Bankruptcy for schools?
Public education is traveling to a head-on train wreck, which will happen in about two to three years. Local school districts can no longer afford the costs for educating our children. Present employee contracts are based on 1960 - 1970 data, which seems to indicate an “endless supply” of money to fund this business. We all know that this “data” is obsolete but local Board of Education members feel obligated to deal with the union demands. This is what may happen soon to our Public Education: “Bankruptcy.” Obama proved this can work when he allowed General Motors to go bankrupt. The company never stopped producing cars, but bankruptcy allowed this company to disregard contract agreements. It rehired the same employees for 1/3 the pay scale with fewer benefits. I believe that this process will soon happen to state education. Taxpayers can no longer afford the costs. Ending contract agreements through bankruptcy is not something anyone likes, but this may be the only answer to saving public education.