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.

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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.

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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.

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