Tip: Do not let your political beliefs filter reality.
But we've seen the opposite happen since this flood of subsidy money into education.
There is no flood. There is actually an anti-flood.
Tuition at University of California schools used to be free for in-state students. Then UCs started charging "fees" that could easily be paid for by working over the summer. Then UCs started charging tuition....in the 1970s.
That is the timeframe you claim a lack of subsidies caused people to get "good" degrees.
Currently, UCs charge a pretty hefty tuition. So there are actually far lower subsidies today.
Also, your claim about "useless" degrees is utterly false.
First, all college/university graduates earn more during their lifetime. Including people with "Gender Studies" and "Art History" degrees.
Second, we produce 70,000 more STEM graduates every year than STEM jobs are created, even after accounting for retiring of older workers. So that "good" degree you cite is frequently just as useful as a "Gender Studies" degree when it comes to economic and productivity increases. Because those people with a CS degree that can't find work will be working at Starbucks just like the Gender Studies students.
For example, now society needs to deal with "protesters" who riot and loot any time that the police need to reasonably defend themselves with force when faced with violent attacks by criminal elements
The 1960s existed. You might wanna take off the rose-colored glasses long enough to notice the riots.
Yet there's silence from these same "protesters" when black-on-black violence kills more people in a single weekend in Chicago alone than have been killed by the police over the past decade.
The people committing that violence are not hired by the government to perform that violence. In addition, they are overwhelmingly likely to be convicted, unlike police officers who kill unarmed people who are not threatening the officer.