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ERIC Number: EJ864173
Record Type: Journal
Publication Date: 2009-Nov-4
Pages: 2
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0277-4232
"Funding Cliff" Looms Large for States
Robelen, Erik W.
Education Week, v29 n10 p1, 19 Nov 2009
Amid a still-shaky economy, a troubling reality is starting to set in for states and school districts: The budget situation may get a lot worse when the federal economic-stimulus spigot runs dry. The hope of the Obama administration and Democrats in Congress has been that the $787 billion in the American Recovery and Reinvestment Act--including some $100 billion for education--would soften the pain of the recession and help drive a recovery. But as helpful as many state and local officials have found the one-time stimulus aid in coping with current and anticipated revenue shortfalls, it creates some awfully big holes to fill when the money begins to run out late next year in what's widely known as the "funding cliff." Experts also caution that the recovery of state and local coffers is likely to significantly lag behind any progress in the national economy generally. For one thing, state budgets are largely supported by individual income and sales taxes, which will likely be slower to catch up.
Editorial Projects in Education. 6935 Arlington Road Suite 100, Bethesda, MD 20814-5233. Tel: 800-346-1834; Tel: 301-280-3100; e-mail: customercare@epe.org; Web site: http://www.edweek.org/info/about/
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Elementary Secondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A