods work for satan's pension.
Tsar
If you are in PA and follow the goings on, then I assume you know that the current, proposed budget added $200 million to last year's budget.
I also assume that you are aware that recent proposals ADDED to that figure .. this emanating from the Republican dominated legislature.
Democrat governor Wolf has rejected this as he wants to initiate a severance tax on the Marcellus gas drillers.
While the media repeats the canard that it is 5%, the conditional wording would effectively impose a far higher rate.
That is what this is all about.
"What's your solution?"
Private schools with strict regulations...no cherry picking of "easy/rich" students while excluding special needs and/or poor kids.
Yeah I'm a dreamer...not about private schools, but about private schools not, eventually, excluding the poor/difficult students because they're not as "profitable"...
At the classroom level, the public systems works amazingly well...where it FAILS badly is in the "administration"....GROSSLY OVERPAID morons sucking all the money out of the classrooms is the real problem...if you want to fix/improve the public education system, start cleaning house from the TOP DOWN!
If you want a preview of how private, "for profit", k-12 schools would play out...take a good look at "for profit" colleges...
Absolutely, when K-12 students get funding by govt backed loans.
The Gov would definitely , eventually, start giving/loaning money to kids for K-12...and not because those bastardly "Liberals" like to give away money...nope...the Gov would get involved because PRIVATE corporations would "Lobby" for PUBLIC FUNDING of PRIVATE schools to "ensure everyone gets a good education"...not my opinion...it's history folks!
What's your solution?
Look at the curriculum.
Eliminate anything that doesn't have to do with learning how to read, write, do math needed in the real world (as opposed to the academic world), and for sure, teach the kids how to learn by and for themselves.
I submit that if you do that, you'll free up 2/3 of the time kids waste in school. You'll free up 2/3 of the teachers. You'll free up almost all the administrators and consultants. And you'll get by with 1/3 of the buses and buildings.
And you know what? "All" kids will come out knowing how to read, write, and do math. This is because you won't be boring them to death with all the other nonsense ... like propaganda and indoctrination and history that isn't so.
And what will kids be doing with the 2/3rds of the time freed up? They'll be interfacing with a real world that presents them the problems they "will be" learning to solve and questions they "will be" learning to answer.
For too long, education has been about loading students up with solutions ... then turning them out in the real word to find the problems. It's much easier to learn a solution once you have encountered the problem yourself.
Free up 2/3 of the kids time?
Are you shitting me? How are the deadbeats supposed to have EBT shopping time and a break from their little shit brats?
They deserve free babysitting, it's a human right! It comes with free indoctornation too - to perpetuate the retarded circle jerk the humans been at for millenia.
Are you shitting me? How are the deadbeats supposed to have EBT shopping time and a break from their little shit brats?
Collateral damage. Too bad their parents didn't have proper education. They wouldn't be deadbeats. And you have to be brain dead not to see the obvious ... that the outcome of child rearing is more about nurture than it is about nature..
I used to eat lunch at a Burger Kind across from a school. The kids on "free" lunches would come in and buy food because they did not like the school crap. Evidently their poverty did not extend to their diet. It occurred to me I was paying for the lunch left in the cafeteria while these poor, often fat kids suffered in Burger King.
"Your an ass...Why throw good money after bad? Whats the graduation rate?? How many graduates can read? Its morons like you who fund shit that will never work who are the problem"
Ha ha. No, 'you're' an ass and it's 'it's' not "its" - as if you even know the fucking difference.
Back to school for you (moron).
By the way, does anyone know how much money from the collective school systems/pensions was "lost" in 2007/2008 and which banks/hedge funds "lost" it? Anyone? ... crickets ...
Oh, ohhhhh pick me! Pick meeeeee!
Tsar :.......Hate that the GOP really has for our children
Wouldn't have any fucking thing to do with don't spend money you don't have... right?
You know, the ole' 2+2=4 stuff?
naaaaaaaaaaaaa.
Guess what, ya got no money. There fore ya can't spend it.
“Education is what remains after one has forgotten everything he learned in school. It is a miracle that curiosity survives formal education. ” – Albert Einstein
“School is the advertising agency which makes you believe that you need the society as it is.” – Ivan Illich, “Deschooling Society”
If they closed down the public 'schools' maybe kids will actually be educated.
You are a fucking idiot, nothing more.
Wolf is a lowlife businessman and Tribe member. His word is worthless. Sold his business. 100 employees list their job. Comes back and buys for $10 million less. Strange that $10 million is Just the amount he used to buy the governorship. Then he sells his share in wolf again as governor in a "blind" trust. Wolf on Sheeps clothing. And I'm hunting wolf !!!!
If it was HIS business and HIS money, how is this YOUR business?
Just stating Facts and adding some personal knowledge as well. Do with it What you want. He endorses Hillary just in case You want to vote for her too.
Craig Danielson Is that you ??!
Public school systems are just more of the same... big, bloated, government boondoggles that are slowly going to reach further and further into the pockets of taxpayers to cover thier failing pensions. There is no R or D about it.
What's your solution? Home schooling, so every idiot can spout their idiocy to their idiot offspring? "You see, my child, the Jews are the cause of every strife known to man. It's our duty to exterminate them from God's Earth so He can come back and save us in the glorious Rapture!"
I'll take the home schoolers heads being filled with that stuff over their heads being filled with the tenets of the public religion: humans are killing the earth, guns are bad, government is good, mindlessly obey authority, don't learn to think - just learn to regurgitate, etc, etc.
lol. The scary thing is that the in the process of the system falling apart all sorts of screwed up things are going to happen. From crazy-ass homeschool cults to predatory private institutions.
Unfortunately, the current public system could give a crap about the kids. It is only at the hands of great teachers within the rotting system that the kids sometimes get what they need. And more often than not the good teachers have to break the rules to make it happen.
The real tragedy is that there isn't any good solution. The system is just going to need to break down. After that, hopefully it gets more local. Like most everything else... it is all tied together. The madness in the economy, loss of community, reckless pursuit of material things, etc.
And that's worse than some idiot teacher with a chip on her shoulder turning generations of helpless children into mindless drones?
I suffered the evils of public school. There, I said it, evil. They took my young brain and did their very best to turn it into non functional soup. It's taken me the past 10 years to undo the damage, and I fear I will never be done.
My kids are in high-school and I have seen the circus of teachers. The good, the bad, and the clinically insane. Long ago, communities would run nut-jobs out of town. Now, we don't even have communities any more.
I moved into my area partly because it is different. The schools are better because of parent involvement despite the fucked up system. And you want to know what the system does when it sees this? It tries to kill it. In the infinite wisdom of the nut-jobs that have risen up to ivory towers of education, the school system is one massive social engineering petri-dish where they think they can play god and assert thier fucked up dogma on the masses.
You are a fucked up union moron... just saying.
Gee, it couldn't be that Wolf is pulling an Obama and throwing a stonewall tantrum to extort from a state assembly his party doesn't control...while blaming them.
Speaking of Obama, all the whining about "cuts" Wolf used during his campaign was actually about failing to pick up the same funding level they got back when Obama was handing out that phat Porkulus cash back when he stil had to buy votes. Spending went right on ahead as if that hand-out had become a permanent entitlement.
Guess what: it isn't.
People like you who see things as red team VS blue team are the real problem with today's society. News flash: They're all screwing you. BTW, just as an aside. If the democans love the children so much, why is it they are so eager to abort them?
You're a fucking moron TP. Wolf is so incompetant that the budget he submitted was opposed by both parties it was so bad. He has no idea what he is doing in his new job and little to no evidence he had any role in running his business.
Low gas prices will solve every economic ill in America. And destroy the demented mass-murderer Putin.
Forward
UD debt rose from $60 trillion in 2003 to $210 trillion in 2014. A $150 trillion increase in 11 years - or $37.4 billion a day per Kotlikoff
Just a heads up guys I live pretty much rural area , but lot wealthy here on my rd , they are gating up thier place South Africa style. Just a FYI
Shemitah style?
Just wondering if this is one of the schools among tens of thousands that bought students Ipads and other such useless bullshit.
Harken back to the days Of Kelly Johnson running Lockheed Skunkworks , who designed the Sr-71 with slide rules and drafting tables.......and pencils
https://en.wikipedia.org/wiki/Kelly_Johnson_%28engineer%29
How did they ever build that without I fag stuff?
Oh yeah, Lottery was going to solve our education funding issues. Pennsylvania has amateur status compared to Illinois. This State is so broke it cannot even pay the Lottery Winners . Chicago Tribune reports today:
BREAKING NEWS Illinois Lottery to winners: We'll pay you when the state has a budget Matthew WalbergLottery officials say that because lawmakers have yet to pass a budget, the comptroller's office does not have legal authority to release lottery winnings of more than $25,000 and winners are getting sent an IOU instead.
It's gonna get hard to sell tickets if people find out the schools are totally broke and dysfunctional anyway -and more importantly: that the 'Winners' don't get paid...
It's going to get hard to sell the current society when the oligarchs are found to have no clothes on as well.
the 'Winners' don't get paid...
Too funny. I suppose they could send them a Participant Trophy and a card saying Thanks for Playing.
Schools have been "broke" nearly my whole life. I can rarely remember when they are not needy, deperately needy, in dire need, or critically underfunded. Their product sucks all around. I will assert it sucks in the inner city and in the nice suburbs. What matters are the parents and local community. Good communities produce a better but not great result. What is shows is that government is actually NOT greater than the people or community it serves.
Also, government has no business model whereby it can or ever will balance the books, at least not for long. It is a demand system where demands are placed on it without regard to funding, results or structure. A business must always have happy customers. The market sets the parameteres and forces cost efficiencies over time. All positions are constantly reevaluated.
Government schools, the VA or any other agency you can name are not financial disasters by coincidence. It is the nature of government and it cannot or will not change. The only option is to stop asking government to do stuff. Dissolve the VA into the private medical system and almost all the problems will be quickly fixed. Privatize or at least voucher-ize schools and most everything will be solved in a few short years.
But, the lemming-sheep-cattle keep believing in the genius, caring and moral superiority of government. Of course, they were educated in government schools by lefty teachers who also started in government schools.
' Education ' is such a scam in this country. Since at least back to the early 1900s, it's objective has been to dumb down the populace. (Research John Taylor Gatto). - For this crime, the minions in the 'education' scam are paid ridiculously high salaries, given great benefits & pensions, and lots of vacation time. (All of this is in comparison to the salary/benefits of the general populace paying for it all.)
"It is a demand system where demands are placed on it without regard to funding"
It's a debt system where people are treated like cattle to feed the .1%, without regard to human life.
Just putting the shit storm coming our way into a neat and tidey core focal point.
My absolute favorite is the "grief counselor". When some school disaster happens they deploy the grief counselors. What the hell is that? Is it a degree, a psychiatry minor? Does the college counselor double as a grief counselor? What type of training do you get? Are their thousands of these around the country on a stipend?
I suspect there are a lot of stupid things and people living off the system in the gray areas.
Sell your assets to the muni bond pirate.
Easy. JPM can loan them the money. What could go wrong?
Just have the Fed pull some imaginary money out of their ass
Why is it that the areas with the highest property taxes have the biggest budget shortfalls?
Largest funds attract largest parasites and grifters.
Here in Michigan, the amount of State funding is based upon a head count of students in attendance on one particular date in the early Fall and then again in the early Winter. Stories abound about the schools promoting pizza parties, free cake and ice cream, and even $20 Target gift cards on head count days to get the kids who habitually skip classes to come in and be counted.
http://www.michigan.gov/documents/mde/2011-2012_and_2012-2013_Student_Co...
I remember when they did this every year. I think i remember being bribed with ice cream sandwiches one year, they would also send out letters to our parents making sure we were in pris...i mean school that day so we could be counted.
Quite a business they have going here.
Kids go to government schools, raised by lifeless robots of teachers. Parents can't afford to stop working because of all the taxes they're required to pay whether they use the schools services or not. Kids are taught this type of thing is normal by their lifeless robot teachers...cycle continues.
This is the same reason principals will refuse to expel a student until they become a safety liability.
That little ass in the chair is a basket of cash.
I bet those were the only days, Obama and his buddies showed up for school.
And I wonder why his college transcripts are sealed. One can only speculate.
Anchor babies are great for teacher pensions,
There are people on the Philadelphia School Board who make more money than Governor Wolf.
In my town, the local school board has helped themselves to a 4.1% raise EVERY year for the past fifteen years! I have NEVER gotten a 4.1% raise and I happen to be very good at what I do.
Fuck the Goddamn public schools and everyone who works for them.
hence your coming sovereign debt crisis BOOM
Not to worry. In a year that billion will be the price of a good burger....the Fed is on the way.
There is no way the USG and Fed will let this steaming pile go down in a deflationary collapse. Hyper Inflation...FTW!!!
Funny thing about PA; you know you've enetered the state the minute you cross the line with the potholes and falling apart roads keep you awake.
The worst roads in the country maintained by the worst unions in the country
America begins here.
Harrisburg is famous for its sinkholes.
Did you mis-spell stinkholes?
The budget impass has all the social service providers scrambling as well.
Keystone State.
The republicans were bad, Wolf will be worse.
The teachers unions and their pensions are bankrupting our country and educating our students with the wisdom of such things as 'micro-aggression's'
PA, more property tax coming your way soon - for the good of the children.
Way too much money being spent on "Administration" type jobs.
In Duval County, FL the school board building is like a castle, sitting on prime real estate, on the St. Johns River! WTF?
I thought schools exist in order to "educate" kids. This hasn't happened in decades.
Duval County School Board has it's own police force for God's sake! WTF? Since when does a school board need it's own freaking police force? And the school cops can prolly retire at age 40 with 90%-100% of their last years salary!
This is NOT sustainable!
I live adjacent to Duval. Didn't know that about the school borad building. Thanks for the heads up.
Government at it's best. Once it reaches critical mass, it is just a matter of time before it explodes. The tipping point is when the system gains leverage over the community. We past that point long ago with public education.
Wait till they pull guns on you at the annual bake sale fund raiser. You WILL buy those home made cakes at premium prices. Remember, it's all for the kids...with the help of a guy with a baton.
Good. Death to Indoctrination Camps!
Bring in Walt from Breaking Bad. He will cook the district back to financial health
They should have an IPO.
Anyone else live in or near Pittsburgh? We should grab a beer. I know more than a few around here who are pissed off at the Fed. We can always use more friends!
I live in PA. The school districts are by far the largest employer in my county and the county government is the third.
When I discussed the trend of elderly selling their "owned-outright" homes due to increasing school taxes...the teacher said it was a shame but if they did not save enough to pay the yearly taxes then they deserve to loose their house. He clained that he earned his high $ pension.
The teachers, school administrators and county full time employees are the best paid jobs here as well so it will not surprise me to see the county broke soon.
Note that my wife and I home-schooled our 5 children for 500 a year and up to 1500 a year through junior/senior High School years. My kid's SATs were in the low 1300's on the older 1600 scale. It does not take a fortune to educate a child well - let alone 5 children.
The school district also had pressured us to register our children with the school district despite us home schooling them. They wanted to maximize the federal matching funds to them for various programs. We told them to shove it.
What if we securitize the children who frequent these schools and we trade them based on performance.
I'm sure the unions will be all for it, after all they don't teach anyway.
If you don't eat yer meat, you can't have any pudding. How can you have any pudding if you don't eat yer meat?"
I have a small business, own a home, pay taxes out the wazoo, and I still get asked if I offer an additional 'school discount' during the course of a sale....
I of course say FUCK NO!
I agree with Martin Armstrong. The crash in government at all levels must happen before any of this shit changes. I live in the wonderful village of Philadelphia, Pa. Shithole of the State of Pa. The public school system here hasn't been useful since Truman was president and the Charter schools, which are supposed to be "elite" and so much better, still have the heavy hand of the assholes in the school district controlling them.
Department of Education needs to be closed and scraped, hand the schools back to the city and towns and let them deal with it directly.
So teachers will be expected to work for free until things are "fixed". And they probably don't realize their unfunded pensions will never be paid when the market crashes and burns. And what is funded in their pensions is invested in the fraud market. And finally in order to meet the school needs temporarily while things are allegedly being fixed schools are borrowing "money" from the same industry that drives and runs the fraud market.
And outside of prisons where else do they regularly perform "lockdowns"?
http://www.pennlive.com/politics/index.ssf/2015/03/pennsylvanias_pension...
Do they teach logic in school any more? Or is that now considered child abuse or terrorism?
Indeed, let's see a breakdown of those "employee benefit reimbursements."
Why are all govt employee compensation data not made public?
As my evil stepmother used to say (before retiring): "K-12 is the best part-time job in the world."
What schools throughout the US are facing is an INFLUX of immigrants, legal and illegal. Schools are bursting at the seams.
Border Surge Drives Up Enrollment in NYC Schools
And unlike in times past when Poles, French, German, Norwegians, Danish, Swedes and every other White immigrant that were not native English speakers the kids just LEARNED English, there were no tutors, no bilingual, no special hiring of the particular language, the teachers spoke ENGLISH ONLY.
Now that is gone with the wind.
One school district I believe in Virginia has not only Spanish speakers but Indian dialects from Mexico and elsewhere that requires SPECIAL translators and assistants. Great boon for people of color in employment.
And ALL of them require GIMME DATS. And LOTS of it.
Of course immigration has much wider implications:
U.S. grads settle for lower pay amid influx of foreign tech workers
FACEBOOK bars posts showing immigrants taking jobs from Americans
Judge orders prompt release of immigrant children from detention
MEXICAN CARTELS RUN ARIZONA DESERT...70 Miles Inside Border...America Doesn't Have Operational Control of US Territory
QUALCOMM lays off locals after applying for 'thousands' of foreign workers
Kansas City mayor brags: Our white population plummets
62 Languages Spoken in School District
CENSUS: 1.24 MILLION MORE LEGAL IMMIGRANTS TO ENTER USA IN 2015
Nice one Laddie. My older sister teaches remedial classes to (mostly) future gang-bangers in So. Cal. She is 65, very smart, very experienced and so sick of what is going on.
In NJ they pay the school superintendents about $230,000 each, so of course there's over 600 school districts statewide. That's 138,000,000 per year that's not going to the kids. Nevermind the fat pensions, bennies and perks they're booking, not that Christie was going to make the funding payments anyway. Government magic at it's best.
“With a state subsidy payment expected each month, more school districts will incur additional borrowing costs for loans if the budget impasse continues,” said Jay Himes”
Private Banks manufacture virtually all credit money supply, about 97%. They create this money during hypothecation event, where a debt instrument is made and its mirror of credit is made simultaneously.
A bond is a debt instrument that can be put on banker double entry ledger to then create new credit as money.
Said bond will then demand its credit “back” over time as loan is paid down.
As most everybody knows, bond demands more back than credit that was created. Hypothecation mirror does not reflect perfectly as credit as money will likely not be available in future. The exponential interest rate function underlying debt instrument forces banker credit as money to disappear.
This usury mechanism is now harvesting the commons. It is a transfer from the many to the few via finance usury, and now a few Oligarchs want to own and privatize what should be public. Power corrupts, particularly when it is sneaky hidden rents via finance and prices. The hidden hand is a pick pocket artist.
Originally, in America commons were funded by deficit spending from Washington. This deficit money created debts that were never recalled.
Washington would make a bond, and it would end up being monetized by the FED. Public money vectored into clean water, interstate highways, public education, new hospitals, better ports, sewers, etc.
Never recalling public debts mean that “credit” created is floating money (FM). FM cannot be recalled except with taxes and hence stays in money supply. (Tax money is usually re-spent, making a pumping action to thus stimulate demand.)
This public debt money then goes on to become private savings and a permanent low cost medium for transactions. This type of money is a three-fer, it improves efficiencies in commons, and it makes for savings, and allows low cost transactions. The FED rebates interest to Treasury on public debts, in what amounts to an elaborate shell game, so deficit spend money is low cost and hence a doppelganger for debt free money.
The commons were made more efficient and paid for by public spending provided by our ancestors; and now privateers want to commandeer it for oligarchy – to take a free ride and have a free lunch.
However there is no free lunch, it is a transfer – a parasite sucking the energy from the many.
Note that commons are also inelastic markets, and that is THE location where government is lowest cost producer. China for example, is spending public money on high speed rail, new airports, and other things that will help improve their commons, and then efficiency. In meantime, America and West has to borrow their money at interest from commercial banks, thus doubling costs in many cases. It is like running a race with weights on your ankles. Or maybe a better analogy would be a vampire sucking life energy of the producers.
Lowest cost production in commons has knock on effects, as private market has its “overhead” costs taken care of in the most efficient way. All of the infrastructure that allows markets to function in many cases were produced and created by public money intended for the commons – for example DARPA money helped seed the internet.
Overall costs of production go down, and hence wages can go up. A highly educated and well nourished former American population was able to out produce its competitors. Foreign economies who didn’t behave similarly, and who were underfed and undereducated, and who did not have machines, roads, etc. could not compete. Public/private mixed economy was actually the secret of American wealth.
But, today, privatizations of the commons means that even school systems do not get credit to operate; they must go to the damn bankers like a beggar.
The idea is to grab all land, and foreclose when the debts cannot be paid. And of course debts cannot be paid because their credit mirror is never perfect due to usury and vectoring problems.
Also, since land is not taxed properly, then what goes untaxed is pledged to banker. Prices go up on land in bubbles, and that means that people’s wallet money vectors away in debt service. Paying debts to a banker is a wealth transfer. 80 percent or so of money supply relates to land, so prices are bid up. Taxes land on labor rather than land or capital.
Private Banks reserve loops are networked on overnight markets to point to Wall Street (New York FED), so actually by un-taxing land; it is part of mechanisms for transferring wealth to Wall Street finance oligarchs.
Schools don’t operate, but Wall Street does.
sovereignmoney.eu
Who says localities can't print money? Um, can we say Pension Obligation Bonds? They are working splendidly in Chicago, Detroit, the states of Oregon and California. Just issue some pension obligation bonds, you dumbshits! Do I have to think of everything?
What's that? You already have pension obligation bonds? Well, issue some moar!
It's for the kids!
" Just issue some pension obligation bonds, "
Do you mean 'issue' as Mefobills means -to emit the funding outright into the pension system, or do you mean to 'issue' debt instruments which can only function if exchanged/sold for money at a particular rate of interest?
I'm pretty sure I know the answer but would appreciate clarification as to the particulars of your suggestion..
Since when did you need a school to teach a child to read.
All learning happens outside of the classroom.
MEFO, nice post!
Better have a fund rasier quick!
Buy a candy bar for the school district?
are you insane - you will be arrested - say buy celery or lettuce
Sorry, no can do. Moochelle Obama banned those.
Occupation of Iraq cost over 1,000 Billion dollars! The school is short 1 billions. Anyone see the irony in this?
The Donald is going to get the 1,000 billions back from Iraq for services rendered, and then some. ;-)
isn't this the way is suppose to be in the new USSA? everyone in massive debt with no savings, just following the horehouse & district of corruption example?
And yes, Mexinvasion is also part of the Wall Street/Credit banking mechanism.
Mexico was busted out at least three times since 1960, with Peso devalutations.
Goldman Sachs employees were overheard and it made the news...they were patting themselves on the back at their harvest.
It is well known that 1965 immigration act was funded by Jewish private banking money power, to then overturn the former 1920's restrictions.
Bear raid bust out mechanism is described in Perkin's book "economic hitman."
Ultimately a population ends up with no means of producing wealth as the means are owned by the few. Mexico is an oligarchy, and the oligarchy was sped along by Wall Street Finance and FX manipulations. Is Carlos Slim now the richest man in the world?
If people want sovereign nations, then they have to have sovereign money. No democracy can exist when the money power is non-democratic. It is a mismatch, and money power always wins.
Private Credit Bankers are networked worldwide, and population migrations are part of their plan for humanity. Thir credit system also requires it, because if there are dislocations somewhere, SAY GREECE, then a population has to Emigrate, while Oligarchs move in and dismember the former country.
Poland and the former Baltics are other examples of countries being busted out by finance.
Russia was on a path to be debt harvested, dismemebered, emigrated and immigrated, but Putin stopped it.
So, public schools worked in past, but not now.
Public schools used to be the lowest cost producers of education.
Mom's, who didn't have to work, would volunteer their time. The economy was not completely monetized and had high levels of gifting.
The monetization is a function of interest/debts, where the debts always grow inexorably This then means that more and more of the economy must be monetized.
A forest becomes only so many board feet of lumber, to then convert to prices, to then grab money, to then pay debts.
The parasite has metastasized into the brain, high taxes are a symptom not a cause.
The Jewish financial credit system, where debt = money, has fraud buried into its structure, and any system will predicate an output.
Revolution or debt slavery . take your pick.
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Zion may be a scheme, but Jewish world government and Cabala existed long before Zionism.
The Red Shield Menace fully owned and controlled Britain by early 1800's especially due to Usury out of Bank of England, privatized by Amersterdamn Jewish Capital in 1694.
As early as 1666 Sabati Sevi was talking about taking over the world. Khol Niedre crypto invasions into Catholic Church were evident in 1100, and on and on. All of these maneuverings are to take rents for an in-group.
Zion may be a scheme, but Cabala and secret societies (Zohar) are the Grandfather. All of these schemes require some sort of rents out of finance.
Jewish finance in the Levant included taking rents on metal exchange, and hence the Caravan routes were controlled.
Today the metastization, is a function of finance, so Zion cancer has grown to take over the body.
The money system has to be changed to defund rent takings and parasite mind control.
This is a desaster! How are the kids to be indoctrinated?
Used to live in NE PA - challenged my property taxes every year. Always rated the house much higher that what I paid. Big rip off
And the race to the bottom continues to accelerate. Pass the fucking popcorn.
They got the 5%er capitalist pigs with just over broke jobs, tax them, get grandma on property taxes,
that will work the old 5%er tax and terror class warfare dialectic.
They have to educate them all, for 3% to make it into functional jobs that create 100% of the gdp.
20% of the other are in political prison, on municipal tax. About 3 out of 100 make it into empire.
The federali pig ignorance de-education actually imbeds into the dna generationally. It would take generations
just to cleanse satanic orwellian law of opposite lying de-education out of them if you started over.
Curious it was Chris Hedges that said it would be evangelism that will rebuild after the depopulation, I thought
it could be law, wrong, they would have to read and write. It would have to be superstition chants in short phrases
to herd the piggies.