The American higher education system, arguably the mightiest arrow in America's competitiveness quiver, is facing a perfect storm. Government support is declining, and tuition is rising; international competition for student and faculty talent is intensifying; and a technological revolution in pedagogy is gathering momentum. Academia, government, and business must work together to address these challenges. The author is worried about the future quality of life of America's children and whether they will have the opportunities that their parents and grandparents had in the past. The author shares his opinions on the future of higher education, and the need for a balance of education in technology and humanities.