New Orleans school leaders should be ashamed [Video]

Newell Normand went off on Friday about the sorry state of educational finances in the Orleans Parish School District, which can’t seem to get their heads around their own budget.

Schools could face a $36 million funding shortfall after an error in their budget projections that was nearly twice as bad as an earlier estimate of their own miscalculations, according to an update from the district on Friday.

“I really can’t wrap my head around this one. This is embarrassing! It is crazy! Education is a mess! It’s a debacle!” Newell said.

They overestimated property tax projections, believing they would increase by 18% for no apparent reason. No tax hike, no changes of any kind except more money was going to magically appear, Newell said.

“We are definitely a third world country,” Normand said about the way funds were mishandled.

“This is Accounting 101,” an irate Newell said. “What? Are …