Of course rich possessors of some of the finest capital would prefer to have someone pay back their loans for their investments, even while reaping the rewards of the tremendous salary differentials gained by participation in extensive college education. At one level, as an economist, I completely understand the rent-seeking behavior of those in debt wanting someone else to pay for the debt, the benefits of which primarily accrue to themselves. Yet I ask those students, have you no shame?

Yet the real question is for the political proponents of ANY level of debt payment via the U.S. taxpayer: What is the public interest rationale for this? Under what value system is it not an injustice for the average taxpayer to foot the bill for the capital development of highly skilled workers, while taking that money from those that often do not even go to college? What are you going to say to the thousands of prudent college students who worked hard to keep their debt low, as well as to those who have paid back their debt because it’s the right thing to do? Suckers!

$30T and counting–and counting faster every day.

EDIT Update: This! HT: WSJ