It is very common for politicians to cause a problem with government intervention and then use the problem as an excuse for even bigger government. I call this the lather-rinse-repeat cycle of government failure.And the current controversy over student loan forgiveness is a perfect example.
- Politicians decided to subsidize student loans.
- Colleges and universities predictably responded by increasing tuition so they could grab this additional money.
- Politicians are now responding to the government-created crisis by pushing loan forgiveness.
I could write a column about how this will make a bad situation worse. Heck, I already have written that column. Several times. But I want to focus today on a different aspect of this issue. Biden on his allies in Congress are pushing a policy that will
redistribute money from lower-income people to higher-income people. Let’s look at some of the findings of a new study
by Professor Sylvain Catherine at the University of Pennsylvania and
Professor Constantine Yannelis at the University of Chicago...........To Read More....