To Much Credit

For Education

To the Editor:

President Obama finally admitted he is pro Wall Street, supports “Fat Cat Bankers” and does so at the expense of Main Street. Obama seems like a good man, but he doesn’t understand economics and free market capitalism.

For example, in Monday’s Town Hall, President Obama talked about improving capitalism by increasing credit for education. Is he kidding me? The problem is not lack of credit; the problem is too much credit. Why does college tuition increase every year? Because colleges and universities know the government will always lend students the money. I want my kids and every other child to have access to affordable education. Affordable!

Today tuition is not affordable. These poor kids (literally) are forced to borrow ridiculous amounts of money and start their professional careers with huge amounts of debt. Who is this good for? “Fat Cat Bankers” (aka campaign contributors).

If Washington contracted the available credit for each student, this would immediately force schools to lower prices or deal with lower enrolment. No school wants lower enrollment therefore the same number of students could attend school at a lesser cost.

Sincerely,

A citizen extremely concerned with the direction of America.

Daniel M. Patti, CFP

84 South Main Street, Newtown                         September 22, 2010