Another dumbshit American university builds a sports facility it can’t afford … goes begging for money from the state… uses operating funds to service the debt…
Today it’s Indiana University of Pennsylvania.
[S]ome on campus, noting the bonds may have to be paid off with university operating funds, questioned why officials let a project with at least 40 percent of its funding not yet identified break ground in November 2008 amid a worsening economy.
“Folks, to quote a friend of mine, to get out of a hole, the first rule is to stop digging,” Robert Mutchnick, an IUP professor and president of the faculty union’s campus chapter, wrote in a campus e-mail… “They are mortgaging the future of the university,” he said.
Happens every day.