Previous research showed that the Great Recession of 2007-2008 had negative effects on student test scores. These declines were linked, in part, to the negative effects of states' educational budget cuts or less spending per student. Using individual student test scores, this paper examines whether the level of school quality (as measured by criterion-referenced tests) cushioned the negative effects of this decline in spending. Preliminary results show that student scores in higher-rated school districts declined as a result of the recession's cuts, but by less than lower-rated school districts.