From CNN Time (by way of Boots and Sabers):

Marty Nemko, a career and education expert who has taught at U.C. Berkeley's Graduate School of Education, contends that the overflow in degree holders is the result of many weaker students attending colleges when other options may have served them better. "There is tremendous pressure to push kids through," he says, adding that as a result, too many students who aren't skilled become degree holders, promoting a perception among employers that higher education doesn't work. "That piece of paper no longer means very much, and employers know that," says Nemko. "Everybody's got it, so it's watered down."

Basically, they’re saying that a college degree isn’t worth what it used to be. It sure costs more now. At least we can look to our politicians, such as those in Pittsburgh, for a solution to this overabundance of college degrees. Tax the college students! Oh, wait, I’m already being taxed because I’m paying for my own learning. Add more taxes! If this is true about the devaluation of college (and it is), what does it mean about a high school diploma? Is it possible to keep the quality up when it is required of everyone? No, I’m not advocating schools for the rich and not the poor.