Tag Archives: debt

It’s been a little while since we talked about Jeffco, but I couldn’t resist chiming in on a CBS 4 story proudly declaring that the district has broken ground on a “brand-new K-8 school” in Arvada’s Candelas development. The construction of a new school wouldn’t normally merit a blog post, but this particular school carries such political baggage and symbolic value that it’s impossible to ignore. If you dig deep into the locked container in your head labeled “Jeffco Recall 2015,” you’ll probably remember a bit of a kerfuffle last year about the proposed use of certificates of participation to finance new school construction in Jefferson County. COPs, as they’re colloquially known, exist mostly as an end-run around TABOR in that they allow governments to incur long-term debt without voter approval. The Independence Institute’s Josh Sharf explains it like this: The government, in this case a school district, transfers some asset, usually a building or set of buildings, to a special-purpose entity set up specifically to administer the COP.  That entity – not the school district itself – then floats the bond on the municipal bond market.  It then leases the buildings back to the school district for lease payments […]

I am bummed. Not only did school not get canceled today, but I also missed my chance to see Washington DC school chancellor Michelle Rhee. She was in Denver last night. (Follow that link to read the story and watch a video of her.) Where was I, you ask? Getting a long timeout and an early bedtime for excessive Lego-throwing. That made me even angrier, because Michelle Rhee is one of those few education leaders willing to take on a real fight to help make a difference for kids. Don’t believe me? Look at the article by Jeremy Meyer in the Denver Post: “We have public schools so that every kid can have an equal shot in life,” Rhee said. “That is not the reality for children in Washington, D.C., today or many children in urban cities today. That is the biggest social injustice imaginable.” Rhee said radical changes are necessary. “Unless we do something massive about this right now, unless we are willing to turn the system on its head . . . then all of the ideals of this country are actually hollow,” she said. Not that I agree with everything Rhee has to say, but it is […]

You know how this almost-six-year-old is no fan of the huge spending bill the President flew out here to sign last week. While it sounds nice on paper, I’m here to clue you in to the fact we aren’t going to be saved by a “magical money tree”. In the meantime, my Education Policy Center friend Ben DeGrow has a tip on how to make the best out of a bad situation. As he writes in yesterday’s edition of the Colorado Daily – if nearly a billion dollars is going to flow into Colorado for the purposes of K-12 education, let’s at least attach it to some serious and radical reforms: If the federal government is bound to spend untold billions it doesn’t have on education, nearly all would be better served by a student-centered approach to distributing the funds. Washington would do much better to offer incentives to states and school districts that attach funds directly to students, empowering families with a wide array of public schooling options. After all, parents best know how to make use of the money to meet their children’s needs. The so-called “stimulus” is a fait accompli. Yet for all the mammoth debt, the […]

The horse isn’t dead yet, so I’m not going to stop beating it. I’ve already highlighted the silliness of the “magical money tree” solution to education coming from Congress. Let’s not mince words: the so-called “stimulus” bill in Washington, DC, is a disaster. A disaster for education reform, and a disaster for students – who would end up being burdened with far, far more debt than we can hope to gain from the proposed education spending. As much as I have enjoyed picking apart the nonsense of this gargantuan wasteful spending bill, the writers at the Edspresso blog truly have been in their heyday unraveling the topic. After a hot start a few years ago, Edspresso went through some tough, slow times. That appears to be in the past, though. The latest piece “Status Quo Education Stimulus” ironically lauds the National Education Association for showing us how “the stimulus bill is nothing more than additional funding for the education programs and structures that already exist, regardless of efficacy.”

The big story in the news is about President-elect Obama’s giant “stimulus” plan – better known as a giant spending spree that hangs even more debt on the shoulders of me and other kids growing up around America. That part is bad enough. But three leading education reformers – Michael Petrilli, Checker Finn, and Frederick Hess – see other serious problems that it will create for trying to improve our schools and help students learn. In the column they wrote for National Review yesterday, the authors challenge the suggestion that tons of federal government money “invested” in education will yield more positive results down the road: In concept, of course, well-delivered education eventually yields higher economic output and fewer social ills. But there’s scant evidence that an extra dollar invested in today’s schools delivers an extra dollar in value — and ample evidence that this kind of bail-out will spare school administrators from making hard-but-overdue choices about how to make their enterprise more efficient and effective.