KENNEDY: WE HAVE THE
PROJECTIONS.
THANK YOU THOUGH.
CLEARLY THE BIDEN ADMINISTRATION
HASN’T REALLY THOUGHT ANY OF
THIS THROUGH.
SO LET’S TALK TO SOMEONE WHO
HAS.
JOINING ME IN STUDIO, PROFESSOR
OF BUSINESS AND ECONOMICS AT
KINGS COLLEGE IN MANHATTAN,
BRIAN BRENBURG.
WE NEED YOU MORE THAN EVER RIGHT
NOW.
THEY SAY $500 BILLION, THAT
SOUNDS LOW.
>> THAT’S LOW.
THE $5-$600 BILLION IS TALKING
ABOUT WHAT THEY WANT TO DO RIGHT
NOW.
THIS DOESN’T END HERE.
THERE IS NO WAY THAT THEY’RE
GOING TO FORGIVE LOANS FOR
TODAY’S BORROWERS AND ASK
TOMORROW’S BORROWERS TO KEEP
PAYING ON THEIR LOANS.
EVERY GENERATION HERE AFTER
EXPECT THE SAME THING AND WE’RE
TALKING ABOUT TRILLION IF WE
KEEP GOING DOWN THE PATH.
THAT’S THE PROBLEM HERE.
NOBODY IS THINKING LONG TERM.
ALL SHORT TERM POLITICS.
IT’S ALL HOW CAN I BUY VOTES IN
THE MIDTERM BUT WE’RE NOT
THINKING ABOUT WHAT ARE YOU
DOING TO COLLEGES.
WHAT ARE YOU DOING TO THE INSTITUTION OF A COLLEGE
INSTITUTION OF A COLLEGE
EDUCATION?
THAT’LL RECK WHATEVER WE HAVE
LEFT OF THE INSTITUTION.
KENNEDY: THE PRESIDENT AND
CARDONA SAID WE CAME OUT AND
FIXED THE GLITCH.
NO, THE PROBLEM IS FEDERAL LOANS
AND THIS ENTIRE PROGRAM WAS
CREATED WITHOUT ACCOUNTABILITY
OF THE COLLEGES AND UNIVERSITIES
AND NOW THEY KNOW THAT THEY’RE
GETTING EVEN MORE FREE MONEY BUT
TO YOUR POINT, IF I HAVE A
16-YEAR-OLD, WHY WOULDN’T I
ASSUME THAT THEY ALSO WON’T BE
PAYING FOR COLLEGE?
>> YOU’D BE A FOOL TO THINK I’M
GOING TO GO PAY THOSE LOANS IN
THE FUTURE BECAUSE THEY’RE
CERTAINLY NOT GOING TO GIVE
ANYTHING AWAY TO ME.
THEY DIDN’T FIX THE GLITCH, THEY
DOUBLED DOWN ON THE GLITCH.
THAT’S WHAT THEY D. IF YOU LOOK
AT THE MATH, WE’LL BE BACK AT
THE SAME $1.6 TRILLION IN DEBT
IN LIKE FOUR YEARS UNDER THIS
PLAN.
IT MAKES NO ECONOMIC SENSE, IT
MAKES NO LEGAL SENSE, IT MAKES
NO ETHICAL SENSE, IT MAKES NO
LOGICAL SENSE.
THE ONLY AREA WHERE IT MAYBE
MAKE AS LITTLE BIT OF SENSE,
POSSIBLY, IS POLITICALLY.
I DON’T EVEN THINK THAT’S TRUE
BECAUSE I ACTUALLY THINK MOST
PEOPLE OUT THERE, UNLESS YOU’RE
GETTING A DIRECT BENEFIT, MOST
PEOPLE THINK THIS STINKS.
PEOPLE CAN DO THE MATH AND THINK
LOGICALLY AND REALIZE YOU CAN’T
PLAY THIS OUT FOREVER.
IT WON’T WORK.
KENNEDY: AND MORE PEOPLE DIDN’T
GO TO COLLEGE NUMBER ONE, EVEN
SUCCESSFUL PEOPLE WHO DIDN’T GO
TO COLLEGE LIKE MARK ZUCKERBERG,
BILL GATES, THEY WENT TO ONE
YEAR OF COLLEGE EACH.
>> HOW ABOUT THE GUY THAT FIX
MID PLUMBING.
THE GUY THAT TRIMS MY TREES,
THEY’RE SUCCESSFUL AND RUN
BUSINESSES, THEY BORROWED A HECK
OF A LOT OF MONEY TO GET INTO
THOSE BUSINESSES.
NOBODY’S PAYING THAT OFF FOR
THEM.
THOSE ARE THE GUYS WHO ARE --
THEY’RE NOT JUST ANGRY BUT THEY
LOSE HOPE IN A COUNTRY THAT SAYS
YOU DON’T MATTER PREFERENTIAL
TREATMENT ONLY AND ALWAYS GOES
TO THE INSIDERS, THE ELITES, THE
HIGHER EDUCATION FOLKS.
THE GUYS WHO DO THE WORKDAY
TODAY START SAYING THIS PLACE
ISN’T BUILD FOR ME.
KENNEDY: THERE’S NOBODIES
LOBBYING FOR ME.
75% OF THE COLLEGES AND
UNIVERSITIES GO TO DEMOCRAT DEMO
IT’S SLIGHTLY LESS THAN
TEACHER’S UNIONS.
THEY’RE LOBBYING FOR THIS WHY?
BECAUSE THEY LOVE LEARNING AND
IF THEY DID, THEY HAVE FEWER
PROFESSORS AND ADMINISTRATORS.
IT’S THE INVERSE OF THAT AND
HAVE NO PROBLEM OF STICKING TO
THE PHANTOM BILLIONAIRES THAT
WILL SUPPOSEDLY PAY FOR
EVERYTHING.
>> COLLEGES ARE SO BLOATED AND
WHAT AN INDICTMENT OF COLLEGES
TO SAY -- KENNEDY: AND YOU’RE A
COLLEGE PROFESSOR.
>> I AM A COLLEGE PROFESSOR AND
IT SAYS COLLEGES HAVE
OVERCHARGED AND UNDERDELIVERED
WE’RE ASKING PEOPLE THAT ARE NOT
CUSTOMERS TO BAIL OUT YOUR
CUSTOMERS.
HOW TERRIBLE IS THAT?
ACTUALLY I AGREE, THERE’S A LOT
OF COLLEGES THAT HAVEN’T DONE A
WHIT OF GOOD FOR THE PEOPLE
THEY’VE RUN THROUGH THE SYSTEM
AND THERE ARE COLLEGES THAT HAVE
DONE A GREAT JOB AND IT’S HARD
FOR US TO COMPETE.
THESE KIDS SAY DO I CARE WHAT
THE COLLEGE DOES?
I WANT TO HAVE FUN AND THEY’LL
PAY ME TO GO THERE.
THEY’RE NOT DOING THE COST
BENEFIT.
KENNEDY: AND YOUNG MEN ARE
ENROLLING IN COLLEGES AT MUCH
LOWER NUMBERS THAN THEY HAVE IN
DECADES BECAUSE THE SYSTEM IS
REALLY SET UP AGAINST THEM BUT,
HEY, MAN, IF I’M A FUTURE
COLLEGE BORROWER, I’LL ASSUME
THAT I CAN DEFAULT ON THAT DEBT
AND IF I CAN DEFAULT ON THE
COLLEGE DEBT, WHY IN THE MY
HOUSING DEBT?
>> IT KEEPS ROLLING DOWN THE
LINE TO MORTGAGE, CAR -- WHEN
YOU GET A JOB, YOU SAY I’M
ENTITLED TO THIS JOB JUST LIKE
THE AND HE IS I’M ENTITLED NOT
TO COME INTO THE OFFICE AND
WORK.
TELL ME WHERE THE LOGICAL FLAW
IS.
IT’LL NEVER END, FOLKS, IF YOU
DON’T NIP IT IN THE BUD NOW.
KENNEDY: THAT’S RIGHT AND NO ONE
WILL BE SUCCESSFUL AND EVERYBODY
WILL BE MEDIOCRE AND THE UNITED