As unemployment rates continue to rise, they’re rising particularly quickly among teenagers, bringing teen unemployment nearly to a staggering 28%; and that’s “the highest ever recorded since the Federal Government began tracking it, and it’s almost triple the 10% rate for all workers.”
Unfortunately, it seems as if the government has every intention of not wasting this crisis. The proposed solution? Nationalizing the student loan industry to send all those unemployed teenagers to college instead. This is a nightmarish prospect, as most government “solutions” are:
The bill is virtually guaranteed to harm students and there will be no fiscal responsibility in it.
Indeed students have been screwed by “student aid”. So called “aid” to nearly anyone, helped drive up the cost of college education. Students are now reaping the “benefits” of that aid: no job but hundreds of thousands of dollars of debt. Government needs to get out of the aid business. It screwed up housing with “affordable housing” programs and it screwed up education with student “aid”.
Read more on the situation here.Published in