what we should be bailing out
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?
I just saw this tidbit from an NYU student group, it’s a brilliant spoof flyer which they claim is made up of all direct quotes:
http://gothamist.com/2008/12/04/groups_takes_credit_for_fake_cuny_f.php
In response to worries about the soaring tuition costs at NYU, the President John Sexton reportedly said “When students come to us having problems staying here, we’ll have to encourage them to take time off, or attend a public university.”
Comment by .hc — December 5, 2008 @ 3:35 pm
“Our banks don’t do those goofy loans,” sums it up pretty well. Apparetly, North Dakota isn’t having any subprime meltdown:
http://www.nytimes.com/2008/12/06/us/06dakota.html
Comment by .hc — December 6, 2008 @ 2:28 pm