Detroit is flush with taxpayer cash.
Not its own taxpayers mind you, but nevertheless, it has a spigot it can apparently turn on at will. A Granholm era program that somehow still exists and ‘guarantees Detroit HS graduates two years of college will apparently come out of the taxes collected for schools. Even after getting the State bailout money going forward?
Duggan on Tuesday said that in the 2018-19 tax year tax dollars from the growth of the city will start to go into the scholarship fund.
“What the chamber has done is raise the money to create a bridge for that,” he said. “We can’t expect the chamber to raise scholarship money forever. This is the way that it was intended to work. They’ve done a wonderful job in the short-run. We will have funding out of the education tax in the long-run.”
The city forecasts the tax capture, once effective, would provide funding for the next two decades, ranging from $1 million per year up to $4.5 million projected in 2035, according to property value estimates rooted in the city’s bankruptcy Plan of Adjustment.
Money is fungible.
Check.
Ask your legislator how they could allow this to go on.
H/T 10x25MM
(16)Nuh Uh.
(0)
We're bailing it out because term-limited legislators know that kicking the can down the road with a 3/4 billion dollar check won't hurt them one bit.
Unfortunately, pouring more money into a broken district with crushing pension liabilities WILL hurt the taxpayers when we're right back at square one in a few years.
1) Dissolve DPS and stop taking on liabilities 2) Expand charters in Detroit which will not add to pension liabilities 3) Give parents a choice through school vouchers. Let the free market decide which schools succeed or fail.
100% agree.
Suggesting a repeal of term limits?
"...Suggesting a repeal of term limits?..."
..term limits, FOIA and OMA (replacing both with teeth) and abandoning the ridiculousness of (suddenly) solving generations of full-time legislative failures 'part-time'.
There were never enough patriots willing or able to run for office all these years through no fault of their own. Term limits did nothing but put more lobbyists out on the street and hand over very financial advantage imaginable to the other side.
Bullshit. DeVos/De Leeuw/McNeilly are getting everything they've always wanted by using "True Conservative" dumbshits who think unlimited money = free speech.
Try to outspend them, losers.
Come, come now people!
You should all know better!
"It's all about the children"™ (at least that is the mea culpa my state rep is using).
I've got to admit it's one hell of a return on our (now rapidly exceeding) $13k/student "investment":
- Only 93% are not proficient in reading.
- Only 96% are not proficient in math.
So how much money will your elected representative not be returning to your district because of their vote?
"However, they must apply for Pell grants and meet certain college financial aid deadlines, in addition to being accepted by one of the five participating community colleges."
http://m.michiganradio.org/post/detroit-promise-scholarship-offers-grads-two-years-college-tuition
Based upon your figures, the "Granholm era program" won't be eating away much monies.
Float the debt.
Read a little further in the Radio Moscow article you referenced:
Charters in Detroit have more students than DPS by a 54,000 to 47,000 margin, and the disparity in annual graduates is even wider: 4,000 plus to under 500.
Do the math and you will see that even a modest scholarship, say $ 2,000 per annum per graduate, will cost at least $ 18 million per year.
Serious money, no?
Your assumption is the quantity who may attend community college. Preposterous, presumptuous, and egotistic even when facing the altruistic egalitarianism bait pile of the free shit Party.
Here's another thing with respect to that from an article received this morning in my inbox.
"It’s in similar spirit as the Kalamazoo Promise, a pioneering free-tuition program. The anonymously funded plan, announced in the fall of 2005, pays the college tuition of students who graduate from Kalamazoo Public Schools."
If the "Granholm era program" goes tits up, then Detoilet has several deep-pockets/short-arms billionaires who've been ripping off taxpayers for trolley cars, race tracks, sporting arenas and casinos who Duggan can go hit up for the difference.
Could care less, anymore.
Float the debt.