Whatever they're paying Teresa Ghilarducci, who is "the Bernard L. and Irene Schwartz chair of economic policy analysis at the New School for Social Research," it's too much.

The bolded sentences seen after the jump which Ms. Ghilarducci included in a Friday New York Times op-ed (HT "Mungowitz" at the "Kids Prefer Cheese" blog via Megan McArdle) makes my contention an open and shut case (bolds are mine throughout this post):