The failed and bankrupt Los Angeles public school district is spending money like there’s no tomorrow—which for the students it’s failing to educate is unfortunately true.

The school district, currently running a $640 million deficit, is spending $578 million—about $140,000 per student—on a new, 24-acre school in the middle of Los Angeles. At the same time, the district has laid off 3,000 teachers over the past 2 years, and has the second lowest graduation rate in the country, at 40.6%.

L.A. claims to spend about $10,000 per student. But, as this article reveals, its actual per-pupil budget is $29,790, in stark contrast to private school spending:

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