Genius! Spend $100+ billion to give away what’s already free…

Well, it’s official. Bernie Sanders dropped out of the US Presidential race yesterday.

This leaves Joe Biden– a career politician with obvious signs of dementia– as the presumptive opposition candidate.

To be clear, I’m not making light of Biden’s mental health. Tens of millions of people around the world suffer from dementia. It’s a terrible syndrome.

But facts are facts, and Biden’s symptoms have been on public display throughout his campaign.

It’s not because he routinely says ridiculous things like, “Poor kids are just as bright and just as talented as white kids.” [Des Moines, Iowa, August 8, 2019]

It’s because he regularly displays:

  • Disorientation (like when he confused the name of his interviewer, Chris Wallace, on live TV last month, calling him ‘Chuck’ instead.)
  • Extreme memory loss (like when he appeared to confuse his wife and sister on stage)
  • Difficulty communicating and finding words (like the above quote about ‘poor kids’)
  • Confusing obvious terms (like when he told a crowd in South Carolina six weeks ago- “My name’s Joe Biden, I’m a democratic candidate for United States Senate.”)

Maybe these are all harmless misunderstandings. But they all qualify as signs and symptoms of dementia. And it’s not unreasonable to question someone’s mental health who consistently displays so many obvious signs.

Of course, it seems like every time anyone brings up Biden’s mental health, it’s either derided as ‘insensitive’, or the response is to slam Orange Man’s mental health as even worse.

Anyhow, this is what the system has produced. So Biden’s team is now working hard to shore up support in their own party by cozying up to the Bolsheviks.

One of his new policy concessions is ‘free university.’ This was a staple refrain of the Bernie Sanders campaign, and Biden is trying to extend an olive branch to those voters.

According to his updated website, Joe Biden will “make four-year public colleges and universities tuition-free for all students whose family incomes are below $125,000.”

This means that roughly 95% of US households would qualify for free tuition (according to IRS data).

The US Department of Education’s Digest of Education Statistics estimates that four years at a public university costs $35,216 just for tuition, and that roughly 3.7 million young people graduate from high school each year.

So let’s do the math: 95% of 3.7 million kids at $35,216 each puts the taxpayers on the hook for up to $123 billion ANNUALLY to fund tuition-free university… hardly a trivial sum.

But that’s one of the bizarre effects of this Coronavirus pandemic. Nobody seems to care about spending anymore.

The US government already passed a $2 trillion spending bill, and they’re already working on a second, $1+ trillion spending bill.

No one is questioning how the country can possibly afford such sums. And that’s EXACTLY the attitude these Bolsheviks have been wanting to cultivate.

The ‘Green New Deal’ suddenly doesn’t seem so expensive anymore. And $123 billion per year for tuition-free university looks positively cheap by comparison.

This is part of what they call ‘Modern Monetary Theory,’ an idea that governments can spend as much as they want, and the central bank will simply print more money to pay for it.

So according to MMT, everything can be free, and no one will ever have to make a tough financial decision ever again. It’s genius!

Moreover, no one ever has to bother themselves with figuring out a better solution. If there’s an opportunity to spend a bunch of money, the thinking ends there. Full stop.

‘Education is too expensive, so let’s spend $100+ billion each year to fix it.’

Well guess what? Education isn’t expensive. It’s free.

Every time I hear some young person moaning about the high price of education, I always ask, “How many free online classes have you taken?”

There are hundreds of courses available online, absolutely free, from places like Harvard, Stanford, and MIT. They literally cost nothing.

These are some of the finest universities in the world offering free courses in Artificial Intelligence, Data Science, Front-end Web Development, Digital Marketing, Accounting, Quantum Mechanics, Finite Math, Art History, Medicine, and just about everything else.

(There’s even one from the University of Maryland called ‘Alzheimer Disease and Dementia Care’ that the Biden campaign may want to check out. It’s also free.)

So there really is no cost to education. It’s the piece of paper– the actual university degree– that costs $35,216.

I’d argue there are more efficient ways to solve this problem rather than sticking taxpayers with a $100+ billion annual tab to give away something that’s already free.

For example, if the Bolsheviks really want to make university free, then they could simply establish a degree-awarding agency within the Department of Education. Let’s call it ‘Federal University’.

It would all be online. And any student who successfully completes a pre-approved curriculum of accredited online courses (i.e. courses that already exist from Harvard, MIT, etc. and are available for free) would be awarded a degree.

So someone who wants to major in Mathematics could complete a pre-determined series of the free, online math courses that already exist, and receive an accredited degree.

In this way the government would be using existing resources to solve the problem in a fiscally efficient way, instead of spending $100+ billion each year of taxpayer funds.

It’s a remarkably simple idea… one of at least a dozen other ideas that a halfway-competent person could think up after spending 15 minutes on this issue.

But you never really see that sort of thinking. They don’t clearly define problems and figure out efficient ways to solve them. Instead, it’s always about raising taxes and spending money.

Lately they’ve been very successful in getting people to stop caring about how much money the government is spending.

And I wouldn’t expect the Bolsheviks to let go of that momentum anytime soon. They’ll think of plenty of other ways to spend your money.

About the Author

Simon Black is an international investor, entrepreneur, and founder of Sovereign Man. His free daily e-letter Notes from the Field is about using the experiences from his life and travels to help you achieve more freedom, make more money, keep more of it, and protect it all from bankrupt governments.