Katie Couric's Notebook: Education Budget

As the Greek philosopher Epictetus wrote, "Only the educated are free."

Unfortunately, even a public school education comes with some cost. Right now, there are holes as big as school buses from sea to shining sea....as districts make drastic cuts to stay afloat.

The LA school system sent out five thousand lay-off notices. Detroit could close 40 schools. Some classes in Cleveland could be jammed with as many as 45 students. Schools in Florida may have to cut art, music and gym.

In all, 90 percent of public school principals expect to send out pink slips by this summer.

Administrators say they have no choice. Property taxes plummeted because of the housing crisis and many states slashed funding. So, without these changes, homeowners would be stuck with soaring tax bills they couldn't afford.

In tough economic times it's important to keep investing in our future. But that's hard to do....when we're short-changing our children today.

That's a page from my notebook.

I'm Katie Couric, CBS News.