:o
I have been telling my Wife with the way our local College has bought everything up and so many students it was next on the bailout list. Looks to be true... when do I get mine for just going the straight line!?? >:(
I completely agree with you IC. Really steams my carpet. I looked at the value proposal of a college degree really hard when it came time to either drop out of get loans, and came to the conclusion that the debt would never pay for itself. I dropped.
I am sorry these folks made a bad financial call. But it isn't the place of the government to decide to re-distribute debt. They made the call that the value of the degree made the debt worthwhile. Sorry if they now find that to be not the case.
Something does need to be done. We need to get the government OUT of this process. Many of these loans would have never been funded if Uncle Sam hadn't been there saying he would pay no matter what.
If this actually happens it's game over.
'Actions have consequences'
That used to apply to many things.........not so much in our 'new society'.
It seems everthing the "Government Gone Wild" has put its hands into has turned to feces, only to cost more money to tax payers!
They just keep throwing money at things hoping to fix the problems, when it was them throwing money at things that created to situation in the first place.
Clearly in politics there is no direct correlation to intelligence. And since politicians are generally elected individuals, it doesn't go to show much intelligence toward the voting public on a whole either. Talk about a nasty circle.
It's either 2 choices.Cuts or print to infinity.I say it's the latter.But in reality,it's mathematically impossible with social programs ie..entitlements and a baby boom generation.
It will be interesting to see how this and the fiscal cliff pans out. If both hit us I feel you will see stuff in this Country we have never seen!
For a Chicago politician, the idea of using tax payer dollars to pay off a constituent base for votes is so natural, it happens without a thought.
Fear not fear not.Both sides will put on the usaul show.It will be concluded with some cuts in programs so the Red state guys can beat their chest.Throw in some pork projects for the red states,all is well.Blue State guys get additional money printed up for "infastructure fund,50 billion"unions happy,job creation via cont money creation,taxes up for 250K earners.
America-Land of the FEE
Home of the Slave
A Trillion is like a Million now. :o
Remember Quadtrillions with derivatives.Im hearing the post office cutting Saturdays shoud be coming.Were in a depression masked by safety nets.
They could probably cut more than that. 1-2 times a week would be plenty.
http://www.nytimes.com/2012/12/02/fashion/saying-no-to-college.html?pagewanted=all&_r=0 (http://www.nytimes.com/2012/12/02/fashion/saying-no-to-college.html?pagewanted=all&_r=0)
Reasonably good article in the Times about the value of dropping out of college rather than amassing a big debt, especially in technology fields. This is the call I made 15 years ago. And I am more convinced than ever that it was the right call.