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A Revenue Hole that Leads to Long Term Financial Cliff for Public Schools

April 30, 2020

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This article contrasting a wealthy NY county with a solid balance sheet with a poor LI county that operates a deficit illustrates the reality that unless the Federal government provides a massive injection of funding to offset lost revenues the impact will be devastating. The article makes no mention of another reality: state revenues for schools— affluent AND especially poor— are about to fall off a fiscal cliff, a cliff that would last for years if the “solution” of giving state governments a long term loan. It took nearly a decade for schools to recover from the “Great Recession”. Without a huge bailout for state governments it will take even longer to get a reasonable revenue stream for schools.

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