Inflation is clipping at a modest 2.8%; wage growth is slightly lower. But the two things politicians love to talk about — health insurance and college education — they’re booming! Today we’ll see which will win in the figurative boxing ring of rising costs: health or education?
To get the answer we’ll look at data from two sources. The New York Times said two days ago that healthcare costs have risen 78% since 2001. USA Today finds that higher education has jumped 35% in the past five years, adjusted for inflation. Don’t break out your calculator just yet! USA Today generously gets to the bottom of it: “In the past 25 years, the average cost of tuition has risen faster than personal income, consumer prices, and even health insurance.”
So, to make a long boxing match short (and to perpetuate my really bad boxing analogy): Education wins by decision but healthcare would knock education out of its shoes if rounds were years.
Hospital and School image by Dipfan
