March 9, 2010

Florida v. Georgia -- in budget crises, not football

Today's revenue-estimating conference in Tallahassee is probably going to confirm prior state revenue estimates, which are slightly better for 2010-11 than 2009-10, but that's like saying two broken legs are better than two broken legs and a broken floating rib. The state revenues are still far below 2006, and there are three sources of pressure on the state budget: increased demand for Medicaid, the federal maintenance-of-effort requirement for education (even with the waiver for absolute maintenance), and declining property-tax collections that support K-12 school districts.

Last year we kept reminding ourselves that we weren't in California. And this year, Georgia's picture is worse. Plus a few other states I could mention. But that's cold comfort: Schadenfreude doesn't pay the bills.

Updated (5:45 pm): Yes, today's Florida state revenue estimates are almost identical to the last round.

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Posted in Education policy on March 9, 2010 11:50 AM |