A Fordham report claims that the problems of inequality and inadequacy of public school funding have largely been solved. Relying on national funding averages that can mask the shortchanging of districts serving vulnerable student populations, the report’s analysis is too coarse-grained to inform state-level policy, where inequities and inadequacies persist despite the report’s assertion otherwise. The report's other arguments ignore a vast literature on analyzing education costs while allowing for reasonable calculation of funding necessary to provide all students with genuinely equal educational opportunity. Overall, it lacks a sound evidentiary base and provides no reliable or useful guidance for policymakers.