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They spend a ton of money but they don’t get much in return.
My suspicion is that they spend a lot of money on non academic endeavours like football and marching band. Heres a current example of a school district spending $21m on a sports complex.. Search “Texas High School Football” on your favourite engine.
Attempts are made to solve the problem with standardised testing, which is incentivised, which simply leads to teaching to the test.