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WyBlog, the best thing about New Jersey since the invention of the 24 hour diner.
Chris Wysocki
Caldwell, NJ
The nine most terrifying words in the English language are "I'm from the government and I'm here to help." - Ronald Reagan
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Hey! I've moved to He's Pretty Fly For A Jersey Guy.
Please update your bookmarks. Thanks!
Monday, 23 April 2012
Your Bachelor's degree won't get you a job, but Obama will buy your vote with cheap loans
It's almost graduation season and you know what that means — time to find a job and start paying back those student loans. Good plan, now here's the bad news — at least half of you will remain jobless or underemployed for the foreseeable future.
A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don't fully use their skills and knowledge.
Young adults with bachelor's degrees are increasingly scraping by in lower-wage jobs — waiter or waitress, bartender, retail clerk or receptionist, for example — and that's confounding their hopes a degree would pay off despite higher tuition and mounting student loans.
The poor dears, no one told them that degree is poetry wasn't a ticket to Lifestyles of the Rich and Famous.
What rhymes with "do you want fries with that?"
But have no fear students, President Obama has a plan. Not to find you a job; he can't seem to find anyone a job. So, he's working on the next best thing — cutting your loan payments!
"This is a question of values," Obama said in his weekly radio and Internet address Saturday. "We cannot let America become a country where a shrinking number of people do really well while a growing number of people struggle to get by."
Obama wants Congress to extend a law that cut interest rates on a popular federal loan program for low- and middle-income undergraduates. If the law expires, the rates will double on July 1, from 3.4 percent to 6.8 percent.
Education Secretary Arne Duncan said Friday that more than 7 million students would be financially squeezed if rates were to rise, to the cost of an additional $1,000 on average.
Translation: Here's a coupon for $1,000 off your student loan — Vote for Obama!
Sadly most of these kids are dumb enough to fall for it. And it's not like they're willing to learn from another sector of our economy where cheap money, high prices, and over-extended borrowers came together in a vortex of doom. The housing crisis was born out of class warfare — everyone deserves to own his own home! — and now Obama is demagoguing the "luxury" of a college education.
"In America, higher education cannot be a luxury," Obama said. "It's an economic imperative that every family must be able to afford."
In Obamaville all the students are above average. And if he had his way, college (along with everything else) would be free. It's those meanie Republicans who keep insisting on personal responsibility. So vote for Obama and the government will take care of you, for life!
UPDATE 26 Apr 2012 09:11:
Linked by Doug Ross. Thanks!
Posted at 14:28 by Chris Wysocki
[/education]
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