Good in premise, but this should be accompanied by a whole slew of possible nation events that have both negative and positive effects. WE SHOULD NOT MAKE THE ONLY NATION EVENT IN THE GAME A MAJOR NEGATIVE. This should be a launching of an expanded list of nation events, how about using some that are included in the Nation Events Thread? Again, this a good first step but it needs to be one nation event within many.
Another note: this could create a project called: Universal Education that brings up the education levels of your country and thus lowers the chances of meltdown(oh boy, I just thought of a really cool mechanic... This needs expanding).
What he said is basically what I said, I was just later...