Privately held student loan debt surpassed 1 trillion dollars last November. More money is owed in student loans than in privately held credit card debt. This past year, bank write-offs of student loans are up almost 35% from the previous year. Almost every single market signal indicates a growing student loan bubble is on the verge of popping. Many economists agree the student situation is very similar to the 2008 housing crisis; the student loan industry is still receiving massive subsidies and false incentives by the federal government. In order to fully understand the student loan crisis we must first look...
In response to:
This reminds me of Lyndon Johnson's 'war on poverty...great society' in the late sixties when he pumped billions of dollars in the urban poor communities with the intent of eliminating poverty. Those people gobbled up that 'free money' and they partied, they bought drugs, alcohol, new cloths, cars, gambled and went on vacation. When anyone even mentioned paying that money back, they laughed. However, Johnson did accomplish his goal. They have been voting Democrat every since. Giving away other peoples money works every time it has been tried.
- Quotes of the day Allahpundit 8 hours ago
- Video: Losing Andrea Mitchell Mary Katharine Ham 9 hours ago
- Boehner: Obama lawsuit will focus on Obamacare enforcement Mary Katharine Ham 10 hours ago
- Ann Coulter: Chris McDaniel’s killing his political future by contesting the Mississippi runoff results Allahpundit 10 hours ago
- Watch Jake Tapper embarrass pro-Hamas attorney Noah Rothman 11 hours ago
- Joe Scarborough: Glenn Beck is following Jesus’s playbook in providing humanitarian aid to young illegals Allahpundit 12 hours ago