Bucket, Meet Drop, or Why We Shouldn’t Tolerate Electoral Sunk Costs

I won’t say people had high hopes for President Obama’s student loan proposal, but its underwhelm does impress. By my understanding it does the two things: (1)  Accelerates the IBR reforms to allow 2012 university grads to use the repayment plan. This means their interest rates will be 10 percent of their discretionary incomes instead [...]