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Exactly Where Did It Go?

Education spending has been increased year after year during the Richardson administration without the slightest improvement in student performance. And now we have this (subscription):

Santa Fe and Gadsden school districts plan to cut dozens of teaching positions. Moriarty may have to close an elementary school in 2007. And tiny Mosquero Municipal Schools in Harding County is one of about 15 mostly small, rural districts relying on state emergency funding to get by.

It’s too early to tell whether there will be more financially strapped districts next year than in past years. But some say making ends meet has become a bigger problem in recent years.

Hmm, I wonder where all that taxpayer money went?