Wichita school district’s cost-shifting burdens federal coffers
When USD 259, the Wichita public school district, recently sold some bonds, they took advantage of a new program called Build America Bonds. This program was passed as part of the federal stimulus program earlier this year. The benefit to the Wichita school district is that the federal government will pay 35% of the interest on the bonds. Reading the news release from the school district, it's just like free money. Pennies from heaven, as it were. The problem is that the Build America Bonds are a tremendous burden to federal taxpayers, and will likely be so for some time.…