The February 7, 2005 report by the Honorable Bob Rae--"Ontario: A Leader in Learning"--focused national attention, at least fleetingly, on a matter of prime importance to Canada's future: vulnerable state of higher education in this country, a subject that has, unfortunately, largely escaped serious public discussion. Although Mr. Rae, a former Premier of Ontario, focused his review on post-secondary education in that province, in accordance with his mandate, the findings and implications apply with only minor variations to the entire country. The thoughtful, well prepared report, which presents a seven part strategy and 28 recommendations for change, has been enthusiastically received by Ontario university and college administrators and most media commentators. With regard to the Federal government, the Rae report underscores its role in enhancing student assistance, facilitating the recruitment of international students and study abroad by Canadian students, and raising the participation rate of Aboriginal students. What the author of this article would have liked to see in this report, given Mr. Rae's high stature, well beyond Ontario, is a roadmap for substantially increasing federal government participation in correcting the under-funding of universities. The author asserts that despite its failure to adequately address the federal role, the Rae report is, on balance, the most constructive analysis of the post-secondary education sector in decades, and its recommendations must be promptly implemented.