California's budget mess is taking a toll on many programs and education is no exception.

But some say we may be spending more than enough for students to learn. Right now, the state is spending nearly $70 billion on public education. That's an average of $12,000 per student kindergarten through 12th grade.

Additionally, those numbers have prompted a new study about to be released by the Pacific Research Institute that takes a critical look at school funding.

"If California public schools were ranked among Fortune 500 companies, just in terms of revenue, not in terms of performance, it would outrank Intel, Walt Disney, and it would be up there with Google, Yahoo and Hilton Hotels," explained Doctor Vicki Murray with the Pacific Research Institute.

State School Superintendent, Jack O'connell, says that cutting billions of dollars in education funds would be devastating to schools.