On a tangential topic related to endowments: Taxpayer Bailouts for Student Loan Debtors. With the $932 BILLION of endowments mentioned in the article (comprised of marketable securities not old campus bldgs.) why on earth wouldn’t the almost $1 TRILLION of endowment funds be used as the first tranche of debt forgiveness?
On a tangential topic related to endowments: Taxpayer Bailouts for Student Loan Debtors. With the $932 BILLION of endowments mentioned in the article (comprised of marketable securities not old campus bldgs.) why on earth wouldn’t the almost $1 TRILLION of endowment funds be used as the first tranche of debt forgiveness?
Think of it as a warranty of sorts. If you can’t pay back education loans, the ‘education’ you purchased must be a bit lacking right? It’s the sellers responsibility, not the Federal Govt, to deal with their flawed ‘product’. Of course, that’s completely ignoring any personal responsibility and blaming everything on external factors . . . .
The simple purpose of debt "cancellation", i.e. transference of the expense onto the poorer classes who didn't attend college, is to buy votes in the next election so the party can remain in power. As a byproduct, it helps the rich get richer by alleviating their debt, and it helps the poor get poorer by getting even less services for their tax dollars. So it has the exact long term impact of the one thing that liberals say they hate - giving tax breaks to the rich while screwing the poor. Ultimately, this magic trick reveals the one singular purpose of all political parties: to acquire power. Saying they support this or that cause is only their marketing program to attract "buyers".
On a tangential topic related to endowments: Taxpayer Bailouts for Student Loan Debtors. With the $932 BILLION of endowments mentioned in the article (comprised of marketable securities not old campus bldgs.) why on earth wouldn’t the almost $1 TRILLION of endowment funds be used as the first tranche of debt forgiveness?
Think of it as a warranty of sorts. If you can’t pay back education loans, the ‘education’ you purchased must be a bit lacking right? It’s the sellers responsibility, not the Federal Govt, to deal with their flawed ‘product’. Of course, that’s completely ignoring any personal responsibility and blaming everything on external factors . . . .
The simple purpose of debt "cancellation", i.e. transference of the expense onto the poorer classes who didn't attend college, is to buy votes in the next election so the party can remain in power. As a byproduct, it helps the rich get richer by alleviating their debt, and it helps the poor get poorer by getting even less services for their tax dollars. So it has the exact long term impact of the one thing that liberals say they hate - giving tax breaks to the rich while screwing the poor. Ultimately, this magic trick reveals the one singular purpose of all political parties: to acquire power. Saying they support this or that cause is only their marketing program to attract "buyers".
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