Bad Debt, Good Debt

Sometimes rhetoric is so blatantly, obviously disconnected from reality that it surprises me. President Obama is going around the country calling for more education spending to “help students” who are graduating with an “average of $26,000” of debt after college. (You Tube: here)

The Federal debt is north of $16.7 trillion. If you divide that number by the population of the nation – about 315 million – you get about $53,000 for every man, woman, and child in the nation, and many of them didn’t get an education from the debt.

President Obama is volunteering to be generous to students, with money from those 315 million people by loading their children up with yet more debt to pay down the debt of those who are at least getting an education in exchange for the debt they are incurring.

Words fail me.

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