Saturday, February 25, 2012

$1 Trilllion In Student Debt - Another Time Bomb

The next time bomb that will hit our country is the $ 1 Trillion in Student Debt, guaranteed by the federal government.   Recent college graduates are carrying an average of $25,000 in debt, with many carrying much more.  Aside from the debt itself, this debt is making it impossible for many young people to buy homes, even at low prices and interest rates.   And, a few years back Congress passed a law making it impossible to walk away from student debt, even if someone files bankruptcy.   Let's hope that law is never repealed by Socialists, if they ever regain control of Congress, because that would put the rest of us tax payers on the hook. 

The reality is that many students chose not to work to put themselves through school and or their parent's found other places to spend their money; i.e. motor homes, vacations etc. rather than pay for their kid's educations.   Of course, there are parents, living pay check to pay check, that had no money to pay for college educations, however, those students should have worked their way through school and gone to community college first, before transferring to a four year institution, as did this Blogger and both of our sons that have no student debt and own homes today. 

Americans beware, Socialists like President Obama are already talking about forgiving this student debt at our expense to buy votes.   We can't let that happen.   Students that incurred this debt must pay it back no matter how long it takes, if nothing else than to learn the lesson of personal responsibility.   Many of the Occupy Wall Street Crowd are these very same students that are now saying "Holy Crap, I owe all this money and I am not happy about it."  "Maybe if I scream loud enough, like the spoiled children that they are, Obama will come to my rescue".   No way Jose!! 

These recently graduated students have come up against the law that makes it impossible to dispose of student debt, even by bankruptcy and they are not happy because they can't scam the system.   Too bad.  This is just one more example of an entitlement program gone wild.   Loans should never have been made to students whose parents were fully capable of paying for their son's and daughter's educations.   And, for other students, there should have been a work requirement to get a student loan to prevent loans from getting so far out of control.  But you know those Socialists always trying to provide their PEEP's with something for nothing at our expense to buy votes.  Well now the chickens have come home to roost.  Ok, Kids, Pay Up. 

We have to take back our country in 2012 and 2014 by sweeping Socialists, at all levels of government, including President Obama, out of office because they are a clear and present danger to our nation as bad as any external enemy we have ever faced.  These characters are bankrupting our country.   Just watch, they will try to forgive these student loans at our expense, adding this money to the National Debt.   We can't let that happen.   We have to stand up and say HELL NO by electing Conservatives to take back our country.  Enough is enough.   We must act to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   We can do it.  We must do it to stop the fiscal insanity that is prevalent at all levels of government.  


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