The Left loves recycling. Just look at the ideas they keep bringing up even after they’ve failed worse than Michael Dukakis trying to look tough driving a tank. One of the ideas that has come back into vogue for the Left is cancelling student debt. And with the possibility of Democrats taking back the Senate as of this writing, the idea may become a reality before we know it.
And in typical current year fashion, there’s a hashtag to promote the idea, #CancelStudentDebt, designed to get the President and Department of Education to use their powers to forgive federal student loan debt. But as anyone who’s seen “Jurassic Park” a couple of times will tell you, just because you can do something doesn’t mean you should. Should we? Let’s discuss it further, shall we?
What the Left thinks it means – a great way to stimulate the economy and allow college students to put their money towards more practical means
What it really means – a way to remove consequences for people who ran up debt studying stupid majors
Back in the day, going to college was a big deal because it meant you had the intellectual drive and economic ability to go. To help people less fortunate, but no less driven, than wealthier families, student loans were created, and it proved to be the gateway to higher education. As time passed and Leftist ideas about education took hold, the value of a high school education got devalued faster than Arthur Andersen’s reputation, so college went from a luxury to a necessity.
Then, Leftists started coming up with all sorts of crazy majors that result in an utter lack of marketable skills outside the halls of academia. Of course, the students who take on these crazy majors don’t find this out until after they graduate with a ton of debt and a lack of ability to do anything more challenging than asking whether you want to Mega-Size your drive-thru meal. Instead of going back to the colleges and universities that gave out the academic equivalent of a Burger King crown, these students (who are all Leftists because that’s what they’ve been indoctrinated to be) look to the government to help them again after asking them for help to get the useless degrees they got in the first place.
Funny how that works, isn’t it?
When it comes to cancelling student debt, I can see what the proposed economic benefits could be. Not having to pay through the nose monthly to pay for the education received would be allow young people to put more of that money towards living expenses, like rent, food, and, oh yeah, the latest iPhones. Just because you have more money to spend doesn’t mean you will spend it wisely. As someone who ran up credit card debt like a scammer at the Moonlight Bunny Ranch, I am proof of that.
Although this will put money back into the economy (at least on paper), it also allows people to run up a different kind of debt. If you think student loans are bad, wait until you see the interest payments on credit cards. (Of course, the Left also wants to cancel credit card debt, but that’s a blog post for a different time.) And unlike student loan holders, credit card companies expect to get paid monthly and have the tools to really make your life a perpetual 2020. Given how much people spend these days to get the latest stuff and their lack of even a cursory knowledge of basic economics, I don’t think I’m going out on a limb saying cancelling student debt will be a bane to the folks who ran up the student debt and a boon for credit card companies.
Here’s a fun little fact to mull over if you support cancelling student debt. The people who tend to default the most on student loans are…doctors and lawyers. In other words, the Left are inadvertently helping former students who could afford to pay their debts, but choose not to. Tell me again how you Leftists are against tax cuts for the rich again…
But there are a few groups of people who will be left behind with this idea. Some people worked their way through college without student loans, while others have been paying off or have paid off their debt. To put it simply, these folks are hosed. Yet, these are the ones who will be expected to make up the shortfalls of cancelling student debt, all while not getting any of the benefits. As it turn out, that may be by design.
When the Left thinks of economics, they think in terms of winners and losers. If someone gets ahead, it’s solely because they took advantage of someone else, even if the former did everything by himself/herself. When you view the world like this, there will always be a power dynamic that has to be “corrected” to make things “fair.” So, the Left will always see those who have paid their debts as the ones with power and the ones who ran up the debts but haven’t paid them as victims.
The one thing the Left overlooks in this dynamic is choice. We choose to go to college, we choose what classes to take, we choose what majors we want, we choose to accumulate debt, and we choose whether to pay off said debt. That’s a lot of choices, and all of them personal choices. That means the people complaining about crushing student loan debt are the ones who put themselves there in the first place. But since Leftists are incapable of accepting responsibility for their actions, they will blame others for the stupid decisions they make and expect the government to bail them out.
But that’s not how it works. The government isn’t there to be your babysitter, nor is it there to fund your dreams of finding a job in the Albino Native American Pottery Poetry field. At some point, you have to realize a lot of the crap you’re experiencing is on you and you might need to figure out how to get yourselves out of it. The first step towards that end is realizing you’ve made some horrible decisions, and I’m not just talking about getting multiple piercings to the point you trigger the metal detectors in airports 3 states over. Take a look at who and what you support and what role they’ve had in shaping your decisions. If they’re the cause or at least the cheerleaders of your bad decisions, they’re not role models; they’re enablers, and they might just be making a buck or two off your misfortunes.
In the meantime, let’s take the hashtag activism for a walk on the responsible side. Even if you agree with the #CancelStudentDebt notion, there are parts of it that, if unresolved, will lead to the biggest producer drop-out rate since Atlas Shrugged. And without someone else’s money to fall back on, what will Leftists do?
Probably create another hashtag.