The students that do graduate many times can not find work. We are training generations of well educated office workers and low level managers. Look at Spain, Italy and France... even before the Recession, the youth there had 25 to 30% unemployment. Is that what we want for the US?
It is those who are lazy and decide that what ever happens is OK, that are the ones that allow Empires to Fall. And cultures to disappear. Or, for history to repeat itself.