Scott Walker's Risky College Experiment

Since 2000, the percent of state budgets devoted to higher education has fallen from 13 percent to 9.5 percent. This decline in funding has strained public university finances, reduced pay for many professors, and driven up tuition for students. In a new column for Bloomberg View, CFR Adjunct Senior Fellow Peter Orszag explains the factors that have led to the dramatic state university budget cuts, and discusses some ways that states can better manage their higher education budgets.