The problem is, “forgiving” debt doesn’t make it go away, it just shifts the burden. These “loans” effectively become grants, and the taxpayers are left footing the bill. This is a classic example of concentrated benefits and dispersed costs.
Patrick Carroll
Patrick Carroll has a degree in Chemical Engineering from the University of Waterloo and is an Editorial Fellow at the Foundation for Economic Education.
Reagan’s Goal to End the Department of Education Is Finally Gaining Momentum
“By eliminating the Department of Education…we cannot only reduce the budget but ensure that local needs and preferences, rather than the wishes of Washington, determine the education of our children.” – Ronald Reagan
Here’s How DeSantis Should Revoke Disney World’s Privileges
How can we preserve the benefits of self-governing districts without the cronyism that so often goes along with them?
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