HIGHER (AND LOWER) EDUCATION BUBBLE UPDATE:

Money manager Whitney Tilson suggests that the fiscal crisis “means that the 100+ year bull market in education funding is likely over.” Over the last thirty years, we doubled staffing ratios, added generous pensions, and greased the wheels of reform with lots of extra spending–that is over. The ARRA stimulus will be noted as the zenith of education funding (and federal control in education); states are broke, the cliff is here.

Indeed it is, and denial won’t help.