Write Off the College Debt? How Would You Vote? For or Against?  episode artwork

EPISODE · May 2, 2022 · 46 MIN

Write Off the College Debt? How Would You Vote? For or Against?

from The American Enterprise Manifesto: My America's Vision of Peace and Nonviolence for Humanism · host Jerry Rhoads

Write Off the College Debt? How Would You Vote? For or Against?  Progressives like AOC and Liz Warren say just write it off. Realists say, that amounts to One thousand six hundred billions = Sixteen thousand billion = $1.6 trillion write off to alleviate certain selective voters of their commitment.  This will not cost the taxpayers one cent because there isn't enough collected in taxes ($4 trillion) to pay for only half of the proposed $7 trillion budget for 2023 and entitlements of $3 trillion per year. Currently, any additional cash outlays have to be borrowed.  The current administration's deficit spending bills further drain America's ability to pay cash for anything.  Everything in the Build Back Bigger Government's Green New Deal Infrastructure bill and the American Rescue Plan require funding for the next ten years with more debt ... US securities and currency issued by the Fed, US Treasury and annual cost of the $1 trillion imbalance in trade (operating loss of GDP).  Let the supporters of gift quo pro who believe that the USA can fund anything by just printing currency.  Like the Fed printed 300 years worth of treasuries in 2019-2021 to fund the Pandemic shutdown. This mentality is continually inflating our economy and derivative bubble.  And is destroying the value of the dollar around the world.  So, a voter of yes for any level of write-off deepens the debt to GDP deficit.  It currently is 125%.  Adding another $1.6 trillion is insane.  In a bailout of this bankrupt position the colleges and universities that profited from the incurrence of the debt must get a haircut not all Americans.   Someone said on TV well the debt is due to the cost of education.  No! It's increased prices by the colleges and universities who are quietly blaming the government not themselves.  So, 'who should take the loss ... in business its the perp that takes the write-off, not the guarantor if the perp violates the agreement.  But oh no the perp should have all of us pay their increased cost for salaries and benefits of the professors and overhead.  The average salary for professors $143,000 in collages and $350,000 in big name universities. Plus another annual pension debt of $70,000 forever for collages and $150,000 for universities.  Let the professors pension plans pay their share of the write-off.  Also, let the endowments pay their share.  There are 7,021 colleges and universities in the country in 2021.  The average endowment fund for colleges is $10 million and $100 million for universities.  That's total of $7 trillion in funded and unfunded endowments sitting off balance sheet and a derivative of the college debt incurred by the students.  In addition to the endowments tax exempt colleges and universities own more then $100 trillion in property, buildings and equipment. Let the endowments pay its share of the write-off and let the colleges and universities reduce their prices by reducing their escalating costs pass through the breakeven point.  Its a business and there is no way to make it every American and their children's children's responsibility.  99% of the colleges and universities are tax exempt and have accumulated billions annually from that exemption.  Let the college and universities tax exemption pay its share of the write off of the college debt.  Let them borrow the money as they want the government to do. This type of problem analysis and solving must be applied across all facets of wasteful governmental institutions by using Free Enterprise quasi reorganization plans to save the Republic.  Read The American Enterprise Party Trilogy Volume Two the manifesto, for how this can be accomplished with a third party swing vote in Congress. 

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Write Off the College Debt? How Would You Vote? For or Against?

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