Alas, here is another article on how the increase in journal prices (especially science and medical journals) has led another university their collections.

Christiana Vardaand Bethany Fehlinger
Increasing journal prices poses problem for library.
The Digital Collegian, March 17, 2005

The article states "if the library continues purchasing serial journals, it would run out of money to buy any material at all by 2015. In the past 17 years, a 260 percent increase in serial journal costs has been recorded."

One way they are looking to help control costs is to avoid duplication, cut 6% of the journals, and explore more online schollarly resources.

What was interesting is that the article mentions that some faculty members do not realize the cost of the journals in the library. I personally find this to be SO TRUE. How many doctors have come up to you asking for the Journal X which is mega bucks? Most of them just think that the library is only paying a few hundred bucks for a journal (or for online access), they have no idea that institutions pay A LOT more.