Megan McArdle misses the biggest reason why tuitions are sky-rocketing and that is because Government funding is disappearing. It's not clear this is the bigge

Megan McArdle misses the biggest reason why tuitions are sky-rocketing and that is because Government funding is disappearing. It's not clear this is the biggest reason, and she doesn't actually miss it, either. She states we could just "shift the burden from students to taxpayers." In fact both of you completely ignore the most important question: What is the tuition actually paying for? Where is the money going? Government subsidizing those costs doesn't make them go away and merely fuels demand, which probably causes raises costs even more. A subsidy could keep tuition down, but that would not discourage waste or increase the value of education.