Rahm Emanuel has a weird way of boosting education.
The Mayor of Chicago recently closed 50 schools in the city, citing extreme budget shortcomings. All those taxes don't seem to be raising a whole lot of money for Emmanuel, so it's the schools that are getting shut down in the poorest areas where crime happens to be the highest.
Or are they?
We don't know for sure, because Emanuel has ducked reporters and avoided cameras since news broke that the taxpayers would be funding a new basketball stadium for DePaul University. It'll cost them a whopping $125 million to fund a hotel-arena complex designed after the Staples Center for a private school. The stadium will be used for 18 games per season, and likely won't draw and concerts or other revenue streams with Chicago's United Center just a few miles away.
This is another, "stadiums bring economic value" argument that has been disproven by economists. It makes less sense to try it near a major city with the same amenities.
Their investment will likely be fruitless and will add to the $1 billion education budget deficit Chicago is facing (That's right, the $125 million wouldn't even be remotely close enough to keep those schools open).
It's like Emanuel is attempting to keep the people entertained to distract them from the murder rate and severe education crisis, as he sacrifices the future in the process.
He claims we will see the fruits of his labor in 20-30 years. He's right, but by then the fruit may be spoiled.
