After inflation, the cost of textbooks has almost doubled over the last 20 years, and the cost of college education has increased more than any other consumer good or service — by a long shot, according to the American Enterprise Institute. Tuition has almost tripled since 1996.

Why? Mark J. Perry from AEI suggests the growing number of college administrators being hired at higher salaries is to blame for the dramatic rise in college costs.

Image from Mark Perry's Carpe Diem and AEI

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Updated 7 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 18,643,633 — Total deaths: 703,127 — Total recoveries — 11,206,409Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 4,811,128 — Total deaths: 157,690 — Total recoveries: 1,528,979 — Total tests: 58,239,438Map.
  3. Public health: Florida surpasses 500,000 confirmed casesFauci calls U.S. coronavirus testing delays "totally unacceptable."
  4. Business: America's next housing crisis.
  5. States: Virginia launches contact tracing app using specs from Apple and Google.
  6. Politics: White House, Democrats remain "trillions of dollars apart" on stimulus talks.
31 mins ago - World

How new tech raises the risk of nuclear war

Illustration: Annelise Capossela/Axios

75 years after Hiroshima and Nagasaki, some experts believe the risk of the use of a nuclear weapon is as high now as it has been since the Cuban missile crisis.

The big picture: Nuclear war remains the single greatest present threat to humanity — and one that is poised to grow as emerging technologies, like much faster missiles, cyber warfare and artificial intelligence, upset an already precarious nuclear balance.

White House, Democrats remain "trillions of dollars apart" on stimulus talks

Meadows and Mnuchin. Photo: Alex Wong/Getty Images

The Trump administration and Democrats have not agreed to any "top-line numbers" and remain "trillions of dollars apart" on coronavirus stimulus negotiations, White House chief of staff Mark Meadows said Wednesday.

The state of play: Meadows told reporters, "At this point we’re either going to get serious about negotiating and get an agreement in principle or — I’ve become extremely doubtful that we’ll be able to make a deal if it goes well beyond Friday.”