Tough Choices Update 2008
In 2004, the trustees of the Jessie Ball duPont Fund supported Florida State University's partnership with the LeRoy Collins Institute to study Florida's future needs and how to finance those needs. The result was a booklength study titled "Tough Choices," with voluminous data and analysis, together with a shorter executive summary of the findings.
In our judgment, the report provided a basis for thoughtful Floridians to understand the state's future challenges, and proved prescient in predicting the current state fiscal crisis.
In 2007, the Fund's trustees provided support to allow Carol Weissert and David Denslow to update "Tough Choices," the results of which are included in this publication.
We recommend this update for your consideration, believing that "Tough Choices" delineates important future challenges facing our state and recommends strategies we should consider in planning our collective future.
– Sherry Magill, President, Jessie Ball duPont Fund
Table of Contents
Introduction: Letter from the Chairman
Ch. 1: Revenues, Real Estate, and Demographics: We see the potential for a relatively rosy fiscal future, driven by a wave of wealthy retirees.
Ch. 2: Income Trends, Tax Burden and Storms: Household income improves, the tax burden on small business worsens, and Florida remains uniquely exposed to hurricanes.
Ch. 3: PreK-12 Education: After a pause in enrollment growth, intense funding pressure will resume.
Ch. 4: Higher Education: Years of funding neglect come home to roost during a budget crunch.
Ch. 5: Medicaid, KidCare and Other Services: Medicaid expense growth is likely to resume; Florida scrimps on KidCare and infrastructure.
Ch. 6: Recommendations: Florida's bad habit of leaving revenue on the table and the case for a longer-term perspective on services.