$70,000 a day in interest

posted by Jim Fisher -

The cost of another short-term solution for Chicago Public Schools is incredible. They took out two loans totaling $387 million. The daily interest is $70.000. Nothing there in that interest payment for the students, just money for the bankers who lent them the money. The two loans are to be repaid with pending Illinois education grants from the state government. "Pending" means they might get the money someday.

These decisions reflect the fiscal insanity infecting Illinois governmental agencies.

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