California's Proposed Solution to Student Debt Will Cost Tax-Payers $1.6 Billion (in Just the First Year)
As California's economy continues to be crushed by debts exceeding $1.3 trillion, the last "solution" any sane person should propose is a measure that adds another $1.6 billion to the already-bloated tab. But, then again, we're talking about Democrats here.
The latest push for relief targets the 55% of California college students with an average of $21,382 in student debt. A new program called "Degrees Not Debt" is being pushed by Democrats in the California Assembly, sold as relief for students unable to pay back loans. The initiative supposedly alleviates students' crushing financial burdens — by shifting even more responsibility to the tax-payers instead.
Expected to be proposed in 2018 (after falling on the back burner earlier this year), the ironically-named "Degrees Not Debt" program will plunge California students further into the welfare state by paying for their rent, books, transportation and other costs.
The "Degrees Not Debt" page declares:
Of course, rent, books and transportation aren't free. Someone has to pay for them, and it just so happens that tax-payers will play patsy once again. The program, according to the Democratic Caucus, will cost $1.6 billion its first year, then $1.2 billion annually once "phased in."
Taking money from tax-payers to redistribute to "qualified students" is socialism, pure and simple. It creates no incentive for students to ever stop being students. After all, once they join the rank-and-file of non-students, they're the ones on the hook for the new students.
Only in a leftist state can more debt be viewed as a solution to existing debt. If the measure is passed, how long can California keep up before the entire Ponzi scheme collapses?
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