This. I was part of a program managing NASA grants, mostly to universities. The University overhead was atrocious, in a few cases approaching 40%. Of course tha

This. I was part of a program managing NASA grants, mostly to universities. The University overhead was atrocious, in a few cases approaching 40%. Of course that's just how the industry works, which means grant agencies get accustomed to it and start giving out higher grants to compensate, and the subsidy increases. Sequestration must have hit universities hard.