Philip S. Dedig – 2/18/09

This page was last updated on February 23, 2009.

College costs must be made affordable; Philip S. Dedig; Beaver County Times; February 18, 2009.

In 2008 Mr. Dedig supported the proposed federal gasoline tax holiday, Hillary Clinton for President, complained about “business as usual” (“Business as usual in D.C.,” 6/17/08) in Washington, DC, regarding energy, opposed offshore drilling, said Democrat voters deserve better candidates (“Local Democratic voters merit better,” 8/22/08), supported “bailing out Freddie Mac and Fannie Mae” (“Fed, Treasury had to move”, 9/30/08), and told us we had “No choice but to help auto makers.”

Below is a detailed critique of the letter.

“During the period from 1990 through 2008, the consumer price index rose 68.6 percent.

“Topping the list of price increases were college tuition and fees, which rose a whopping 248.4 percent.

“There were also exceptional increases in education books and supplies (up 182.5 percent) and housing at school (up 155.7 percent).

“These price increases are unsustainable.

“Our colleges and universities eventually will price themselves out of the market, and many deserving students will be unable to get an education.

“A democratic society needs well-educated citizens to survive and prosper. They are the movers and shakers of the future.

“Many students are graduating from colleges and universities with huge student loan debt, some in excess of $100,000.

“They are starting their working careers with a large burden on their shoulders, and this is not right.

“Pennsylvania has to step up and start funding state colleges and universities properly, and the federal government should consider lowering interest rates on student loans and forgiving some portion of these loans.”

[RWC] I wonder where Mr. Dedig learned his economics. Increasing subsidies for any good or service simply results in even more price increases. It’s akin to a dog chasing its tail. The way to get prices to come down is to eliminate the government subsidies so students pay for their education with their (or their parents’) own money, not someone else’s. “Deserving students” will still be able to get scholarships from private sources based on their academic achievement.

“The bottom line is this: Well-educated people are an investment in the future of the nation.”