So Who Gets Stuck with the $1.5 Trillion Tab?

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What’s missing from this picture?

Democrat presidential candidates say canceling a total of $1.5 trillion in college student debt will stimulate the economy (https://fortune.com/2019/11/29/student-debt-cancellation-plans-economy/). Instead of shelling out $500 a month to repay student loans, all these Stupid Studies grads are going to go out and buy homes and cars, etc.

So where does the $1.5 trillion go? Does it just disappear? Who’s going to wind up paying it?

Uh… you do! You and I and all the rest of the suckers who didn’t take out enormous loans to go to college.

Doesn’t sound too stimulating to me.

Wait a sec, I have a better idea.

Defund the colleges and looniversities. Stop pouring money into them–federal grants and tuition payments. Discard this preposterous idea that everybody has to go to freakin’ college.

If you really want to stimulate the economy, big-time, and save our culture while you’re at it, get the government out of the “education” business altogether. If we must have public education–really, must we?–return control of it to the local communities where it belongs.

4 comments on “So Who Gets Stuck with the $1.5 Trillion Tab?

  1. Without federal grants and tuition money, tuition would more than double, which is a good thing. Some universities would close down, which is a good thing. Less unqualified people would be able to take out loans to buy a useless diploma, which is a good thing. Fewer graduates means a better workforce, which is a good thing. Sounds great to me!

  2. It would be different if they taught anything useful, but unfortunately that
    doesn’t happen. Apprenticeships do more good than all that class room
    hooey they are dishing.

  3. Hey, I’m all for it. As every regular here knows, I want a Mercedes and with this precedent, I can finally have one. Here’s the plan; the Mercedes I want is about $150,000, but I need to double that figure for maintenance, insurance, license fees and a garage worth of such a car. Actually, I need to at least triple that cost, but let’s just round it up to a cool half-mil’. It doesn’t matter, because when I tire of the payments (month #1) I will insist that they forgive the debt and some other poor slob gets stuck with my bill.

    Of course, a man with a Mercedes needs a better house than mine and a good second vehicle, so let’s add another mil’. If I could fly instead of drive, my life would be better so let’s say a cool mil’ for a Beech Bonanza plus another mil’ for lifetime maintenance, etc. Now a man with a Mercedes and a Beech Bonanza really should have second home; a country estate, so Let’s not be greedy, I’d say that 20 million should do the trick, but it’s ok, because they can forgive my debt.

    Hmmmm? I wonder how much an intergalactic spaceship would cost? 🙂 🙂

  4. First step, privatize the student loan program. Second, allow for bankruptcies. Third, tough love – you took out the loan you pay it back: Suck it up, Buttercup. And of course fourth, get the federal and state governments as far away from education as possible.

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