Turns out having your student loan debt double is a good thing, no really.

So yea, everyone watched the clip right? if not go do it or your gonna get horribly lost.

First I must say I kinda enjoyed the irony of the first 2 minutes of so of the clip. You see the Obamacare provision they are explicitly talking about, as explained by the professor, hasnt actually gone into effect. Of course they kinda forgot to mention that part, but thats because they have to mislead on that.

You see for 4 years FOX news has lied to its audience about the negative effects Obamacare *is* having on the economy. Now of course for much of that 4 years NO part of Obamacare was actually in effect, and none of the parts they are specifically citing are yet in effect.

So instead of getting to crow about this delay, which could easily be spun as a massive massive win for FOX news/the right wing, they really have no choice to stick their fingers in their ears and lie as hard as the can.

I mean think of all the great chances they could have had to attack other parts of Obama's economic addenda they just had to pass on. The increase in taxes earlier this year might have caused this. Or because Obama's not cutting enough spending and we are overregulating, maybe that caused this. or Congresses inability to pass a budget.  Or maybe its just that Obama is getting distracted by issues like the DOMA win, or vacations to Africa, the fact the IRS is corrupt or what have you.

All of these other attacks, equally as false, but still much more current, and each with a chance to actually focus on something much more current and even maybe attempt to damage Obama from a new not tried to death angle.

But they had to miss out on that chance, and the giant "delay" victory parade, simply because they can never actually publicly admit to their audience that they have lied to them non-stop for 4 years. Instead its apparently easier to try to twist everything to fit your preexisting lie.

So i guess given that, maybe its not so shocking the level of stupid this reached in the last moments.

Here's the money quote for those who didnt listen to me about needing to watch the video

"Morici: The president has been buying lower unemployment rates by essentially providing very cheap student loans and keeping people out of the labor market.

Carlson: Exactly. So, cheap student loans keep people out of the labor market. This is a dangerous spiral."

See, it turns out the reason you cant get a good paying full time job is because you dont have enough debt.
If only you owed more money to more people, you would have an easier time getting a job.

Now how exactly does that work logically? Honestly I have no fucking clue, but if I had to guess, I think what they are saying is that your just a lazy little shit.

I mean as long as your student loan debt is a "manageable" 200 thousand or so, you just dont have the impetus to get your lazy ass off the couch.

Now if we doubled that to say 400 thousand or even 800 thousand in student debt, well I'd bet you'd get off the couch then now wouldnt you?

Of course that would actually also imply their are actually plenty of full time jobs out there, just that no one's applying to them. Which would kinda undercut the lie about the effect the non existent provision in obamacare is currently having due to a reverse chrono side effect thats ripping the space time continuum in half, so that clearly cant be the answer.

So maybe what they mean is that our benevolent corporate overlords will actually just magically create a job for you by waving a wand once your debt rises above a certain level.

Well except that would kinda suggest a giant national debt would be great, see that way we could pass the threshold on a national level and our overlords would just create jobs for everyone, yet for years conservatives have been telling us to pay down the debt to create jobs. Of course maybe they've just been lying about that too.

So I guess that really only leaves us with two possible explanations of what they meant by bigger student debt being a good thing. The first is that, after all this time, FOX still doesnt actually understand how money works.

The second is that, like Rush Limbaugh, Fox News suffers from "Obama disagreement reflex" and since Obama said the student loan doubling was bad they are compelled, even at the expense of everything they have said previously, to take the opposing side.

Actually on second thought, its likely a combination of both of those two things.

So that leaves only one point left to address. Yes, Peter Morici is actually a professor at the Robert H. Smith School of Business, Logistics, Business and Public Policy at the University of Maryland in College Park.

Which is kinda shocking, since apparently he is an idiot. After all he did say cheap student loans keep people out of the job market, and blamed the whole thing on a not yet existent provision of Obamacare.

Well it turns out, he's not actually an idiot, he literally just plays one on TV for the right price. If you dont believe me, check out his own blog.

See this is part of his most recent article on why the economy is in such bad shape, its the part where he lists the problems and what needs to be done:

"More rapid growth requires importing less and exporting more—dealing with the $450 billion trade deficit on oil, by drilling more offshore and in Alaska, and with China, by addressing its undervalued currency and protectionism.

Faster growth also requires right sizing business regulations to make investing in new jobs less expensive and time consuming. Regulatory enforcement is needed to protect the environment, consumers and financial stability but must be delivered cost effectively and quickly to add genuine value.

Overall, more jobs require trimming back on tax increases and spending cuts, and more pro-growth trade, energy and regulatory policies."

Notice what's missing there? How about a link to Obamacare.....or even a suggestion of raising student loan rates. In fact pretty much everything he said on FOX is missing.

Now look, I admit Economics really arnt my strong suit, but I have a feeling prostituting yourself and your credibility in order to make a cheap buck isnt really the economics lesson that would be most beneficial to teach your students, especially the guy with the masters degree working at starbucks and living with his parents.....he might need something a little more useful as a lesson.