Thursday, January 29, 2015

If Oil Companies Did This...

So the President wants two years of "free" college, eh? Boy, didn't see that one coming. Of course, nothing's "free," the cost is only transferred to someone else. In the old days, we used to call that theft. Today, it's called 'compassion,' albeit with someone else's money.

Understand--this was inevitable. The administration has already saddled the taxpayer with $1.1 trillion in student loan debt, accumulated by a generation of ill-advised consumers who still think a four-year liberal arts degree is the pathway to success. Would that it were true. Indeed, research from the Center for College Affordability and Productivity found that nearly half of the nation’s recent college graduates work in jobs that don’t require a degree. Meanwhile, the cost of the ubiquitous social science major has gone up faster than almost anything in the consumer price index--including health care and energy.

Imagine what would happen if instead of hiking productivity and lowering prices, big oil had gouged customers the way higher education has over the last few decades. The fact is education in America today is a government monopoly run solely for the benefit of the Democratic Party's most influential special interest lobby. That's why administrators aren't called to account for the rising cost of a product that seems to have less value every year. The Obama administration promises to 'rate' colleges and universities, but that of course means that higher education will conform even more to the 'politically correct' agenda which has already given us such rigorous coursework as the 'U's' "Sociological Perspectives on Race, Class & Gender." Beats hell out of petroleum engineering.

The only way out of this mess, as with health care, is to stop subsidizing it. Federal Pell grants, which unlike student loans don't have to be repaid, are now closing in on $40 billion per year. Remove the third party subsidy and consumers will demand the best bang for the buck--which in this case would probably result in more plumbers, auto mechanics, and machinists and a lot fewer bartenders with degrees in social work. And so it goes.

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