PHILADELPHIA (CBS) – KYW was reporting that the Philadelphia school district was in the red by $75-million. It was 1975 – 40 years ago.

Not much has changed.

Recently KYW’s Mike DeNardo detailed predictions of an $80-million budget hole. Considering the rate of inflation, the district might be better off now than then.

So what happened in ’75? The board took out the budget axe and began chopping away at extra-curricular activities and transportation. Then the state stepped up with $36-million.

When the smoke cleared, the deficit had become manageable. Those after-school activities were gradually restored.

But like groundhog day, it’s a scene that has played out from year to year. Only the people have changed.