Economic woes “double” for college students

Dennis Gosnell, Assignment Editor

With the U.S. government trying to figure out how to overcome 12 years of over spending, it seems that it will be the youth of America and their parents that will pay the price for seeking justice and the war against terror.

American youth to pay for parent’s mistakes

As stipulated in the Budget Control Act of 2011, students will not receive a repayment incentive, and as such will be required to start paying back their student loans immediately after graduation with a proposed interest rate of 6.8 percent. These changes are scheduled to occur July 1 of this year.

This brings up many questions. For instance, why does the interest rate of tuition need to increase? What do students get from these increases? Does anyone gain or profit from such increases?

While it is understandable that the government needs to start somewhere when deciding how to overcome its overzealous spending, there are other means by which to fuel an economy that looks to be failing.

Increase national production. Instead of relying so heavily on foreign goods make an effort to increase production of U.S. goods.

Don’t force those who have not yet established themselves in the world or even gained financial stability to pay for other people’s mistakes.

It is not the youth of America’s fault that the U.S. economy is topsy-turvy. This crisis has been hanging over America for a long while; it just took the misguided greedy top feeders taking advantage of the people’s hearts to pull the rug out from under America’s feet for the economy to fall on its backside.

Productive American’s means financial stability

More jobs means more people buying things. Yes, this sounds easy on paper, and yes, it is simplistic, yet big corporations

would rather buy out their competitors and dismantle the company than to continue employing those people so that they can continue buying the company’s products.

Way to go Wall Street, smooth move. You just fired all the people you depend upon for that big chunk of money you have in the bank.

As is so often the case in life, we create the monster in our closets. That monster is the banks and corporations that run America.

Heh hmmmm, are you listening senators and congressmen and women? The more people who can work, the more taxes there are to alleviate the debt the government has accumulated.

In past days, individuals could go and apprentice themselves to companies and individuals to learn a trade, to get a job. That way of life has all but been extinguished.

It is high time we look at what was good about the past and what is not, and use what we can from past generations to move on into the future. For is that not why students must take history lessons?

By 15th Street News Posted in Editorial Tagged Budget Control Act of 2011, Stafford Student Loans, U.S. economy, U.S. goods, U.S. Government

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