U.S. Education Budget Roiled by Financial Crisis

This from Education Week:

The result of the presidential election will likely help determine how much money education programs receive in the 2009 federal fiscal year, which begins this week. But a multi-billion-dollar federal plan to assist the financial markets may leave the next president with very little room for major increases for K-12 schools, perhaps for the foreseeable future...

...“This bailout is basically going to suck the air out of education funding for years to come,” unless there is a major commitment to boosting education spending on the part of the next president, said Edward R. Kealy, the executive director of the Committee for Education Funding, a Washington lobbying coalition. Education advocates will have to make the case that investing in schools is necessary to shore up the economy over the long haul, he said...