While on one hand the relentlessly rising total Federal
student debt crossed $956 billion as of September 30, and was growing at a pace
that will have put it over $1 trillion by the end of 2012, the one data point
confirming the size, severity and ultimately bursting of this latest debt bubble
was the disclosure in late November by the Fed that the percentage of 90+ day
delinquent loans soared from under 9% to 11% in one quarter. The "higher"
educational system, which now includes such vaunted institutions of learning as
study-in-your-pajamas.com and Everest University, is a huge racket that uses
taxpayer guaranteed "student loans" (good luck getting water from the rocks that
are debt-enslaved students, whether pre or post-bankruptcy), is a massive scam
designed around job security and wage security for literally tens of thousands
of "professors" (tenured or otherwise) and "deans."
In many respects, the higher education system mirrors the
for-profit prison system in the U.S., where the average cost of a year of
attendance at either institution is rising towards parity, and the U.S. taxpayer
is ultimately on the hook for the costs of incarcerating or "educating" either
the prisoner or student.
The prison and "college" subsidization needs to end. It's
total, unmitigated bullshit.
Taxpayers should not be shelling out $40,000 per year to
house prisoners who were sentenced to 3 years because some 19 year old had a
dime bag of pot, and they certainly shouldn't be shelling out $50k to 200k so
students can obtain a fine arts degree from the University of Pennsylvania or a
vacuum tube repairman certificate from ITT Technical
Institute.
I realize that taking many of the non-violent pot smokers
out of prison and rejecting 50k taxpayer loans to students of
educationconnection.com will adversely impact the for-profit Prison &
Education scams (where wardens & deans get compensated based on headcount),
but the shit has got to stop. Subsidization of banks, Wall Street, the defense
contractors, the prison racketeering operation and the education scammers is out
of control.
The moochers, leeches and parasites are in control. It's a dam joke from where I
sit.
And my taxes are being
wasted on it all
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