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A Labor Day Slap in the Face to the American Worker

August 30, 2022 By Debbie Young

By GNT STUDIO @ Shuttertsock.com

If you are among those who do not want to foot the bill for college courses on gender studies, political science, philosophy, and feminist theory you are not alone. Mike Rowe, host of “Dirty Jobs,” accuses the Biden Administration’s student loan forgiveness plan of being the “biggest pre-Labor Day slap in the face” to American workers.

“I work hard on this page, (not as hard as I could, perhaps, but pretty hard), to avoid the politics of the moment, and comment only on topics that impact the foundation I’m proud to run – a foundation that awards work-ethic scholarships to individuals who choose to forego an expensive, four-year education in favor of a skilled trade.

When I do weigh in, I try to acknowledge both sides of the argument, and make my points with as much respect as I can muster. Today, however, I can see only one side.

Today, I can find nothing to respect in the President’s decision to transfer billions of dollars in outstanding student loans onto the backs of those people my foundation tries to assist – the same people I’ve spent the last twenty years profiling on Dirty Jobs.”

A Message to the Uncredentialed – Screw ‘Em

From Charlie Cooke:

Another answer that won’t fly is, “To lower the cost of education.”

As President Biden made clear today, this is a one-time deal, a lottery, a lightning strike. People who paid off their loans last week aren’t covered. People who will take out new loans after the policy has run its course aren’t covered. The problems in the system aren’t addressed. The colleges, and their endowments, are left unmolested. American culture’s increasingly credentialist presumptions aren’t altered. Within four years, overall debt will return to its present level.

With the stroke of a pen, the already-fake deficit savings within the Inflation Reduction Act will be wiped out. This isn’t a reform. It’s not even pretending to be reform. It’s a contemptuous, abusive, unbelievably expensive shot in the dark — the net effect of which will be that fewer people correctly calibrate whether college is worth it, fewer colleges change their offerings to meet market demand, and, because this sort of executive giveaway will now loom large as a possibility, fewer people feel the need to save for college.

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Debbie Young
Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, driving her Porsche Boxter S through Vermont and Maine, and practicing yoga.
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