Today's legislative action seems to be a way to stall for time.  The message I get is that PACT will continue to pay for the coming year (since they know the funding is there) and then the public will vote in June 2010 on a constitutional amendment concerning whether or not state funds will "bail out" the PACT program.  From listening to folks where I work, the "bail out" idea would be EXTREMELY unpopular - people are angry!  I think the public will reject the amendment and we will be back where we are now - not knowing what will happen and how to plan.  In the meantime PACT still holds and manages the money we used to purchase the contracts (not earning interest) and we have little time to save (my twins start in the fall of 2010).   Of course, the 'let the people decide' approach would buy some time for the stock market to recover some (if it is going to - no guarantees on that), in which case many people might not feel as financially stressed as they do now.  It also means the the lawsuits pending would be stalled....