College not a sure bet in Obama economy

Andrew Malcolm:

For how many generations have parents told their offspring that a college education would virtually guarantee economic success in life?

Well, not in Obama's economy. All part of his hopeless change.

Our perspicacious IBD colleague Jed Graham has been studying the latest labor force data. Here's his eye-opening finding:

"For the first time in history, the number of jobless workers age 25 and up who have attended some college now exceeds the ranks of those who settled for a high school diploma or less. Out of 9 million unemployed in April, 4.7 million had gone to college or graduated and 4.3 million had not." The entire Graham story is here.

So, in his grand transformation of American society into something radically different that Obama won't really define until safely after his reelection, there's much less point to continuing on into higher education, especially at those hilarious tuition prices. Unless you finish. That's the key.

Some of us paid less for our entire first house than a current year's tuition at universities that know they can jack the prices annually because Obama will increase the subsidies too. Sweet deal for the schools.

According to the findings, the best path to follow for employment now seems to be a two-year college degree; forget the high-priced, high-faluting universities. In April, the two-year college grad unemployment rate was 6.2% for those over 25. The high school diploma with zippo college was 7.7% in the same age group. And the unfinished college rate was 8%. (Quick, edit that degree out of your resume!)

... 

The college graduate is likely to be strapped with crushing debt arranged by administrators whose earnings put them in the one percent.  The same schools use predatory lending to get unsophisticated students to borrow money to feed the lifestyles of the academic one percent.  Suggest that these people should trim cost and they act like you want to destroy higher ed.