Submitted by Michael Krieger of LibertyBlitzkrieg.com
This story here, as much as any I have ever read, perfectly exemplifies the complete parasitic, ponzi and entirely unsustainably criminal carcass of an economy that remains in the United States today. This is devastatingly frightening reading. The state of California is completely finished. From NPR:
Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed.
In the West Contra Costa Schools’ case, that $2.5 million bond will cost the district a whopping $34 million to repay.
Read more here.