Telling it like it is:
President Obama has outlined a new plan to ease the strain of student loan debt, and it does benefit some people. Like most of his plans, those it benefits aren’t necessarily those who you and I might agree most need it.
“The people who will see the biggest reductions are people earning higher incomes,” Delisle said. “That is the effect of this change. You put that together with the loan forgiveness, and this is tailor-made for graduate students.”
From The Washington Examiner: The Surprising Winners of Obama’s Student-Loan Program
My question: Were these students lied to about the costs of repaying their debt? Were they bamboozled or were they idiots? No one compelled them to take that debt upon themselves. As free adults they entered into legally binding arrangements where all the terms were known by all parties before signatures were laid to the page.
What are we teaching these people about reality by allowing them to freely enter into transactions and then protecting them from the natural and expected outcomes of those transactions?
Want to help people? Be a capitalist.
Capitalism is the greatest engine for the production of wealth the ingenuity of man has ever invented. Are you interested in helping the poor? Embrace capitalism. Do you want to help clean up the environment? Embrace capitalism. Are you interested in obliterating the scourge of malnutrition or some ghastly African disease or illiteracy or [fill in your personal do-good desideratum here]: yep, embrace capitalism. The global poverty rate, Kevin reminds us, has been cut in half in the last 20 years. Think about that. Then think about the sorrowful history of our species up to about 1830. How much progress against widespread — really, near total — poverty had there been from the beginning of time until then — until, that is, capitalism started to take off? Not much.
When someone comes to you decrying the rapacious greed of evil capitalists, crying “foul!” at the business man, ask them what good the Good Samaritan would have done if he didn’t have the medicine (from capitalist medical research), the donkey (a possession of his own that he used as a resource), and money to pay the inn keeper?
Also, if they are Christian, ask them if God would be happier that they themselves helped the needy, or if they forced someone else to help the needy?
From Roger Kimball: Catholics & Capitalism
Wrapping things up: Hillary Clinton, probably in some attempt to raise her likability numbers before her likely run for President, is trying to tell us she and Bill (does anybody believe he’s any more faithful to her now than he was then?) were broke.
I have news for your Mrs. Clinton: Your definition of “broke” and my definition of “broke” are two very, very different things.