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Our paper used Qualitative Document Analysis (Altheide, et al, 2008) to analyze three policy texts central to the Completion Agenda reform movement in higher education. These policy texts were: (a) Reclaiming the American Dream (AACC, 2012), (b) the Strategic Plan 2013 - 2016 (the Lumina Foundation, 2013), and (c) Education Pays 2013 (the College Board, 2013). Three themes emerged from data analysis. The first was "The Economic Narrative." This theme denotes the overarching economic framework that pervaded the policy texts. The second was "Transformation to Unknown Ends." Each text advocated for a transformation that could lead to potentially unknown outcomes. The third was "The Shadow Narrative of Equity" and this referred to the superficial or shadow attention given to equity.