THERE is only one sentence in The Cavalier Daily’s endorsement editorial which we agree with: “What Obama has already done for students should not be overlooked.”
The economy is the fundamental issue to voters. Students about to graduate should not overlook the fact that they will be searching for a job in the labor force with the smallest participation rate since 1981. They should not overlook the current unemployment figure of 7.8 percent, which is no lower than when President Obama took office. Nor should they overlook the fact that unemployment among young adults is twice as high as the national average, and that, as a result, four out of ten students will be moving back in with their parents when they graduate, either unemployed or underemployed. Unable to make the most of their college degree, young graduates are overburdened with record high college debt.
The president promised to slow the rise of the oceans, yet he has not been able to slow the rising costs of college education and has accelerated the growth of federal deficits he once called unpatriotic. Even worse, the United States has experienced its first credit downgrade in the nation’s history. Today’s college graduates could be the first generation in U.S. history to inherit a country worse off than the one of their parents’ generation, burdened by college debt and their share of a $16 trillion-and-growing national debt, and hindered in opportunity by a contracted economy and a United States that has lost its place of leadership in the world. How can this ever be right?
Two years after the implementation of Obamacare, Americans have seen an increase in their health care costs. After helping to make the case for the president’s health plan, MIT economist Jonathan Gruber now admits, “59 percent of the individual market will experience an average premium increase of 31 percent.” Forcing a business to provide services it wouldn’t ordinarily provide causes it to increase its prices to make up for lost revenue. Furthermore, when small businesses are forced to provide more services for workers, as Obamacare stipulates, they will hire fewer workers, disproportionately hurting first-time entrants into the labor force.
On May 23rd, Romney introduced a policy paper titled “A Chance for Every Child,” wherein he pledged to consolidate federal education programs in the Department of Education in order to provide students and families with the best information and resources, partner with the private sector to optimize financial resources, and ensure funding is sent to the states in the form of block grants, a method that both Republican and Democratic governors agree is best. The liberal-leaning Center for American Progress found that “the vast majority of the general public does not know what opportunities for aid exist, how to access the various programs, and what one can expect to receive,” resulting in many who would qualify for funding failing to even apply. This is one of the problems Mitt Romney’s reforms specifically addresses.
Increased federal spending on education has not only failed to stop rising education costs, but also has accelerated it by artificially increasing demand. Increases in federal higher education funding only offer a short-term fix for a long-term problem. For every dollar increase in student loans, net tuition was found to increase by $1.42 at public schools and $1.68 at private schools. President Obama boasts of his more than $40 billion increase in Pell Grant spending, but who has benefitted? Mitt Romney wants to implement policies that will actually help our students directly by increasing competition within the student loan market, thus lowering interest rates and costs.
Virginians face an important choice for the Senate. During Tim Kaine’s governorship, education costs continued to rise as they do now. On the other hand, George Allen was the first governor in Virginia to put a freeze on college tuition, resulting in a decrease in the cost of in-state tuition.
Months ago, Democratic congressional candidate John Douglass made headlines when he struck a young cameraman filming a public event. This shows a general inability to serve in public office. Congressman Robert Hurt has shown strong support for pro-growth policies that will get Virginians back to work. He has spoken to UVa students on several occasions and has made himself available to community residents across the 5th district.
The Democratic policies have failed, but the Republican ticket of Mitt Romney, George Allen, and Robert Hurt has what it takes to get this country moving again. Conservative policies will enable present and future generations to secure an affordable education, a job, and the wealth of opportunity that has always made the United States great. If young Americans are searching for Mr. Right, they won’t find him on the Left.
Peter A. Finocchio is the College Republicans Treasurer.
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