HIGHER EDUCATION BUBBLE UPDATE: Neal McCluskey: White House Denial On College Cost Crisis. “Want to do exactly the wrong things to fix US higher education? You can’t do much better than the recent offerings from Education Secretary Arne Duncan. To a system blackout-drunk on taxpayer money, the Obama administration would deliver even more booze while only whispering about tough love. . . . Ultimately, none of Duncan’s prescription will make college much cheaper or more effective. Only taking the jet fuel — federal student aid — out of college pricing, and being frank about the real value of higher education, could do that.”