Can you think of a business whose product has increased in price, often by 10 percent or more, year-over-year for decades? Meanwhile, that same product has consistently gotten worse. Of course you can’t think of a business that was run so recklessly. But that pretty much sums up what’s happened in American higher education, with its endless stream of public subsidies.

According to a recent report by the Chronicle of Higher Education, more than 100 colleges in America are now charging over $50,000 a year for tuition, room and board — and that list even includes one public school: the University of California at Berkeley. The Chronicle of Higher Education further reported that 30 college presidents now make over $1 million a year.

Recommended Stories

Veterans of Foreign Wars leaders wonder why VFW-PAC keeps endorsing Democratic incumbents

Note to Pelosi: Does the public even understand the ‘public option’?

In one month, Bush memoir sells as many copies as Clinton’s did in six years