Federal do-gooding programs have proliferated and are a primary cause of the soaring federal deficit. The programs, however, are generally stupid and never accomplish what they are intended to, unless they intend was to help rich people get richer while bankrupting the country. Here is another example, making unlimited federal loans available for graduate school programs. As anyone with a brain, which once again leaves out pro(re)gressives and federal bureaucrats, not to mention Congress, could have figured out, giving people access to more money just means they will borrow more, not that they will put it to good use. And they didn’t, as they number of people who actually finished a graduate program did not increase. Nor did the uncapping of loans increase access to graduate programs by the “underprivileged”, i.e., whatever skin color, religion, sex or sexual orientation is currently favored by the whackos in charge of universities. And now of course, these federal loans are being forgiven, illegally, by the Bidementia administration. So the deficit increases, we got nothing for the money, and oh, here is another little bonus–the graduate programs raised their prices. Kind of the way when you subsidize electric car purchases the price goes up by the exact amount of the subsidy. And university professors, who are grotesquely overpaid, got even more overpaid. All in all, a typical government program, that benefits no one but bureaucrats, and as I said, the already wealthy. (NBER Paper)
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About this Blog
The Healthy Skeptic is a website about the health care system, and is written by Kevin Roche, who has many years of experience working in the health industry. Mr. Roche is available to assist health care companies through consulting arrangements through Roche Consulting, LLC and may be reached at [email protected].
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