Total expenditures on K-12 education are projected to increase to $592 billion by 2016 (compare to $293 billion in 1991 and $416 billion in 2003), while per pupil expenditures are predicted to reach an average of $11,100 per student (compare to $7,000 in 1991 and $8,600 in 2003). Projections are presented in constant 2004?05 dollars.

Pupil/teacher ratios are projected to drop from 17.1 to 1 in 2001 to 14.5 to 1 in 2016.

Bottom line: Expect the greatest education system in the world by 2016.

Fellow nerds can download a copy of the report here.