You're right about the article itself, but you're missing the context. Greenspun has had a long series of nuggets of cynicism that make up most of his blog pos

You're right about the article itself, but you're missing the context. Greenspun has had a long series of nuggets of cynicism that make up most of his blog posts. Together, they paint a picture that gives more excuse for his cynicism. - Public employees make up an ever growing percentage of the workforce, which still has to be paid for by the private sector. - Many public employees have large unfunded pension obligations that are very hard to cut. - As such, new graduates need to have lots of earning power to keep the whole country running. - His experience with college graduates both in the computer field and the in the context of flight school and his reviews of curricula imply to him that students actually learn very little, and are no more prepared than non-U.S. students to generate lots of value. - His exposure is mostly to Boston area students, who on average pay a lot for school, or someone else does via scholarships. So I don't think he means the blog post literally, but in context he's just offering another data point that supports his thesis that the U.S. in economic trouble in the medium to long term.