Race to the Top's Hidden Price Tag
When the Obama administration dangled $4.35 billion in Race to the Top (RTTT) funds before money-hungry public school systems around the country, educators and politicians in most states reacted as if it were free money for simply singing the school-change tunes the feds wanted to hear.
Of course, the money isn't free at all. It was carved out of the 2009 American Recovery and Reinvestment Act (the "stimulus"), meaning it is borrowed money for which our grandchildren will be on the hook. It is highly doubtful that those future taxpayers will see benefits anywhere close to equaling a price tag that will soar with added interest.
In addition, local and state bureaucrats who competed for RTTT grants like a pack of wolves snapping at juicy pork chops are finding the grants may cost more than they bring in.
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