A Modest Proposal
I spend my business life taking over operations from bloated public agencies, so I suppose I should not be surprised at this picture (via Carpe Diem)
The PPACA has a provision that private insurance companies cannot spend less than 80% of premium on care (vs. administration) or money has to be rebated. I am not a big fan of this provision, believing a free market is a better mechanism for enforcing price and cost discipline than some arbitrary metric like this.
But, since Congress and this Administration thinks this is such a good idea, here is my modest proposal: Public universities may not spend less than 80% of tuition directly on teaching of students, or else they must rebate excess tuition back to their students.
