Not to burst everyone's bubble this morning, but student debt just surpassed credit card and auto loan debt by a sizeable margin and the future doesn't look too bright either. Unless President Obama, Elizabeth Warren and the GOP can find a solution...
Courtesy of Mother Jones:
If you're one of the
37 million Americans with student loan debt, you're in for a real treat come July 1. That's
when interest rates on federal student loans are set to rise to 6.8
percent—double the current rate of 3.4 percent. That deadline has
lawmakers scrambling for a fix. There are a bunch of proposals out
there, including Massachusetts Sen. Elizabeth Warren's call for students
to be allowed to pay the low, low rate that big banks pay for
short-term borrowing; a plan President Barack Obama laid out in his
budget in April; and the GOP plan that just passed the House—a plan
Obama hates.
Whatever lawmakers and the president ultimately decide matters a lot. Over the past 25 years, the cost of going to college has spiked 440 percent. Since 2004, student loan debt in this country has tripled, and now stands close to $1 trillion. Check it out here.
It's truly sad, but isn't this the truth?
Luckily for me, I had Financial Aid to get me through college, but for most folks it's about loans, loans, loans and paying them off after you graduate.
If you vote for the wrong guy, you can't blame anyone, but yourself. Seriously. The previous president invaded two countries, causing thousands of American lives and trillions of money for both wars, did you honestly think the surplus that Clinton left Bush would have lasted? We have a revenue problem folks. If we don't have revenue, we will never get out of debt. Instead, Republicans want to cut spending by cutting medicare and social security - programs both our parents and grandparents need. How 'bout getting rid of the Bush tax cuts, taxing people who make over $250,000 a year, and getting rid of subsidies for these huge-ass companies. This creates revenue! We have a revenue problem folks!
Quite fascinating isn't it? It's been illegal for so long, that some people think allowing it will help us get out of our debt a lot quicker than we think. While we are talking of Medical marijuana, who's to say allowing on the streets won't help it either? What are your thoughts?
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I'm for allowing it for medical purposes only. Too many cancer patients where I work, suffer from a disease that affects them in more ways than one, and sometimes excruciatingly. Marijuana helps bring relief at a time when there's nothing else that can be done - doctors and nurses have seen it first hand.
The chart above is from a groundbreaking study released in March:
The pipe dream has come to pass: Weed is legal. Fifteen states plus the District of Columbia have adopted medical marijuana laws and 20 more states may soon follow suit. And a slew of entrepreneurs may find themselves seriously considering what they never thought would be a legitimate business opportunity.
Not all Markets are Created Equal. Alaska’s weed has been legal for 10 years, but before you open a dispensary in downtown Anchorage, consider this: There’s no state law governing retail marijuana businesses. Compare that to Colorado where you can plunk down $7,500 at the Department of Revenue and apply for a Type 1 MMC license, permitting you to operate a medical marijuana center serving up to 300 patients. Prison or paperwork? You make the call.
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I have organized my blogs with 3 days worth of postings, so if you wish to continue reading the days before that, and so forth and so forth, you can click the "Older Posts" button /\ /\ /\ right /\ up there.
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Hope you enjoy my daily posts, and hope to hear from you soon.
- Blade 7184 aka Peter
