Word: borrowers
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Congress has now responded to the howls of frustrated parents with new financial-aid rules that are meant to make college more affordable to the embattled middle class. Starting last month, any family, however rich, may borrow the entire cost of college, however expensive, with low-interest government loans (though interest payments are not deferred as in other federal loan programs). Outright federal grants will still be scaled to financial need, but home equity and family farms no longer count as part of a household's assets, which means more middle-class families will qualify...
...know you are not fond of the usual band of Crimson writers who hound you for post-game interviews and lambast you on this page. Go ahead, borrow a page from former vice president Spiro T. Agnew (that's a politician that you probably remember) and call them "nattering nabobs of negativism." They don't understand just how difficult your job really...
...turning point in the history of civilization. What has changed the terms of debate in this election is that people have begun to realize how painful and unsustainable the current way of doing things is. We can't borrow a billion dollars every 24 hours. We can't tolerate 40 million working Americans with no health insurance whatsoever. We can't tolerate a 29% dropout rate, an epidemic of violence and drugs and AIDS. We have to respond to these realities, and people are now willing to consider the changes that our nation must go through...
...reality is different. Borrow-and-spend economics has given us the debt everyone is so concerned about the (the federal deficit for the month of June was higher than the deficit for all of 1979), and all that spending hasn't given the nation high returns in productivity or living standards...
This, in turn, means borrowing for any purpose is more expensive--so businesses borrow less for new capital (along with everything else), and jobs aren't created. This is what economists mean when they say private investment is "crowded out" by the debt...