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President Obama gave a speech recently in Osawatomie, Kan. In his speech he called for more investment in national education by imposing higher taxes on the rich. He said that all of us including government, parents, businesses and citizens must make education a national mission.

He said that today’s economy is tough and a guaranteed route to the middle class is higher education. Many Americans with college degrees are unemployed. Those who are employed earn double the salary compared to those who do not have a high school diploma.

This shows that it is time to hire good quality teachers, not fire them. We should demand more from schools right now, not expecting less of them, he said. College access should not be so difficult in our country. Those who wish to go to college must be encouraged to do so. They must be able to go without worrying about racking up a huge debt.

President Obama said that the younger generation who are unable to find lucrative jobs and wish to achieve higher education must be concerned about all this. He said that our country requires a serious economic reform.

Youth unemployment rate in our country at present is at 17.4 percent. Anyone who wishes to find a job has to necessarily have a higher education degree. Our job market today is poor. It faces many issues including shrinking workforce, non-creation of jobs and experienced older people taking up our youth’s jobs at much lesser salaries.

A report in the Time Magazine says that due to this pathetic job market, 85 percent of students who finished college last year are saddled with huge debts and have been forced to move in with their parents.

Many of them have been supported by government funded low interest loans. This artificial interest rate is also detrimental to the well being of our society. Remember what led to the housing bubble?

Our youth face an uncertain future. They do not have a steady income but face the daunting preposition of having to pay off massive student debts. The entire youth community that chooses higher education will be forever indebted to the government.

Our President has grand dreams of transforming our national magically with the help of a well education workforce. It is certainly not as simple and this. Unprecedented logic and faulty rhetoric is certainly not going to create jobs. Just as important is innovation, entrepreneurship and free market policies that will allow businesses to function with more freedom and in turn create more jobs.

Education alone will not lead to a flourishing economy. Economy will move and grow only through innovation and freedom and our current policies do not foster these qualities. Today’s economy does not allow us to become successful entrepreneurs and innovators. There is a cloud of uncertainty and confusion surrounding our youth today. Our President’s rhetorical claims are only leading to an unsustainable situation and are not helping our young people. Subsidized education does not lead to employment. It only leads to endless debt.