And, of course, public education is first in line to get those cuts. It's foolish because the U is the primary provider of human capital for the entire metropolitan area, which will be necessary for future growth.
The fault lies mostly with poor endowment management (34% loss) but the state is only making a bad situation worse.
Sadly, that's how most things in the US operate nowadays. They will gladly keep shunting funds towards more conservative enterprises and businesses which no longer have any true potential for growth. Then, the entire nation is surprised when they hear that other countries are outpacing the US in education by prioritizing it over other areas which don't promote growth as well.
Of course, there's more to it than that. Let's not even delve into the issue that parents in the US want their kids to be considered 'smart' while also letting them watch TV all day and not actually do any work. Or that students claim they want a challenge, but then cry that they got a C on an exam and brutalize teachers on evaluations. Or, finally, that everyone (parents and kids and administrators) wants a high GPA because the educational system here places such importance on that statistic that there's no way to progress without it. Other countries can use that measure without bias because their schoolwork takes actual effort. When the US does it, it's just a pathetically inflated number that means nothing.
My AP Biology teacher was actually demoted from that position to teaching freshman biology in high school because he taught the class like an actual college difficulty course; he felt that it would better prepare students for an actual college lifestyle. He was more relaxed in class, allowed students more independence, and spoke more about life sometimes than he did about biology. In the end, though? He was an excellent teacher and those students who put effort into the class were more than prepared for the AP exam and passed the class.
The students who took the class the year after me, though, apparently couldn't take a challenge. Were they expected to keep up with the coursework? No. Instead, they petitioned the principal that the class was too hard and, as I mentioned already, the teacher was demoted and someone else was hired to fill the position. Everyone in that class got As that year. The average score on the AP exam was a 2.4.
I am almost done with this rant. The end result of all this is that parents don't think there's any reason for more money to go into the educational system because their kids are already 'smart' and the culture in this country discourages parents from looking at their kids realistically. And the cycle continues.
DISCLAIMER: I was born in the US, brought up in the US, experienced the US school system, and dealt with US school administrators. For the most part, the experience was positive and I am now poised to enter medical school, which is where I feel a lot of the problems in the educational system disappear (that's right, you have to wait until medical school). My parents are Indian, but they are not the stereotypical overbearing family. However, they did make sure to encourage maximum effort in whatever I did (not just school), and like every other student on this forum who has a realistic chance of getting into medical school, I got the most out of the system because I put actual effort into my learning. We are, though, in the tiny, tiny minority.
EDIT: Also, I am not saying any amount of funding will make up for students trying in school. However, it can be used to create new opportunities and instill a new culture. And provide new things for students who are clearly advanced past the weak education provided by most public schools nowadays.