The States’ Budget Crisis
My ex-husband Richard Ravitch is a brilliant man who has spent most of his life in public service. He was born during the Great Depression, and he grew up idolizing Franklin Delano Roosevelt and believing that the highest ideal was to improve the well-being of the public.
We have an informal agreement that he doesn’t do education and I don’t do housing, transportation or public finance. But now he has stepped into my territory and I must step into his.
Yesterday he and Paul Volcker released a task force report on the budget crisis facing states. The task force report should be read by everyone because it contains an urgent warning. As of 2009, states now spend more on Medicaid than on K-12 education. That is a historic reversal. States are facing unsustainable costs and will have to make cuts to essential services if they can’t make appropriate adjustments to their tax and spend policies.
We have an informal agreement that he doesn’t do education and I don’t do housing, transportation or public finance. But now he has stepped into my territory and I must step into his.
Yesterday he and Paul Volcker released a task force report on the budget crisis facing states. The task force report should be read by everyone because it contains an urgent warning. As of 2009, states now spend more on Medicaid than on K-12 education. That is a historic reversal. States are facing unsustainable costs and will have to make cuts to essential services if they can’t make appropriate adjustments to their tax and spend policies.