Katie Couric's Notebook: Hard Lessons

We are all tightening our belts these days, but some of the places being squeezed the most are our children's schools.

Districts from coast to coast are making very tough decisions. Boston would have to cram more kids into every class under a plan to lay off six percent of its teachers. St. Louis may close a third of its schools.

Student athletes across New York State will play fewer games beginning next fall, while a suburban Cleveland district may eliminate sports all together. Other schools are closing science labs or dropping art and music programs.

The schools say they have no choice because the money just isn't there and they can't cut reading and math. But art, music and sports are also important parts of a child's development. By not teaching them now, students may never have the chance to blossom.

Instead, right now they're getting a hard lesson in real-world economics.