Steve Jagler, for BizTimes Media

Gov. Scott Walker's proposed state budget could eliminate $834 million from Wisconsin's schools and local governments. Based on initial calculations, Milwaukee Public Schools (MPS) faces a potential loss of $74 million from its budget for next school year.

According to Christine Harris, president of the Cultural Alliance of Greater Milwaukee, the budget repair bill has several provisions that will directly impact the capacity of the nonprofit arts community to serve the state and the greater Milwaukee area.

Affluent communities receive less shared revenue from the state than lower-income communities. So, cities such as Brookfield will likely be less affected by Walker's plans to cut shared revenue to local governments.

Walker's proposed biennial state budget, which will cut shared revenue and state aid to municipalities across the state, could cause significant short- and medium-term pain in communities such as Milwaukee, which receive large amounts of funding from the state.

FUEL Milwaukee, an organization dedicated to attracting and retaining talent in the Milwaukee region, is "adopting" eight local charities for 2011 as a strategy to increase employees' involvement in their community.

Call it the Great Recession 2.0. The private sector was struck by the Great Recession in 2008, incurring massive waves of plant closures, property foreclosures and layoffs.