State Superintendent: CA Schools in Dire Need

State schools chief Jack O'Connell says an unprecedented number of public schools in California are close to financial ruin, and the future economic outlook is said to be bleak.

In January, O'Connell's office identified 126 school districts in California that may not meet their financial obligations over the next two years. The figure has since been revised.

"Today we can identify 174 school districts that may have trouble meeting their fiscal commitments," said O'Connell. "That represents a 38 percent increase."

The state superintendent of public instruction says this is what happens when the state withdraws $17 billion in education funding.

"Over 20,000 pink slips were sent to school professional educators," said O'Connell. "Our schools today are operating with fewer librarians, fewer counselors, and fewer nurses."

O'Connell says economic stimulus money helped keep the education system afloat, but the one-time money is nearly exhausted.