Tim Carmody gives his take at Snarkmarket.

Heather (my only reader) says that it’s unsurprising that University costs are so high; she claims that the accommodations and meals are better than at a hotel, what with the sushi bars and high-speed Internet and whatnot. She’s definitely got a point.
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But it seems to me, even so, that we could easily afford give every child in America a complete tax-funded education – all the way to PhD level if they can hack it – for less than we spend on foreign military adventuring. And since we no longer bother to raise taxes to pay for our wars, obviously printing money has not been any barrier to spending in the Obama or Bush administrations. Money’s not really the problem for these people we’ve elected; it’s just a matter of what they want to spend our wealth on – in short, they’ve willingly chosen slaughter over education.