Wis. Gov. signs budget cutting education $1.85BI'm sure the children and grandchildren he talks about, who will have to face the new challenge of increased global competition with an increasingly better educated non-Wisconsin population instead of the challenges being faced today, will be very appreciative.
Democrats assailed the budget as an attack on middle class values since it cuts funding for public schools by $800 million, reduces funding to the UW system by $250 million and cuts tax credits for poor people.
It also reduces the amount schools can collect from property taxes and other revenue combined, which translates into another education cut of about $800 million. While schools are seeing deep cuts, Walker's budget extends tax breaks to manufacturers, multistate corporations and investors.
"As a state, we can choose to take the easy road and push off the tough decisions and pass the buck to future generations, or we can step up to the plate and make the tough decisions today," Walker said in prepared remarks. "Our budget chooses to fix our problems now, so that our children and our grandchildren don't face the same challenges we face today."
Public universities generally have been faring quite badly in the current financial crisis. I have a deep pro-education bias, unsurprisingly, so I find this depressing. But also, in my mind, it's just not sound financial sense. I believe these cuts today will yield a corresponding decline in Wisconsin's economy tomorrow, for some appropriate notion of tomorrow. A dollar spent on education should be worth... well, I don't know how much it should be worth, but my guess is the multiplier on the dollar is pretty high. I'd like more information to back that up. If you know of any studies that demonstrate the payoff for education -- the sort of thing all of us in the education field should have on hand when discussions like this come up -- please leave them in the comments. It would be nice to have a collection handy.