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Some random truths on school funding as we approach a significant economic downturn. Most states never fully recovered to labor cost adjusted pre-recession spending levels:
Most states significantly reduced the share of their economic capacity spent on K12 ( http://schoolfinancedata.org )
State taxes and revenues (combined state and local) have been downward trending for decades:
Most states in lower left here - reduced effort & reduced revenue since before last recession
Ignore "alternative facts"
And where exactly did those cuts land?
And those cuts - and yes they were cuts - harmed student outcomes! https://www.nber.org/papers/w24203.pdf & https://files.eric.ed.gov/fulltext/ED579067.pdf
As always, the interesting story is in the variation across states. For example, % changes are larger where spending is just a lot lower (like AZ or OK) & the high water mark differs across states in level and timing.
Total revenue (all sources) per pupil tracks similarly
