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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