Should the military grant a 4 year "General Studies" degree to soldiers whom have served in the Armed Forces?

I am currently working with a LTC who is pursuing his PhD and at current, is posing a question for a research paper about the military partnering with higher education institutions with the question above.

In an economy with a financial crisis, and knowing that a four-year degree is starting to become the “standard” certification for employment beyond the military, should the military actively push this initiative?

I know from my experiences, working on the civilian government side, that it is virtually impossible to switch to a GS grade job without a degree. With all of the training and education that the Armed Forces provide for its SMs should that equate to an earned degree after service? If so, why? And how long should
the soldier serve before earning a “general studies” degree?