We all know by now that a college degree is not really worth getting. Or is it? There are enough arguments on both sides of this issue to make everyone mad. Come, explore—it's cheaper than a college class!

The WSJ today makes a strong argument that college degrees are still pretty damn valuable, which would explain the locust-like hordes of freshmen still plaguing US campuses. Consider:

  • "The unemployment rate for workers 25-and-older with a bachelor's degree or higher was 4.6% in August, for example, compared with 10.3% for those with just a high-school diploma."
  • "Laid-off college graduates are also finding work faster. Their median duration of unemployment was 18.4 weeks as of August, compared with 27.5 weeks for high-school grads."

Okay, sure, great! But then again:

  • "[The college degree] wage premium hasn't climbed much since 2001, after rising sharply for two decades."
  • "College tuition has also grown faster than the rate of inflation for more than two decades, including a 6% increase in 2009-a period when overall prices fell."

So sure, a college degree will probably get you a better, stabler job—but that guarantee is getting shakier. And don't forget all that college debt! It sucks! (And we won't even get into law degrees, for fear of offending attorneys' delicate, litigious sensibilities).

Go to college, kids! Just not for the fall semester. They're getting rid of that one. Budgets, you know.