We are born into families and have several years growing up to become prepared to support ourselves. We naturally want to do this and prove that we can earn enough money to live on, because so few of us have trust funds waiting for us.
There are laws of economics our government has been ignoring that will cause us trouble. The first law is “Pay your Debts”. This avoids unnecessary interest charges that just make everything more expensive. Another law government breaks is the free market solution for determining “Prices” using the “Law of Supply and Demand”. Government subsidies result in suicidal price hikes like we see now in healthcare and education.
The only people who need a large loan are families who are buying their first home and businesses that require some cash infusion to get started. There are also those who need a car to get to work and need to take out a loan and pay it off. Families should work to refinance their loans to 15 years, so that they don’t have a house payment after that.
College loans should be avoided at all cost, especially when it is clear that the job you can get with your degree doesn’t pay enough to live on and pay off your student loan too. This may not seem “fair”, but it is our current reality.
There is a limit to what government can do. Our own free market system has been contaminated by socialist policies that hand out free stuff. This is unsustainable. It’s like squeezing a balloon. There is only so much air in the balloon, so when you squeeze it, if bulges out the other side.
For generations to continue to prosper, the only engine that drives this is free market, private sector economic activity. You need to make things other people will buy. We are in the process of restoring our free market economy, so pay attention.
Norb Leahy, Dunwoody GA Tea Party Leader