I would like to start a discussion on federal government spending. What programs do the federal government pursue that could best be left to the private sector?
Let's start with federal student loan programs. Those are subsidies that go to students who will earn higher-than-average incomes during their lifetimes. People whom support student loan programs argue that college is a public good like national defense. The argument is that if workers are more educated, then the nation's economic growth will be greater.
Although that may be true, people with college educations will earn on average 75 percent more during their lifetimes than will those with just a high school degree; that should provide a direct incentive for people to pay their own college investment, government loan programs are not needed to ensure that a sufficient number of students attend college.
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