Glenn Reynolds of Instapundit calls it “the higher education bubble” – the inflation of salaries, administrative staff, physical plant, and perks in universities and colleges, all paid for by tuition hikes, parental sacrifice, and student debt, along with vast federal and state subsidies.  The bubble has been inflating for more than 60 years, as college education has been seen as the key to career success in life (and this worth any sacrifice).  But as Herbert Stein said, “anything that can’t go on forever, won’t.”  And now the bubble is starting to deflate. WISC TV reports: The University of Wisconsin-Madison is preparing for potential state budget cuts with a plan to eliminate 434 positions, resulting in a total of 70 layoffs. Of the 434 positions cut, 70 would be faculty, 108 would be academic staff and 66 would be graduate assistants, according to documents provided to News 3. No faculty would be laid off. The...(Read Full Post)