1. Still, since they are still a developing country. But China is growing much faster than the US and will overtake them soon. US Has a total GDP of 20 Trillion while China is at 15 Trillion and growing at twice the speed of the US. 20 years ago the US economy was still 3 times bigger than the Chinese economy, now that's down to 25%
2. Or just cut the military budget and get some taxes from corporations and the super-rich, as they are paying next to nothing now, and certainly much, much less than they should, even some of them acknowledged that, and that was before Trumps tax cuts.
Also, drop financial aid? You do know that the US already pay much less then every other developed country as part of their GDP, and that financial aid generally pays out in the long run as these countries tend to like to deal with you in very generous terms.
3. Because it's unsustainable on the long run. At some point even the banks won't be willing to lend that much money without guarantees anymore - but what guarantee do you have to make it to your diploma and get a well-paid job that you can present to the bank beforehand? Especially in times of crisis and/or recession there's nothing you can give them unless they have rich parents who can guarantee to pay it back or poorer families who will have to gamble on their house and/or car as guarantees to the bank - at which point many poorer people will not be going to get higher degrees as the risks get too high. This then means less income for the Universities, thus jacking up the prices even higher to compensate, resulting finally in just the rich being able to afford an University degree. That's also why I said you imply a degree only for the rich, as that would be the result in the long run if nothing changes.
Youtube videos? Tell that to headhunters and employers who only look at your diplomas.
1. China eventually learned about capitalism. Glad you notice how capitalism is the way to go. However, the United States is still ahead and China is plateauing right now. Not to mention the capita per income in China is embarrassing. Also, I forgot to say the United States has more GDP than the whole European union lol.
2. Even though we spend a lot of money on the military, it still won't cover the cost of social programs. Even if we drop the cost to $0. Not to mention military spending when done right does come up with useful inventions (Internet, GPS, microwaves, etc) and makes other countries think twice about starting wars with us. Which saves us a lot of money in the long run. The rich pay the majority of our taxes as it is. If we tax them to death, they will eventually leave and we get nothing. That includes jobs. We can drop financial aids and other countries will still do deals with us because we are leading in pretty much every relevant industry.
3. Except private banks won't be lending a lot of money compare to the federal government because private banks will be pickier. Therefore the price will go down because Universities will have no choice. Also, there are no guarantees, but there are statistics to see which loan is the best bet. Not to mention Universities can downsize on useless stuff and curriculums. Universities have a lot of ways to generate money. Just look at the sports program.
Youtube videos can teach you many things young padawan. I've made over $15,000 side money online last year thanks to some youtube videos. You can learn to program and build a portfolio, run a landlord business (which I am doing on the side now) and more. If you can prove to people you can do the job, they won't care if you have a degree unless the government forces it of course. I still remember my doctor using google/ a youtube video to help diagnose an issue I was having. What a time to live.
1. Yes Capitalism is the way to go - however not unrestricted, there need to be some rules and regulations in place to protect both people and small companies. @bolded: In nominal GDP, they do. Bring it up to purchase parity power and the US drops to the third spot, behind China and the EU. Main cause is the slow growth in Italy (1.2%), UK(1.4%), France (1.6%) and Germany (1.9%), which taken together form over 50% of the EU's economy. But the rest of Europe is growing much faster, and mostly faster than the US, too (eastern EU member states consistently grow by 4%+, as do Luxembourg, Malta and Ireland ) but they are yet too small to make a big impact in the total EU growth.
2. a. Yeah, but the US military is bloated to death. It could work just as efficiently with just a third of the expenses if they just limit the different equipments to one per kind instead of a dozen per kind. That alone would already help a lot.
b. They do, as it should be - but just barely. Also, if you look it from the income perspective, it's far from enough: while the total adjusted household income has been multiplied by 6 since 1980 (from 1.6 Trillions to 9.7 Trillions), the top 1% income rose from 138 Billions to 2 Trillions, so multiplied by 14.5 and thus much more than twice the mean value. In fact, it's them who push that value up to 6x in the first place, as the bottom 50% only rose by 3.8x, from 288B to 1.095T. In other words, they went from earning twice what the top 1% does to half of what the Top 1% gains. No wonder the Top 1% pays the most taxes if they earn much more money than half the population in the first place.
3. You missed the point. The Universities will continue jacking up the prices, as there will always be enough to pay for it, but never enough for their insatiable hunger for money, thus pricing higher and higher. you can see a similar thing happening in the Videogame industry already, with DLCs and Season passes that cost more than the base game itself.
4. I know Youtube videos and the like can teach you very much (i'm using Udemy btw, which works similarly). But again, you missed the point. The point was that you might learn everything there is to learn in a domain, but you get no diploma, no proof that at one point in your life you learnt all that stuff. If a company only looks at the diplomas and sees you appying for a job but miss the necessary diploma, chances are you get filtered out despite being the best for the job.
For example, my wife learnt everything there was for a Six Sigma Black Belt on Udemy. However, since you get no diploma or certification of any kind, her knowledge is useless unless her boss sponsors a black belt teaching session, which costs over 10000$, way too much for the company she's working for (that's more than her yearly income in the Philippines).