Economist Justin Wolfers points out exactly what’s wrong with this idea and what ideas could serve as a better economic stimulus.
Besides this proposal feeling like a stunt for the attention of young voters by a congressman, and how little thought there is behind it, I think the thing I dislike most is how it ignores the root of the problem.
Too much emphasis has been put on higher education. For years we’ve been telling teens that they need a college education and it’s created a generation of adults who have degrees and can’t get jobs because what they learned doesn’t have value. Meanwhile, some of the most notable and admirable business leaders of our time are college dropouts or don’t even have a college education.
Higher education should be an option, not the only option.
We shouldn’t be finding a way to forgive student debt. That rewards a broken educational system and gives them no incentive to improve. We should be finding a way to make education accessible and affordable by reforming what an education in the 21st century should be. It shouldn’t always be a four-year degree.