This policy brief examines state-by-state trends to compare the extent to which state and local governments are investing in education and in corrections. More specifically, this brief uses extant data from the Bureau of Justice Statistics, National Center for Education Statistics, U.S. Census Bureau, and other sources to present a snapshot of the changes in state and local expenditures for corrections and education from 1979-80 to 2012-13, both nationally and by state. Key findings include: From 1979-80 to 2012-13, state and local government expenditures on corrections rose by 324 percent (from $17 billion to $71 billion), after adjusting for inflation, and considerably outpaced funding growth for elementary and secondary education, which grew by 107 percent from $258 billion to $535 billion. Even after adjusting for population changes, growth in corrections spending outpaced PK-12 spending growth in all but two states. Comparing corrections spending to postsecondary education funding shows a similar pattern: between 1989-90 and 2012-13 (a shorter time period, based on data availability), state and local expenditures for corrections increased by 89 percent, from $37 billion to $71 billion, while state and local appropriations for higher education remained essentially flat, rising by just 5 percent from $67 billion to $71 billion. Indeed, most states reduced higher education appropriations per full-time equivalent (FTE) student. On average, state and local higher education funding per FTE student fell by 28 percent, while per capital spending on corrections increased by 44 percent. The following are appended: (1) Supplemental Exhibits; and (2) Data Sources.