No, that's not a typo. According to this front-page Washington Post article from Saturday, that's what Ohio governor Ted Strickland is preparing to request, along with Democratic governors from Michigan, New Jersey, New York, Wisconsin, and Massachusetts.
Surely the group doesn't intend this to be??an annual??payment; the entire education system spends about $550 billion per year, so their proposal would amount to a 45% increase in per-pupil spending, overnight. They can't possibly be that crazy. But even if they mean this to be spread out over, say, five years, $50 billion per year would more than double what Uncle Sam contributes now. This is big, big money.
But it's not inconceivable. Some sort of "revenue sharing" for the states is practically a foregone conclusion (Paul Krugman argues that those cutting state spending now amount to "Fifty Herbert Hoovers," ), and admitting that most of that money will go to the schools (which suck up the majority of state funds) would be a bit of truth in advertising.
Writing yesterday in the New York Times , Matt Miller offers some ideas about the strings that should...