As long as we have prices, the government will have a budget. And reducing the interest rate on loans with a high delinquency rate compared to other loans means that we will have less money to do something else. Giving people free tuition will also mean that the government will have less money to do something else — a lot less money. Sanders tries to deal with this problem by conjuring hundreds of billions worth of imaginary tax revenue out of thin air, but alas, the actual president will have to find real money, taken from some other use. Is subsidizing the folks who are going to end up as the best-off members of society really what we would choose to use that money for?
He was told there would be no economics.
[Update a while later]
Bernie Sanders: The economics of a toddler, and the ethics of a thug.
In other words, a typical leftist.
[Mid-afternoon update]
Sort of related: A liberal professor has given up on academia.
[Wednesday-morning update]
Last link was broken, fixed now.
Socialism isn’t an economic system. It’s a political system.
“He was told there would be no economics.”
More accurately – he was told there would be no reality.
Bernie’s economics adviser, Baghdad Jim, would not be reached for comment.
He’s on board with Bernie? Like Mary Poppins, I thought the ACA was positively perfect in every way, so is Jim now supporting Single Payer?
Guys don’t forget that Bernie could do what Obama did when he needed money, print it.
“folks”? That’s one step above “homeskillets.” What the hell is happening to American English?
Last link doesn’t work.