K-12 Education Public Funding

My wife sent me this article about K-12 funding in the current AZ Legislature.  I have started to read some at respectforregularfolks.com.  This issue is very concerning to me.

We are in difficult economic times.  I work at CB Richard Ellis.  All of the US employees are getting a pay cut.  How do we deal with smaller public revenues in AZ?

There is a part of me that says that public school funding should be like insurance.  You pay every month with an assurance that if something goes wrong, you will still be able to pay your bills.  There is another part of me that says budgets must be cut when revenues go down.

I am no expert in personal budgeting let alone public ones.  I do have a couple of questions.  How will budget cuts be affecting charter schools?  Would they get the same cuts public schools get?  What else could be cut to replace the proposed cuts in education?

I would appreciate any insight.