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Lost Debate

The $40 Billion Money Pit

Lost Debate

The Branch

News, Society & Culture, Politics

4.6607 Ratings

🗓️ 27 May 2026

⏱️ 40 minutes

🧾️ Download transcript

Summary

New York City spends over $40,000 per student — more than almost anywhere in America — yet its schools deliver painfully average results while enrollment continues to collapse. Ravi sits down with journalist Marc Novicoff to unpack the exploding costs, shrinking classrooms, special education loopholes, and political dysfunction driving the crisis. They explore how billion-dollar programs, empty school buildings, and untouchable bureaucracy are reshaping public education in America’s largest city — and why almost nobody in power seems willing to confront it. _______________________ Leave us a voicemail with your thoughts on the show! 201-305-0084⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Subscribe to our YouTube channel: https://www.youtube.com/@LostDebate Follow Ravi at @RaviMGupta Notes from this episode are also available on Substack: https://thelostdebate.substack.com/ Read more from Ravi on Substack: https://realravigupta.substack.com  Follow The Branch at @thebranchmedia Listen to more episodes of Lost Debate on Apple: https://podcasts.apple.com/us/podcast/the-lost-debate/id1591300785 Listen to more episodes of Lost Debate on Spotify: https://open.spotify.com/show/7xR9pch9DrQDiZfGB5oF0F Listen to Where the Schools Went: https://thebranchmedia.org/show/where-the-schools-went/

Transcript

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0:00.0

Welcome to The Lost Debate of Shofor Politically Ecclectics. I'm Robbie Gupta and a bit of housekeeping to start off here. We are rebooting our YouTube page. So you can check out our link in the show notes. Click on that. Subscribe. This episode is going up there. We put our episode from last week. I'm going to start dropping some takes there. Also, a lot of lifestyle content and learning content like dispatches

0:22.1

from when I went to pizza school, which we're going to put up there. So subscribe there.

0:25.7

It's going to undergo some rebranding and name change and all that in the next couple weeks.

0:29.1

And so I'll talk more about that in the weeks ahead. I'm planning to drop an analysis of the Texas

0:33.6

Senate race in the next two days, how those two candidates are positioning themselves

0:38.0

and what their vulnerabilities and potential strengths and avenues are. But today we're here to

0:43.1

talk about maybe one of the most wasteful, certainly one of the most expensive school districts

0:47.8

in American history. And just last week, Jeff Bezos turned some heads in an interview he gave

0:53.6

with CNBC's Squawk Box.

0:55.9

And there were some things he said in that that I thought were silly or wrong.

0:59.8

But there was one thing in there that I think is worth considering.

1:02.6

He said, if we ran Amazon the way, New York City runs their school system.

1:06.9

Your packages would take six weeks to arrive.

1:09.2

We'd have to charge you $100 delivery fee. And then when the package did finally arrive. We'd have to charge you a $100 delivery fee.

1:11.8

And then when the package did finally arrive, you'd have the wrong item in it anyway.

1:16.5

Now, I get it why nobody wants to be taking lessons from Bezos or any finger wagging,

1:21.9

especially given some of the other things, even said in that interview.

1:25.2

But I want you to listen to this interview that we have

1:28.3

today. And I want you to ask yourself at the end, was Jeff Bezos right about the New York City

1:33.6

school system? And in order to help us grapple with that question, I'm inviting on Mark Novikoff,

1:41.4

who just wrote a very fascinating article for the Atlantic called a mediocre

1:45.8

public school education for just $40,000 of people, how New York City's education budget became

...

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