If the Y axis on this graph started at 0 instead of 190k, the difference would look a lot less scary. Also, consider the fact that many PTs simply aren't going to take up a whole "1 FTE". Any professor is not a full-time PT. A large percentage of older PTs don't work full time. Many HH or Per Diem PTs aren't going to technically be full-time.
I do agree there are too many schools, and I say that as someone who is in school. Unfortunately that's greed on behalf of unversities, and greed alone. The price is going to keep going up and professors, presidents and admins are going to keep taking home their raises. Wages will not budge and the quality of education will remain the same. They are a business that gets to set their own prices KNOWING that their spots will get filled, because they are the gatekeepers to the profession.
A funny story: A professor at my school asked us what we thought about cutting down program time by 2-3 months (for future classes, not us). When asked why, she said "we're looking at ways to decrease the overall cost for students". Then they raised tuition by $5,000/year.
