By Dan Lips
Earlier this week, leaders of the Miami-Dade school system and Broward County school board in Florida called on the federal government to provide a "bailout" for the area's ailing school districts.[1]
The lagging economy has resulted in declining tax revenues and ballooning budget shortfalls for many state governments and local communities across the nation. The National Conference of State Legislatures recently reported that state governments are facing $137 billion in budget gaps over a two year period.[2] Thirty-eight states expect budget shortfalls for the 2009 fiscal year.[3]
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