Saturday, October 15, 2011

Forgiving the Student Loan Debt

For over 30 years, the rich have gotten richer, the poor have gotten poorer, and the middle class is slowly but surely being squeezed out of existence. Instead of more of the same corporate welfare/"trickle-down" economics that have been an abysmal failure for the middle class, why not try a trickle-up approach to rebuilding our economy by targeting relief at those most likely to actually help grow the economy?

This type of debt is keeping many men from supporting their families the way they want to and should be able to.  They are told that an education is the way to better their life but are realizing in our current economy that they would have been better off working minimum wage because at least then they wouldn't have the debt to repay.  Student loans have been set up in such a way that many individuals will be paying them off for their entire lives.  IN our current economy individuals are being punished for educating themselves.  Schools, especially for advanced degrees ,which grants are not available for, and are necessary for many jobs now days, are charging out of control tuition that make loans necessary but these loans are near impossible to pay back.

I signed a petition to The United States House of Representatives, The United States Senate and President Barack Obama, which says:

"Forgiving the student loan debt of all Americans will have an immediate stimulative effect on our economy. With the stroke of the President's pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month with which to spend on ailing sectors of the economy. As consumer spending increases, businesses will begin to hire, jobs will be created and a new era of innovation, entrepreneurship and prosperity will be ushered in for all. A rising tide does, in fact, lift all boats - forgiving student loan debt, rather than tax cuts for corporations, millionaires and billionaires, has a MUCH greater chance of helping to rise that tide in a MUCH shorter time-frame. The future economic success of this country is wholly dependent upon a well-educated, prosperous middle class. Instead of saddling entire generations with debt from which there is no escape, let's empower the American people to grow this economy on their own!

Therefore, we, the undersigned, strongly encourage Congress and the President to support H. Res 365, introduced by Rep. Hansen Clarke (D-MI), seeking student loan forgiveness as a means of economic stimulus."

Will you sign the petition too? Click here to add your name:


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