The problem with this is that cutting university budgets without actually cutting things that ought to be cut by doing things like abolishing all programs and departments with names of the form [Affirmative-action-beneficiary-group-name-here] Studies, defunding Multicultural Centers, and specifically cutting the budgets of Offices of Student Life, targeting in particular moneys used for things like "Sex-Positive Freshman Orientation", the cuts will be spread across all academic programs, hitting useful things like engineering and the sciences, just as much as the things that should be cut, and the administrators (who are actually the main source of rot in American higher education, polling to the left of the faculty and paying themselves fat salaries even though they neither teach nor conduct research nor do extension work) will leave their sinecures untouched, requiring "cost centers" (which somehow never include higher administration) like academic departments and the librarys absorb all the cuts.
The taxpayers will still fund the kooks, while harming the departments that are still doing what a university is supposed to do.