While Obama keeps pushing higher education as a kind of magic elixir for our economic ailments, the fact of the matter is that the resources we devote to it are mostly wasted. The curriculum has been watered down, standards are low, and students can easily coast along to degrees without much effort if they wish (and many are only in college because they mistakenly think that a degree ensures them a good career). In her column today, Linda Chavez discusses the higher ed bubble, which is bound to deflate once people start turning to lower cost and more effective means of demonstrating their employability.