Projections developed from the past quarter century trends in New York's tax and spending levels are used to forecast the future financial implications of current fiscal and educational policies. The summary report describes the manner in which the projections are achieved, identifies several concerns and issues associated with the fiscal outlook, and examines questions relative to the future of education in New York. The criteria for evaluation included revenues and expenditures in current and constant dollars, per capita constant, and per capita current dollars, and various demographic data. In order to study the interrelationship between the state's and the nation's economy, total revenues and expenditures for both the United States and New York were projected. (Author/MLF)