We now know Joe's elimination of college costs, to a certain extent, is in the toilet since the courts have determined it to be unconstitutional. He wanted to gain votes by paying off young people's expenses. Forget that a survey was taken and 75% of those who were going to receive money were going to use it for fun and frivolity.
Last week Biden was chastising the oil executives for not decreasing the cost of petroleum saying their personal profits were out of line. If this is the cast then colleges across the country should lower the price of tuition on their own the so-called institutions of higher learning in this country are sitting on $700 billion in endowments.
One aspect of being a senior citizen is we witnessed first hand what today's politician s hope we have forgotten. In 1958 the United States got their shorts in a bind because they realized the Russian satellite of Sputnik showed how far we were behind the Soviets. When congress panics they try to make up for their inadequacies by implementing a law that costs the people millions. After Sputnik our congress passed what was called the National Defense Education Act. It provided money to college students who majored in education thereby hoping more young people would become teachers. In 1964 I benefited from this boondoggle. I was able to borrow from the government X number of dollars with the promise I would become a teacher. To be honest I don't know how my Physical Education major was going to defeat Khrushchev but, what the heck, the money was there and I took it. As an inducement for borrowing I only had to pay back one half of that given to me. So, beginning in 1969 I began paying back. It took a long time since I was reimbursing Uncle Sam around $50 a month. That may not sound like much but considering my teacher salary was $7,000 year it surely put a dent in beer money not to mention food, rent and clothing. Well, after three years I got the debt paid off then came to find out there were many who renigged on the debt and guess what? Most of these thieves ended up becoming lawyers and doctors. The more things change the more they stay the same.
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