|Abandoned Detroit school|
From the Detroit News:
The Detroit school district is teetering on the brink of payless pay days and financial disaster, but declaring bankruptcy is not a viable option, State Treasurer Nick Khouri told lawmakers Wednesday."If bankruptcy were declared, that could be six to 12 months of pure chaos and nearly $100 million going to bankers and lawyers," Khouri added.
The Legislature must act on a legislative rescue package, Khouri said.
"When the district runs out of cash, which is coming up quick without legislative action, there will be payless pay days," he told the Michigan House Appropriations Committee in Lansing.
As for the chaos, it's not as if students are learning that much now in DPS schools.