December 5, 2008

what we should be bailing out

Filed under: thinking — .hc @ 2:46 pm

So we are now in the depths of a economic crisis mostly caused by vast and irresponsible borrowing and free spending. How can the solution to this problem be to borrow a lot more money and give it to the worst offenders? It seems that the discussion of “the bailout” is totally binary: should we bail out these corrupt, failing giants or not? I’d like to suggest we instead take all that borrowed money and spend it on something that is well proven to improve the economy: education. But the reality of education in the US now is that it is getting worse and worse, and harder and harder to access. According to the New York Times, college tuition and fees is growing far faster than the already egregious growth rate of medical spending.

So how about we bail out the people who are losing their jobs and make sure that they can get access to high quality education so that they can improve themselves and the economy?

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