Canceling Student Debt

The recent proposal to alleviate student debt up to $20,000 per student is a good deal for students and for the United States of America.

It was a long time coming.

Conservatives, and I am one of them, shouldn’t oppose this deal simply to oppose it.

That’s what people like Sean Hannity want you to do.

How is it a bad deal to give a break to young people saddled with student debt?

It’s what Trump should’ve done.

To begin with the student’s tuitions were jacked up by the crooks at the schools and the banks.

They made out like bandits on this unholy alliance.

That’s one reason why schools were able to fund all these building projects on their campuses.

You’ve heard of Girls Gone Wild. Welcome to Buildings Gone Wild.

It was the students who got screwed.

You don’t need expensive buildings to educate students. Furthermore the problem with expensive buildings is that they require expensive maintenance.

Wise sages in Greece didn’t need expensive event centers in order to teach their students. Teaching under a tree was good enough.

What happened in our country though was that schools got addicted to money. So they increased tuition costs unnecessarily in order to feed their addiction.

Much of that money went into building unnecessary gymnasiums, media event centers, and fancy administration buildings.

The students got screwed.

Printing up money to help these poor students out is a good thing.

Conservatives would have you believe that ultimately we the American taxpayers are going to pay the debt.

That’s not true at all.

In reality, nobody’s going to pay this debt.

The money will be fabricated out of thin air by the Treasury Department and Federal Reserve in order to pay off this student loan debt.

The national debt will increase, but so what?

The national debt is not like the debt that you owe for your house or your car.

In the case of your house and car, that’s a debt that you need to pay back.

In contrast the national debt is a debt that is never going to be paid back.

The national debt never needs to be paid back because it’s never meant to be paid back.

The national debt is a giant Ponzi scheme, only in this case the Ponzi scheme artists are us.

If the national debt rises to $30 trillion, all we need do is print up $30 quadrillion in order to make that debt more insignificant.

Then in 50 to 75 years, when the national debt is equal to 30 quadrillion dollars, people in the future will print up $30 quintillion to make that debt more insignificant.

The national debt, something that the media obsesses over, is something you should never be worried about.

What you should be worried about is where the money goes.

Printing up money to alleviate student debt is a good thing because it puts more money in the hands of regular people.

I’ve written this explanation before, and it bears repeating.

Is there is a net $100 in society, and you have $50, and I have $50, then we both have an equal share in society.

If I print up $100 and give it all to myself then there’s a net $200 in society. Yet I now have $150 where is you have $50. I win.

Do you get it?

It doesn’t matter how much money we print; what counts as where it goes.

If I print up $100 trillion and give it to the rich, then regular people lose. On the other hand if we print print up $100 trillion and give it to the poor, then the rich lose.

Consequently, alleviating student debt, which effectively puts money in regular peoples hands, benefits regular people, not the rich.

Why would we oppose that?

Please, please, please, please, get out of this mindset of just listening to either Fox News or CNN, whose job is to create a mindless sporting match out of politics.

You won’t learn anything there.

Think through the issue yourself.

Alleviation of student debt is a good thing.

It would’ve been a better thing had Biden canceled it all.

Yes, I know, what about the people who already paid?

I agree with you. For that reason, I would recommend giving an equal amount of money in cash payments to those people who already did pay.

Short of that, it’s better that we alleviate student debt.

It’s a good move for regular people.

Sincerely,

Archer Crosley

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