The architects of Multnomah County’s universal preschool program have rich-people problems.

After fiscal year 2025, the county’s annual financial report reveals, Preschool for All is sitting on $610 million. That nest egg, first reported by WW last week , makes it the envy of just about every other government agency—just $10.5 million would solve the county’s overall budget shortfall this coming fiscal year—and it fuels the enormous resentment felt toward the program by many of the executive class who bankroll it via their income taxes.

So it might come as a surprise that the people monitoring the program are making their chief concern whether Preschool for All will remain financially solvent a decade from now.

That’s because, as county economist Jeff Renfro puts it, Preschool for A

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