Originally Posted by crockett

I disagree with you one a simple fact.. Education. While in this era education can be gained from many more places but it is a somewhat recent development that kids are put 50-100k in debit just to go to school to get an education.

Kids used to get their student loans at affordable rates and were backed by the federal government. This is the backbone that allowed our country to develop at a very high rate after world war two.

It wasn't just that we no longer had serious competition from Europe, but that we invested in education. It was Republicans once again that we can blame for the soaring cost of college education that we see today and why kids with out jobs leave school owing on average $50-100k.

They pushed for the end of direct lend and to privatize the lending process (oh sound familiar?) they fell short but were able to make the govt loan process hard enough with extra layers of red tape that colleges simply went to the private sector.

We now start to reap the consequences of this action and it will continue to compound as time goes on. Obama has actually tried to reverse this and ironically was helped by the market disruptions, because schools had no choice but to switch back to direct govt loans, because they could no longer get funding for students from the private sector.