October 31, 2014

Obama and Romney on reviving the economy: Blow up the education bubble

TAMPA, October 18, 2012 – Mitt Romney has been able to cruise through two debates with Barack Obama by utilizing a surprising strategy. When Obama has gone on the attack, citing the “draconian cuts” that the delusional on both sides of the aisle imagine Romney would propose as president, Romney has completely defused the president by simply telling the truth.

He’s not cutting anything.

He went a step further during last night’s debate. Like Obama, Romney is not only refusing to cut a single penny from any government program (other than Big Bird), but he’s now on the record that expanding the welfare state is a key plank in his “job creation” plan. In addition to stating “I want to make sure we keep our Pell Grant program growing,” Romney went on to emphasize the importance of keeping student loans available.

Forget the supposedly conservative principle that it is immoral for the government to force one citizen to put up his money to guarantee loans taken out by another, much less force that citizen to pay another’s tuition outright. That principle is long, long gone from the conservative psyche.

What is disturbing is that neither candidate seems to have any idea that their plans for education will exacerbate a bubble that has all of the same characteristics of the housing bubble.

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