America is currently dealing with a host of serious problems.
Rampant illegal immigration and the rise of infectious diseases are only two of the glaring problems the nation faces.
But another growing crisis that nobody is talking about will soon lead to a collapse.
The United States is currently $22 trillion in debt.
Congress has failed to rein in spending, and now the national debt is a runaway train.
The interest on the debt is accruing at $100 million per hour.
Two-thirds of the federal budget is spent on Medicare, Medicaid, and Social Security, and the cost for these programs is accelerating at an alarming rate.
More and more doctors are refusing to accept Medicare because the reimbursement rates are too low, and Social Security is already insolvent; it will be completely under water in the next 10-15 years.
However, another concern that’s adding to the national debt is individual debt.
According to a study, approximately 80% of Americans are in debt.
This has several negative consequences.
When people are in debt, they’re unable to save and build wealth, which makes them more susceptible to the big-government schemes of liberals who are promising handouts.
However, it’s these liberal policies that have contributed to the debt crisis.
Perhaps the biggest culprit is rising student loan debt.
This has been spurred by tuition hikes, which have outpaced the rate of inflation over the past four decades, and the bulk of the skyrocketing tuition is due to the proliferation of administrators.
Schools are hiring diversity czars and creating useless departments in the name of social justice.
Thanks to government involvement in higher education, all federal loans are solely need-based and guaranteed by the federal government.
Since the schools are assuming no financial risk, they can raise tuition as much as students will tolerate, thus the universities stay in business because getting a four-year degree has needlessly become a cultural standard.
An endless parade of students are graduating with limited marketable skills and a mountain of loan debt that cannot be discharged through bankruptcy.
Crippling debt is causing college graduates to delay—or outright forego—rites of passage like marriage and home ownership.
This phenomenon is leading to an alarming decline in birth rates; America has dropped below replacement levels of 2.1.
Fewer births mean the number of entitlement recipients is growing faster than the young workers paying into the pool.
Entitlements like social security are essentially operating like a Ponzi scheme.
And like all Ponzi schemes, eventually there aren’t enough new investors to pay off the old ones.
Exacerbating this university problem is the indoctrination that these students are getting.
Not only are they being weighed down with debt, they’re being told that capitalism is at fault and socialism is the answer.
Politicians like Bernie Sanders promise them free college, which will only throw gasoline on the fire.
These indoctrination mills that are shackling students with six-figure debt shouldn’t be bolstered by policies like free college.
They should be starved into financial responsibility.
Until America’s public and private debt crises are solved, we’re all standing on a tinder box that could go up in flames at any moment.
