Should we end student loans? Does your answer change if we kill federal corporate loans, bank bailouts, wall street bailouts, farm subsidies, etc.?

Photo above - congress created bank bailouts and wall street bailouts in response to the 1929 market crash. now we have $40 trillion in national debt.

I was going to start this column with a recap of all the worthless college majors, and the number of students who either fail to get a degree, or those who do graduate and renege on their loans. But that would be a big yawn. Everybody already knows you can’t find meaningful work with a degree in Art History, French Literature, Philosophy, or Cultural Anthropology. That’s why your bartender or Starbucks barista is a such a clever smartass. Over-educated for their jobs, and bitter about a financial hole they can never climb out of. Permanent renters, or residents in mom's basement.

We should at least stop bankrolling that stuff. If someone wants a to become a lawyer, make them get a loans from a banks – it’s not the governments job to create more parasites in society. I’m even skeptical about loans for those getting undergrad teaching degrees. Turns out those seeking teaching degrees have the lowest average SAT scores next to physical therapists. Maybe teacher loans only if your SAT score is above average, and you test drug free?

But I don’t want to single out college students. Who thought bailing out GM was a good idea 20 years ago? The UAW, for sure. But how did that help you or me? Toyota was eager to buy the entire company for hard cash, modernize many factories, and expand production of Camry’s, Corollas, Prius, et. Who wants to drive chevy Bolt or Volt? Or an $80,000 Chevy Silverado pickup that gets 15 mpg?

Same goes with banks. In an ideal world, the government would step in and start jailing corrupt and incompetent bank officials before a complete takeover is the only hope. Under today’s rules a bank CEO can ruin his company AND keep his job after the FDIC takeover.

I also don’t want to throw tax money at Wall Street, prop up incompetent state and local governments, build windmill factories, or install tax exempt solar panels on the roof of that guy driving the $80,000 chevy Silverado. Tesla, SpaceX, and peanut butter strategic stockpiles can go to hell.

Turns out we actually needed more missiles to deflect terrorist drones, but nobody thought to buy any of those.

If we’re ever going to stop adding to the $40 trillion national debt, we have to stop throwing cash at losers and charlatans. Let them plead to banks and wall street for their loans and pay interest rates commensurate with their risk. And then don’t bail out the banks and wall street when the loan decisions were shitty.

But congress will never agree to those rules. All the people getting loan forgiveness, bailouts, subsidies etc. vote in elections. And our politicians are terrified about having to win elections based on anything other than handouts.

I’m just sayin’ . .

badminton · 61-69, MVIP

Our $40 trillion debt was caused by giving huge tax cuts to corporations and billionaires. And a hugely excessive military budget.

Almost all advanced countries have free or very low cost higher education.( I mean free at point of use. They consider college a necessary investment and are willing to pay taxes for it.) To prosper nations must have scientists, engineers, skilked technicians, doctors, nurses, etc.

As for liberal arts degrees, most countries see literature, art, etc, as part of their culture. Such studies are respected and considered worthwhile. "Man does not live by bread alone."

Banks make a huge amount of money off student loans. They charge student borrowers 20x or more the interest they charge banks and businesses to borrow money. Only in the U.S. do students end up with a ball and chain of cripling debt that will take decades to pay off. And the interest keeps building all that time.

Maybe reforms are needed, such as directing students to the most needed fields, and limits on changing majors, etc. But America would be a better, healthier country if we respected education and culture more, and amoral greed less.

I want my taxes to go for domestic improvements and public services, such as free/low- cost public education , NOT military spending and bail- outs, subsides for corporations and the super wealthy.