If you want to see how the political elites break things, they touch then the Federal Direct Student loan program is the perfect example of how their spectacular incompetency works. It all started in 1973 when a group of these political elites decided that it was an innovative idea for the government to get into the student loan business. You know the very political elites who knew zero about leaning money. They knew nothing then nor do they know now the steps needed to qualify for a loan. They knew zero about the payment plan vs. the cost of the loan. Nor did they know anything about the value of what the loan was being paid for. In other words, they did not know if the classes that were being taught would help the student to repay the loan. The political and higher education elites could care less if the classes were worthy of these loans. We know this to be the case because there was zero checks and balances of the dollars invested and the return the students got within the marketplace for that education. So, with no knowledge or understand or experience they created a multi-trillion fund backed by the American people who had zero say in any of it. With that as the framework what could possibly go wrong?
For the Universities it was a boon to them. Here is why. With a government back loans for their students they could jack up the price because there was zero risk to them and the students with government back loans. For them it was eat, drink and be merry for tomorrow we may die. So, they abused the system to benefit not the students but the education system, which they then made political to protect the corrupt system they help create. Therefore, so many including me see the campuses of higher learning as first 50% political indoctrination and 50% education with a bent of a political view on even that which is their chosen degree. The Department of Education became political and when it did the educational scores of our students declined as other nations quickly bypassed our failing systems.
No other industry and I mean nothing beat the rate of inflation since 1973 that the schools of higher education. Frankly, these schools and their leadership have ripped off the government and the American people for nearly 50 years. Consider this fact, since 1973 the cost of education when up by 2,107%. Even worse the political elites never wanted to connect the dots because the educational elites were supporting them with converts to their political views who would also fund them with additional grants for all sorts of projects. What a racket because it is yet another Ponzi scheme today totally $1.75 trillion in federal student loan debt. How do I know it is a Ponzi scheme? Easy we just had one many who claims to have the power to with a stroke of a pen to wipe out $300 to $500 billion in Student loan debt. Have you notice that regardless of the industry today the wealthiest elites are now on the left. This is because these political elites move trillions of government funds and loans within all industries and do so with likeminded political elites who need all the political coverage to hide within the shadows of government funding.
The write off of $10k per student translates to $2k that every federal taxpayer as to pay. So, every married couple owes $4k or 40% of the student who did not pay the loan. Most of whom could not afford to go to school and were fearful of taking a loan they could not back pay. So, Biden with a stroke of a pen allowed the schools who have billion and billions in reserve from their outrageous over charges by bypassing their role in creating the mess and instead charged the everyday truck driver, waitress, office clerk, and allowing the liberal educational elites to hand on to the billions of dollars they got from the everyday taxpayer.
This is so typical of the liberal government elites to fund and then protect the very liberal systems that over charge and under deliver at the same time. If you want to know why we have $30 trillion in debt, and $300 trillion in unfunded liabilities now you can see why because this kind of nonsense is happening throughout every single government agency that wants more power and authority even as their failure rate is increasing at levels today that are shocking.
Here is the irony, those who are at the center of all these financial storms use capitalism to mask their socialist policies and views that are unsustainable. Those who benefit from this thinking are the true believers in eat, drink and be merry for tomorrow we may die. They simply do not care today for the high price all will pay tomorrow. It is selfish, irresponsible, and dangerous because it places hundreds of millions at risk for a failure that was always unavoidable. It is not logical; it is not noble, and it is immoral what the elites have done to everyone. This is what happens when a group of people have control of other people’s money with reasonability or negative outcome to them. Many have been elected repeatedly for 40 years with this horrible track record. Those not elites not elected but appointed also have no negative outcome.
But there is a negative outcome for the everyday American. We see it right now in the form of inflation, higher energy, food, and living costs. All of it was cause because of dangerous liberal policies supported by the left and the right. I am smart enough to know liberals who are fiscally conservative and smart enough to see so called conservatives who are completely irresponsible fiscally.
I do not care about your politics left or right, but if you spend more than you take in taxes then you are a political elitist who places everyone in clear and present danger. Frankly, right now we have a ridiculously small window of time to pull out to a side channel of a raging river that has at its end a massive waterfall that will kill all that we value about our American way of life. If you cannot control the money of the country, then you should not be in power to run the country. If you believe its morally justified to enslave future generations of Americans into the slavery of debt so that you can eat, drink and be merry at the expense of others then you are a danger to those of us who are not willing to be dragged over the waterfall because you want to party on debt you passed to others.
Seriously we need a balance budget amendment and cut government spending by 40%, they are not to be trusted with your money. Give yourself a raise and defund the political elites, they do not care about you, they never did, they care about power, praise, camera time, and the wealth they generated on the size as they spent that which was never theirs.
Just saying the obvious once again.
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