This is one of those things that makes you want to cry.

From the WSJ:

At $578 million—or about $140,000 per student—the 24-acre Robert F. Kennedy Community Schools complex in mid-Wilshire is the most expensive school ever constructed in U.S. history. To put the price in context, this city’s Staples sports and entertainment center cost $375 million. To put it in a more important context, the school district is currently running a $640 million deficit and has had to lay off 3,000 teachers in the last two years. It also has one of the lowest graduation rates in the country and some of the worst test scores.

The K-12 complex isn’t merely an overwrought paean to the nation’s most celebrated liberal political family. It’s a jarring reminder that money doesn’t guarantee success—though it certainly beautifies failure.

Pretty picture isn’t it? Want to know just how egregious this is? Consider the cost that charter schools incur to put up a new campus:

Expect more such over-the-top and inefficient building projects in the future. Los Angeles voters have approved over $20 billion of bonds since 1997 and state voters have chipped in another $4.4 billion of matching funds. Roughly a third of the cost of the Kennedy complex will be shouldered by state taxpayers.

The district’s building spree has sparked outrage from charter schools, not least because they are getting only a tiny piece of the bond pie. California Charter School Association President Jed Wallace says a charter school can be built at a seventh of the cost of the Kennedy complex and a quarter of most L.A. schools. For example, the nonprofit Green Dot built seven charters in the area—to serve about 4,300 mainly low-income students—for less than $85 million in total. These schools also have a collective graduation rate that’s nearly twice as high as that of the Los Angeles Unified School District, which Education Week magazine pegs at 40%.

The next time you hear a Washington pol suggest that we need to send money to the states to aid in the recovery remember this story. Running out of money and credit might well be the best thing that could happen to a lot of municipalities and states. It’s probably the only thing that will stop this sort of outrage.