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originally posted by: jhn7537
If you really care to clean house, there's only ONE thing needed... TERM LIMITS in the House and Senate... No reason why anyone should be a career politician. You get in, you serve your two terms, you're out... If you want radical change, that's how you'll do it, and not by Bernie's plan...
originally posted by: peskyhumans
a reply to: SkepticOverlord
I just want to call BS on the graph in the OP. The cost of new vehicles has not dropped since the 1970's. The cost has increased, partly because of the addition of stupid safety features that aren't needed (anti-lock brakes, airbags, etc.) and the addition of unnecessary electronics (you shouldn't need a computer to start your car).
Personally I would love to get a new car with no electronics. Should the US ever come under EMP attack pretty much all of the vehicles made today would be useless lumps of plastic and fried circuit board.
You shouldn't need to go into over $10,000 of debt to get a new car. I don't think I will ever own a new car for that very reason - used lunkers are all I will ever be able to afford. I guess this is the new American dream, huh?
The cost of everything has risen. I agree that college and healthcare in particular have risen the most, but everything is more expensive today than they were 40 or 50 years ago.
“You have this dynamic of declining real wages and an increased need for a college degree,” she said. “And so what you end up having is more and more young people applying to college with fewer families able to pay for it.”
Over the past several years, various federal government agencies and state law-enforcement officials have accused many for-profit college companies of using heavy advertising and inflated graduation and job placement statistics to lure students into taking on loans. The increase in the percentage of students borrowing to attend for-profit college -- and two-year community colleges to a lesser extent -- accounts for a large share of the growth in the number of students struggling to pay off their loans or not paying them off at all
Right now, the bad actors in the college space have “misaligned” incentives, Bair said. Their aim is to enroll as many students as possible in order to get the federal loan dollars that come with them, “and if the kids can’t pay it, they don’t care. It’s not their problem, it’s the taxpayers’ problem,” she said.
The Great Recession, which reduced family income and assets, may have left families with fewer resources available to pay directly for college and may have lead to greater reliance on student loans.
The sharp contraction in the availability of many other forms of credit during and after the financial crisis—from personal loans to second mortgages—made it more difficult to borrow from traditional sources and therefore may have encouraged families to rely more on student loans instead of other means of borrowing.
Student loans may have become relatively more available because of changes in the laws protecting creditors, which may have encouraged lenders to offer loans to a broader set of less creditworthy borrowers.
The increase in enrollment in for-profit colleges, whose students rely more on federal aid and student loans, may have shifted the composition of students toward groups more likely to take out student loans.
Changes in the composition of the student body more generally, such as an increase in enrollment of students from lower- or middle-income households may have increased the proportion of students taking out loans.