Ramesh writes: “So far, the most offensive policy proposal has been the special debt forgiveness for going into ‘public service’ — i.e., our overpaid, under-accountable government.”
Under the Democrats’ education bill, that policy would apply to 78 percent of all student debt in the country, as opposed to around 15 percent today. At the rate federal subsidies are driving tuition inflation, that’s a lot of money. Obama is talking about creating a very powerful incentive for a very large number of students to go into government or non-profit work. Details here.