Freedomworks economist Steve Moore shared his thoughts Monday on "The Faulkner Focus," calling out colleges for their role in the student debt crisis and explaining how angry Americans are about the $500 billion handout.
STUDENT LOAN HANDOUT REACTION: PEOPLE 'ARE GETTING REWARDED FOR DOING THE LEAST AMOUNT'
STEVE MOORE: You're right that Americans are opposed to this policy, but I would go beyond that. I do a syndicated radio show every Saturday on WABC, and we took callers for two hours and people weren't just opposed, they were really angry about this, because people just think it's fundamentally unfair. It's un-American to basically punish people who did the right thing and repaid their loans and make them pay taxes for people who didn't. … The kind of co-conspirators in this crisis have been the universities themselves. They have tripled their tuition above inflation over the last 35 years. So basically what's happening here is the more money we put into the Pell Grant program and the student loan programs, all the universities do to respond to it is raise their tuition. So it's like a dog chasing its tail. So what I think the solution should be, and maybe we could get a bipartisan consensus, if somebody goes to Stanford, and they're making $125,000 a year, why isn't Stanford on the line for that unpaid loan rather than taxpayers?
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