Although this will bring much needed relief, it does little in the long run. First, it eases debt by lengthening the term of the loan and capping it at 10%, which incentivizes things like buying a home or taking on more debt. Second, Warrens bill is unfundable. Third, debt is only a symptom of a fractured economy and the ballooning higher education system in America. Fourth, where will the help be when that balloon explodes? Its going to, and soon, and when it does its going to cripple our economy. Colleges and Universities are well aware of this, as well as professors. Its a growing storm of unimaginable size. Where is the real solution? The cost of college has increased by 1,200% in 30 years. Minimum wage has not increased in 15 years and still stands despicably low. The middle class took an enormous loss in 2008-2009 while corporate profits and executives increased the gap over the middle and lower classes. The top 28 corporations PAID $00000 in taxes and most received subsidies from the government. WHO PAID FOR IT? Nobody, I mean, your taxes funded it, so you refinanced your house, or your kids had to take out more in loans, or you put off getting medical treatment, or you took out a second credit card. Who paid for it? The future. This is what were leaving them with, a precarious economy with no upward mobility, little chance of your grandchildren getting a college education, and politicians who come up with stop-gap measures that dont solve anything. To my friends, I am sorry. I hope this does something for you. If you have loans or debt, pay it off, fast. If you dont, DO NOT GIVE THEM ANY MORE POWER. Live by small means, save, and learn that less is more. Be happy, and dont buy into the lies that having a house, new car, new phone, new clothes, new tv, new garbage is what qualifies your success in life. Buy second-hand, give things away, pay in cash, support local businesses, conserve energy, and utilize public resources. Stay informed, stay cautious, but be open to loving those around you. #wereallinthistogether
Posted on: Sun, 08 Jun 2014 21:15:52 +0000
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