1 Trillion student loan bailout

Intercooler · December 01 2012 11:37:58 PM MST

${$default_shocked_smiley}$

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!?? ${$default_angry_smiley}$

sqlbullet · December 02 2012 08:09:15 AM MST

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.

Intercooler · December 02 2012 10:01:27 AM MST

If this actually happens it's game over.

EdMc · December 02 2012 10:28:27 AM MST

'Actions have consequences'

That used to apply to many things.........not so much in our 'new society'.

The_Shadow · December 02 2012 11:02:46 AM MST

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.

REDLINE · December 02 2012 12:24:12 PM MST

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.

pacapcop · December 02 2012 02:55:52 PM MST

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.

Intercooler · December 02 2012 03:18:22 PM MST

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!

harrygunner · December 02 2012 05:47:29 PM MST

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.

pacapcop · December 02 2012 09:51:12 PM MST

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

Intercooler · December 03 2012 05:58:37 AM MST

A Trillion is like a Million now. ${$default_shocked_smiley}$

pacapcop · December 03 2012 06:42:22 AM MST

Remember Quadtrillions with derivatives.Im hearing the post office cutting Saturdays shoud be coming.Were in a depression masked by safety nets.

Intercooler · December 03 2012 07:01:08 AM MST

They could probably cut more than that. 1-2 times a week would be plenty.

sqlbullet · December 03 2012 10:48:52 AM MST

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.