Schools face big budget holes as stimulus runs out - Terence Chea, AP

The Obama administration's $787 billion federal stimulus package provided roughly $100 billion for education, including $54 billion to stabilize state budgets. In October the White House said the stimulus created or saved 250,000 education jobs. But many states have used most of their stimulus money, leaving little to cushion budget cuts in the coming fiscal year. Experts say the looming cuts could weaken the nation's public schools, worsen unemployment, undermine President Obama's education goals and widen the achievement gap between students in rich and poor districts.