New York Teachers Union in Debt

The New York Post reports:

If you spend more money than you take in, you’ll go into debt. But if you spend $30 million more — well, you might be a union boss. IRS files from the 600,000-member New York State United Teachers show it swimming in red ink again this year. The union claims the $30 million figure is misleading, and its cash shortfall is a great deal less. Even if true, folks at its Albany headquarters seem to do be doing well for themselves. More than half of the union’s 500 employees earn more than $100,000 a year, for example, and 15 employees earn more than $200,000, the Albany Times-Union found.

It's all for the children.