This study is the seventh in a series of studies conducted by the American Association of School Administrators on the impact of the economic downturn on schools. AASA launched the series in fall 2008 in response to state budget shortfalls, federal buy-outs and interventions, and a series of additional events characterizing a slowing, stagnant economy. As the economic situation worsened, AASA continued to monitor its impact on schools through a series of surveys of school administrators nationwide. The AASA economic impact studies are unique in their ability to provide benchmark trend data around the impact of the economic downturn on America's public schools. The studies demonstrate that school districts in every part of the country are subject to the realities of the economic downturn and that the financial crisis continues to threaten and impact the progress schools have obtained and the stability they have enjoyed in the past. "A Cliff Hanger: How America's Public Schools Continue to Feel the Impact of the Economic Downturn" is based on a survey of school administrators conducted in March 2010. A total of 453 school administrators from 45 states completed the survey. Many of the questions in this survey are repeated from the six previous surveys and add to AASA's ability to collect and analyze long-term data. New to this survey is a more in-depth look at how school administrators perceive competitive grants and the role of competitive grants within federal education funding. Appended to the report are: (A) Survey Questions, (B) Open-Ended Responses to Competitive Grant/Formula Program Questions, and (C) Focus Group: Are States and Districts Changing Their Contributions to Pension Plans?