BobShaw and theloniusmonk, to add to your posts, both of which are very valid, two of the largest components of the US News ranking (financial resources and faculty resources) are very easily manipulated, prone to inconsistencies in data-reporting, and impossible to evaluate in absolute terms, and yet, that is exactly what the US News does. It compares universities that omit graduate student populations larger than their undergraduate student population from their student to faculty ratios. It pretends that the financials of a 50,000 student university can be compared geometrically to those of a 3,000 student university, completely ignoring the most basic principle of economies of scale. It compares financial aid rewards at a university that charges an average of $50,000 in tuition to one that charges an average of $14,000 in tuition. It compares faculty salaries in universities where 60% of the faculty are Business or Engineering professors, to universities where 60% of the faculty teach humanities and social sciences, or salaries of faculties in expensive urban areas to salaries of faculties in affordable rural or suburban areas etc…
As the saying goes, “garbage in, garbage out”