Monday, February 21, 2005

governor likes to borrow against the future

He endorses this practice by school districts, at least as long as it helps him look good.

Diane Rado, Chicago Tribune, page one, above the fold:
The governor relied on a statewide snapshot showing a dramatic decline in the number of districts operating in the red between 2003 and 2004. But by focusing only on a decline in deficit spending--just one measure in evaluating a district's financial health--Blagojevich created a misleading portrait, his critics say....

In addition to Waukegan, four other districts cited as turnarounds were so short of cash that they borrowed against their future tax collections to cover expenses last school year.

Six districts, including three of those forced to borrow, were in such bad shape that their own financial reports acknowledge that they are expected to be on the state's financial watch and early warning lists next month--designations for districts in the most serious financial trouble.

Would it be too much to ask for RB to skip the spin and just give us competent government and acknowledge the real problems the state faces?


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