How to solve the student loan crisis
The total amount of outstanding students loans owed in the U.S. is now above $1 trillion, according to some sources. The population of the U.S. today stands at over 316.27 million and it's growing by one person every 44 seconds, on average. It works out to $3,165 for every man, woman and child in the U.S. in outstanding student loans.
So are you willing to reach into your pocket and pull out roughly $3,200 for every member of your family to see every student loan in the U.S. just written off? Do you have $3,200 for every member of your family that you can afford to contribute to the project to end student loans? Probably, but it would be money you'd miss.
I guess just writing them off isn't the answer. But why is it that today's adults struggle so much with student loans when the previous generations didn't have these problems? The answer can be found in one word. Change.
Flash back to 1970. A typical household of two adults and two kids had one car (two in more affluent areas). Two televisions but no cable. One phone line. Health insurance came from the breadwinner's employer, or was available at an affordable monthly rate. Families bought savings bonds to pay for college. Most kids went to public schools because the majority were still great skills. IIRC, Santa Monica High School taught four or five foreign languages. The science program was outstanding, with a Marine Biology course that actually did scientific measuring of the waters and life near the pier.
Now it's 2013. The typical household above has to have two cars. Otherwise they can't get the kids to all of their activities. Soccer, little league, classes outside of school and so on. Both parents may well be working while juggling their children's schedules.
What's really different is that they now have a bundle of monthly expenses no one had ever anticipated in the 1970s. A family cell phone plan so that everyone has a cell phone in case of emergency and to stay in touch. A bill for cable TV or satellite TV. A bill for the high speed internet connection in the house. Hundreds of dollars spent each month on these things that were never part of the family budget back in the "good old days".
It should also be noted that the cost of education has risen faster than the rate of inflation, due in part to these factors. Universities have to have IT departments now, and make sure there is access at every single point on campus. But there's another factor that is driving the cost of education that we don't see. Healthcare.
Wait, healthcare is a problem for every industry, every company, every person. True. It's just a bigger problem in institutions engaged in education. There is a proven correlation between the level of education within an employee group and the level with which they consume healthcare services. The better educated the employees, the more money that must be spent on their healthcare. They are more willing to use their benefits. They go to the doctor more often. They seek mental health services at a higher rate than the population that doesn't have advanced degrees. All of those things cost money and insurance premiums rise faster for businesses with better educated employee bases.
So if it feels like your struggling harder and ending up with less than your parents, there are reasons. You're having to do more, with less.
* * *
Clearly the Emmy nominations aren't a contest about what's popular with viewers. At least as far as dramatic shows go. The drama category is dominated by cable programming once again this year, with broadcast network drama programs garnering only two nominations in the major categories. NCIS is the most popular drama on television. It's the most popular show on television this past season, period. It outdrew even Sunday Night Football on NBC. There are four dramas among the top ten rated programs and none of them garnered a nomination in any of those categories. NCIS was honored with it's third nomination in history, this one for stunt coordination.
The Emmys are a popularity contest, with people who are far more enamored of shows with "edge". The edge that being on a cable network provides, where the rules and the wardrobes are much looser. Like the Oscars, what the people who are actually paying the bills think isn't important.
That's fine. We just need to recognize these awards for what they are. Actors, directors and writers telling other actors, writers and directors who they felt had the best programming on air the past season. It isn't about ratings or popularity. It is totally self-aggrandizing peer recognition in a closed community.
* * *
Random ponderings:
Will President Obama ignore the call from the parents of Trayvon Martin to get personally involved in the effort to bring about a federal civil rights case against George Zimmerman? I hope he will continue to give wise counsel and otherwise stay out of it. Far better to work toward modifying stand your ground laws than filing a case that isn't legally sustainable.
Should we be surprised that a potential witness against reputed mobster Whitey Bulger was found dead under mysterious circumstances? Probably not.
Is the filing by the City of Detroit for bankruptcy protection going to get people to understand that our state, county and city governments are in a financial crisis? Probably not. FYI, Detroit is $18 billion in debt.
How cool was it for a waitress to write a note to a patron, giving her a big thumbs-up for breastfeeding at the table? Very cool if you ask me. Women shouldn't be feeding their babies in restrooms. Do you want to eat in there? If you don't like it, don't look.
Is Joe Biden serious about running for the presidency in 2016? He will be 74, five years older than Ronald Reagan was when he was elected for the first time in 1980. If Reagan was too old in the minds of many, what would that make Biden? Funny thing is I wouldn't vote for whoever else is running because Biden is too old in my mind, I wouldn't vote for Biden because his misstatements make me think he's not 100% mentally fit, and because he is a confirmed plagiarist.
* * *
This Date in History:
On this date in 1290, King Edward I issued the Edict of Expulsion, ordering all Jews to be banished from England.
On this date in 1870, the First Vatican Council decrees the dogma of papal infallibility.
On this date in 1914, Congress forms the Aviation Section, U.S. Signal Corps, giving official status to aircraft in the Army for the first time.
On this date in 1925, Adolf Hitler publishes "Mein Kampf."
On this date in 1942, Germany conducts a test flight of the ME-262, first time a jet engine was used in a military aircraft.
On this date in 1968, Intel is founded.
On this date in 1969, Senator Ted Kennedy drives his car off a bridge at Chappaquiddick Island. Mary Jo Kopechne, a passenger in his car dies.
On this date in 1976, gymnast Nadia Comaneci scores the first perfect "10" in an Olympic competition.
On this date in 1984, 21 people are brutally murdered at a McDonald's in San Ysidro.
Famous Folk Born On This Date:
Machine Gun Kelly (the gangster, not the radio DJ)
S.I. Hiyakawa
Andrei Gromyko
Harriet Nelson
Hume Cronyn
Red Skelton
Nelson Mandela
John Glenn
Kurt Masur
Hunter S. Thompson
Paul Verhoeven
Dion DiMucci
James Brolin
Martha Reeves
Steve Forbes
Richard Branson
Anne-Marie Johnson
Wendy Williams
Vin Diesel
Today's movie quotes come from 1980's "The Blues Brothers" just because I felt like using that movie:
Mrs. Murphy: May I help you boys?
Elwood: You got any white bread?
Mrs. Murphy: Yes.
Elwood: I'll have some toasted white bread please.
Mrs. Murphy: You want butter or jam on that toast, honey?
Elwood: No ma'am, dry.
[Mrs. Murphy gives him a look, then turns to Jake]
Jake: Got any fried chicken?
Mrs. Murphy: Best damn chicken in the state.
Jake: Bring me four fried chickens and a Coke.
Mrs. Murphy: You want chicken wings or chicken legs?
Jake: Four fried chickens and a Coke.
Elwood: And some dry white toast please.
Mrs. Murphy: Y'all want anything to drink with that?
Elwood: No ma'am.
Jake: A Coke.
Mrs. Murphy: Be up in a minute
#2
Mrs. Murphy: Don't you "Don't get riled, sugar" me! You ain't goin' back on the road no more, and you ain't playin' them ol' two-bit sleazy dives. You're livin' with me now, and you not gonna go slidin' around witcho ol' white hoodlum friends.
Matt Murphy: But babes, this is Jake and Elwood, the Blues Brothers.
Mrs. Murphy: The Blues Brothers? Shit! They still owe you money, fool.
Jake: Ma'am, would it make you feel any better if you knew that what we're asking Matt here to do is a holy thing?
Elwood: You see, we're on a mission from God.
Mrs. Murphy: Don't you blaspheme in here! Don't you blaspheme in here! This is my man, this is my restaurant, and you two are just gonna walk right out that door without your dry white toast, without your four fried chickens, and without Matt 'Guitar' Murphy!
#3
So are you willing to reach into your pocket and pull out roughly $3,200 for every member of your family to see every student loan in the U.S. just written off? Do you have $3,200 for every member of your family that you can afford to contribute to the project to end student loans? Probably, but it would be money you'd miss.
I guess just writing them off isn't the answer. But why is it that today's adults struggle so much with student loans when the previous generations didn't have these problems? The answer can be found in one word. Change.
Flash back to 1970. A typical household of two adults and two kids had one car (two in more affluent areas). Two televisions but no cable. One phone line. Health insurance came from the breadwinner's employer, or was available at an affordable monthly rate. Families bought savings bonds to pay for college. Most kids went to public schools because the majority were still great skills. IIRC, Santa Monica High School taught four or five foreign languages. The science program was outstanding, with a Marine Biology course that actually did scientific measuring of the waters and life near the pier.
Now it's 2013. The typical household above has to have two cars. Otherwise they can't get the kids to all of their activities. Soccer, little league, classes outside of school and so on. Both parents may well be working while juggling their children's schedules.
What's really different is that they now have a bundle of monthly expenses no one had ever anticipated in the 1970s. A family cell phone plan so that everyone has a cell phone in case of emergency and to stay in touch. A bill for cable TV or satellite TV. A bill for the high speed internet connection in the house. Hundreds of dollars spent each month on these things that were never part of the family budget back in the "good old days".
It should also be noted that the cost of education has risen faster than the rate of inflation, due in part to these factors. Universities have to have IT departments now, and make sure there is access at every single point on campus. But there's another factor that is driving the cost of education that we don't see. Healthcare.
Wait, healthcare is a problem for every industry, every company, every person. True. It's just a bigger problem in institutions engaged in education. There is a proven correlation between the level of education within an employee group and the level with which they consume healthcare services. The better educated the employees, the more money that must be spent on their healthcare. They are more willing to use their benefits. They go to the doctor more often. They seek mental health services at a higher rate than the population that doesn't have advanced degrees. All of those things cost money and insurance premiums rise faster for businesses with better educated employee bases.
So if it feels like your struggling harder and ending up with less than your parents, there are reasons. You're having to do more, with less.
* * *
Clearly the Emmy nominations aren't a contest about what's popular with viewers. At least as far as dramatic shows go. The drama category is dominated by cable programming once again this year, with broadcast network drama programs garnering only two nominations in the major categories. NCIS is the most popular drama on television. It's the most popular show on television this past season, period. It outdrew even Sunday Night Football on NBC. There are four dramas among the top ten rated programs and none of them garnered a nomination in any of those categories. NCIS was honored with it's third nomination in history, this one for stunt coordination.
The Emmys are a popularity contest, with people who are far more enamored of shows with "edge". The edge that being on a cable network provides, where the rules and the wardrobes are much looser. Like the Oscars, what the people who are actually paying the bills think isn't important.
That's fine. We just need to recognize these awards for what they are. Actors, directors and writers telling other actors, writers and directors who they felt had the best programming on air the past season. It isn't about ratings or popularity. It is totally self-aggrandizing peer recognition in a closed community.
* * *
Random ponderings:
Will President Obama ignore the call from the parents of Trayvon Martin to get personally involved in the effort to bring about a federal civil rights case against George Zimmerman? I hope he will continue to give wise counsel and otherwise stay out of it. Far better to work toward modifying stand your ground laws than filing a case that isn't legally sustainable.
Should we be surprised that a potential witness against reputed mobster Whitey Bulger was found dead under mysterious circumstances? Probably not.
Is the filing by the City of Detroit for bankruptcy protection going to get people to understand that our state, county and city governments are in a financial crisis? Probably not. FYI, Detroit is $18 billion in debt.
How cool was it for a waitress to write a note to a patron, giving her a big thumbs-up for breastfeeding at the table? Very cool if you ask me. Women shouldn't be feeding their babies in restrooms. Do you want to eat in there? If you don't like it, don't look.
Is Joe Biden serious about running for the presidency in 2016? He will be 74, five years older than Ronald Reagan was when he was elected for the first time in 1980. If Reagan was too old in the minds of many, what would that make Biden? Funny thing is I wouldn't vote for whoever else is running because Biden is too old in my mind, I wouldn't vote for Biden because his misstatements make me think he's not 100% mentally fit, and because he is a confirmed plagiarist.
* * *
This Date in History:
On this date in 1290, King Edward I issued the Edict of Expulsion, ordering all Jews to be banished from England.
On this date in 1870, the First Vatican Council decrees the dogma of papal infallibility.
On this date in 1914, Congress forms the Aviation Section, U.S. Signal Corps, giving official status to aircraft in the Army for the first time.
On this date in 1925, Adolf Hitler publishes "Mein Kampf."
On this date in 1942, Germany conducts a test flight of the ME-262, first time a jet engine was used in a military aircraft.
On this date in 1968, Intel is founded.
On this date in 1969, Senator Ted Kennedy drives his car off a bridge at Chappaquiddick Island. Mary Jo Kopechne, a passenger in his car dies.
On this date in 1976, gymnast Nadia Comaneci scores the first perfect "10" in an Olympic competition.
On this date in 1984, 21 people are brutally murdered at a McDonald's in San Ysidro.
Famous Folk Born On This Date:
Machine Gun Kelly (the gangster, not the radio DJ)
S.I. Hiyakawa
Andrei Gromyko
Harriet Nelson
Hume Cronyn
Red Skelton
Nelson Mandela
John Glenn
Kurt Masur
Hunter S. Thompson
Paul Verhoeven
Dion DiMucci
James Brolin
Martha Reeves
Steve Forbes
Richard Branson
Anne-Marie Johnson
Wendy Williams
Vin Diesel
Today's movie quotes come from 1980's "The Blues Brothers" just because I felt like using that movie:
Mrs. Murphy: May I help you boys?
Elwood: You got any white bread?
Mrs. Murphy: Yes.
Elwood: I'll have some toasted white bread please.
Mrs. Murphy: You want butter or jam on that toast, honey?
Elwood: No ma'am, dry.
[Mrs. Murphy gives him a look, then turns to Jake]
Jake: Got any fried chicken?
Mrs. Murphy: Best damn chicken in the state.
Jake: Bring me four fried chickens and a Coke.
Mrs. Murphy: You want chicken wings or chicken legs?
Jake: Four fried chickens and a Coke.
Elwood: And some dry white toast please.
Mrs. Murphy: Y'all want anything to drink with that?
Elwood: No ma'am.
Jake: A Coke.
Mrs. Murphy: Be up in a minute
#2
Mrs. Murphy: Don't you "Don't get riled, sugar" me! You ain't goin' back on the road no more, and you ain't playin' them ol' two-bit sleazy dives. You're livin' with me now, and you not gonna go slidin' around witcho ol' white hoodlum friends.
Matt Murphy: But babes, this is Jake and Elwood, the Blues Brothers.
Mrs. Murphy: The Blues Brothers? Shit! They still owe you money, fool.
Jake: Ma'am, would it make you feel any better if you knew that what we're asking Matt here to do is a holy thing?
Elwood: You see, we're on a mission from God.
Mrs. Murphy: Don't you blaspheme in here! Don't you blaspheme in here! This is my man, this is my restaurant, and you two are just gonna walk right out that door without your dry white toast, without your four fried chickens, and without Matt 'Guitar' Murphy!
#3
Mr. Fabulous: No, sir, Mayor Daley no longer dines here. He's dead, sir.
posted by me at 1:53 PM
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