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Issue #16 - federal subsidy to higher education
The stimulus spending recently undertaken by the federal government has disproportionately benefited institutions of higher education. This has produced widespread abuse by such institutions, especially the for-profit and on-line colleges. Education spending is shaping up to be the next in a series of financial bubbles, now that the dot.com and housing bubbles have burst.
Higher education is used as a holding tank for today’s generation of young people who cannot find jobs. Easy access to student loans, which are not dischargeable in bankruptcy, has put many young Americans in a difficult financial situation. It would be best if the federal government focused on creating good, permanent jobs for the young generation (through shorter work hours and trade protection) instead of subsidizing higher education and the new class of hucksters attached to it.
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