Now keep in mind the Cato Institute likes to frame its opinions on the "principles of limited government, free markets, individual liberty, and peace." So there is your disclaimer. Either way, I found this really interesting and pretty balanced.
“The differences between Barrack Obama and John McCain on k-12 education policy center on school choice and funding. McCain is more supportive of school choice and local control than Obama, and Obama supports a much larger increase in federal education spending.