Tag: government loans
Student Loan Forgiveness: Bread and Circuses for the 21st Century

In late June Congress acted to freeze the interest rate on certain college loans at 3.4 percent for an additional year, claiming this move would help make college more affordable. Of course, a relative handful of college students saving a few dollars each month doesn’t translate into college affordability—and the Obama administration knows it....
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The Data Don’t Justify Financial-Market Panic

As the hysteria has grown in the discussion of financial markets and related government policies, I have been puzzled by the discrepancy between the best available data and the descriptions quoted in the press—statements by financial gurus, traders, and professors, as well as by government officials. To hear these spokesmen tell the story, you’d...
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Two Unspoken Assumptions in the Credit-Crisis Debate

In the heated, sometimes almost hysterical discussions and debates of the “credit crisis” now swirling through the press, the Internet, and the programs broadcast on radio and television, nearly everybody is making two, usually implicit assumptions: I. The volume of outstanding credit should never decline. II. If the volume of outstanding credit has declined, the government should act to reverse that...
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