Imagine this… the Federal Government promises you if you’ll get a bike you’ll be healthy and skinny and better looking.  Plus, they’ll loan you the money to buy whatever bike you want with no ceiling on the cost.  Just buy it!

You’re young, and dumb so you do it.

Guess what… you have to pay the loan back with interest and you cannot go bankrupt to get out of the repayment.

Still want to buy it?

No, of course not.

  1.  Ownership of a bike does not guarantee the promised results.
  2.  You should never buy a bike you cannot afford.
  3.  You should never, ever take a loan that cannot be walked away from.

Among the many American virtues, we believe in forgiveness and in starting over.  We also believe companies should stand behind their products and suffer the consequences when their products fail.

In this example, the bike manufacture is guaranteed payment… regardless of the quality of the bike they sell you, your health and ability to pedal a bike, your ability to understand the terrible consequences of this decision.  The Federal Government has vouched for your ability to pay and if you cannot or will not pay the loan they’ll get it from your family and friends and neighbors who have no input on giving you the money to begin with.

As a result, the bike manufacturers jack their prices through the roof, why not?  Really, why not?  Plus, they look for anybody who can fog a mirror and make them promises of health for life.  And they have no incentive to get you the proper bike… one you can afford, one that will be useful the moment you get it and for many years to follow.  The legislators look like the good guys for getting you the bike you wanted.

The bike company is guaranteed not to lose, the legislators are guaranteed not to lose.

Guess what you’re guaranteed?

Sounds ridiculous right?  Look at the Student Loan mess we have created by just this line of thinking.

Should we all ride bikes?  Hell yes… and a lot of us do.  We buy what we can afford.  If we fall on hard times we go bankrupt and walk away, if the bike doesn’t work we return it… and that keeps the prices of bikes lower, keeps the quality of bikes higher.

Should we all get higher education?  Yes, of course.  Absolutely.

The fact that the Feds have put our youth on the line for life for education is criminal.  By not forcing the universities to stand behind their own product and find financing that is affordable they have shackled a generation.  Oh, and we’re all on the hook for $1.400,000,000,000.

I’m going for a ride.