Obama's Idiot Plan to Revive U.S. Skilled Economy

Everyone champions education. Without a properly educated class, the skills necessary for a thriving economy in a globalized world will be scant.

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Politicians never tire of boosting about how 'we need more spending for education, education, education' and on and on and on. Politicians also believe in handing out goods to people for 'free' - in other words: taking someone else's money and redistributing in a new entitlement. Politicians like entitlements more than anything, because they can then boost about how 'generous' they are in their campaign ads: 'I'm helping the working man and students'.

And Obama is now combining education and entitlements in a new idiot plan for making the U.S. work force more skilled and the U.S. economy better equipped for a more competitive world.

Here's Obama's plan as he stated in his State of the Union address this week:

And let's tell another one million students that when they graduate, they will be required to pay only 10 percent of their income on student loans, and all of their debt will be forgiven after 20 years -- and forgiven after 10 years if they choose a career in public service, because in the United States of America, no one should go broke because they chose to go to college.

Forgiven by whom? Taxpayers. So now it is not enough that you have to save money and make sacrifices over the years to pay for your children's college education, you know have to be taxed more and make more involuntarily sacrifices due to lost income to pay for the tuition of an additional one million students. Nobody has the right to education and certainly not an expensive education. But what Obama is telling students is: have an entitlement to go wherever you want because I'll force the taxpayers to pay for it. So, let's say, a middle class kid previously settled on a state school because its cheaper and did not want to be burdened with students loans by going to a New England Ivy League. But with Obama's promise that he'll own have to pay 10% of his income on student loans - 10% is 10% wherever he goes - that student may now go to, say, Harvard for a cost of, 'o say, roughly $200,000. If he can afford it or will pay the loans entirely himself, good for him. But he intends now, because the 'generous One' has told him his fellow Americans will be forced to pay. So let's say that student graduates and takes a career which pays the American median income: $47,000. With Obama's loan-payment cap, that students now starts paying off his $200,000 loan at $4,700 a year. And let's say he maintain that income level for the next 20 years - before his loans are 'generously' forgiven - after 20 years he has managed to pay off $94,000. Thus the taxpayer has to undertake now the burden of $106,000. But let's take this theory further. First, let us assume that his income naturally rises over 20 years. And he managed to pay off $150,000. There is still $50,000 left. And still a taxpayer burden.

But let's go a step further. Obama and fellow leftists think that there is nothing better in the world than 'public service'. For them, better to be an employee at the Agriculture Department figuring out next year's farm subsidies distribution than to be an innovator in Silicon Valley. Besides a few months early upon graduating college, Obama has spent his entire life in either the public sector or working as a 'community organizer'. The business of America is business, but Obama has not heard. For liberals, the private sector is evil and motivated by greedy and money-worshiping people. While those attracted to the public sector are seeking a career of 'service' and aiding one's fellow man and are just better people moved by higher and lofter values. This is a delusion. First, when it comes to 'service'; compare the so-called 'service' at the DMV, USPS or any other state entity with your local supermarket or bank. Second, the government is mostly not a producer, it is inefficient, wastes tons of money and big government burdens the private, productive sector with taxes and regulation. And people attracted to public service are not better. This 'philosopher kings' argument should have died a long time ago. On the contrary, government and certainly the elected class attracts people motivated by vanity and a bottomless ambition to tax and control others. In other words: the lust for power.

So Obama wants people to join the public sector and thinks that those who join this 'better' profession should be rewarded and implicitly those who take the 'evil' road of - gosh! - seeking a productive job in the private economy should be punished for their wickedness. That is why he has created an incentive for public 'service': instead of loan forgiveness at 20 years you'll get it in half them time. Back to our Harvard grad: motivated for loan forgiveness in 10 years, he takes a job at, say, the Commerce Department (he may not stay after ten years, but he calculates until then so he can pass off his loan debt). The average federal salary is $63,000. Let's say he gets several raises during this time and that brings his median over ten years to $70,000. At 10% a year for 10 years, our grad pays off $70,000. Leaving the taxpayer with $130,000 to pay off. Now multiple this by one million students: $130billion! That's billion with a muthafin' B. $130billion!!!

So this is Obama's idiot plan: he intends to make the U.S. economy more competitive by 1) raising taxes to pay for $130billion in student loan passing off to taxpayers 2) push people from the productive private sector - in other words: the economy - into the bloated, wasteful and uncompetitive weighing-down force against the private sector known as the government 3) raise taxes some more to pay for the increase in government jobs. Unlike private sector jobs which pay for themselves in profits by contributing to the economy, government jobs require taxation to pay for and almost never provide any meaningful contribution to the nation.

Add to this the opportunity cost of grads moving from productive work to unproductive careers. And Obama thinks this will help America.

Few things are better calculated to undermine America's economic future than more taxes, more entitlements, more unproductive government workers (most vote Democratic, that is why Obama favors them), and a less vibrant private economy. Only delusion liberal could come up with something so destructive on so many levels.

It is almost too much to take in in its stupidity.