A Quote by Elizabeth Warren
Student loan debt is crushing young people. And so they're not doing the things we would expect them to do. They're not moving out of their parents' homes in as big a numbers, they're not saving up money for down payments, they're not buying homes or cars or starting small businesses or doing any of the things that help move this economy forward.
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Overwhelming, student loan payments are holding millions back from buying homes, starting families, and saving for retirement.
Of course we believe these things. We believe in social security. We believe in work for the unemployed. We believe in saving homes. Cross our hearts and hope to die! We believe in all these things. But we do not like the way that the present administration is doing them. Just turn them over to us. We will do all of them, we will do more of them, we will do them better and, most important of all, the doing of them will not cost anybody anything!
I never considered interior design as a career option. I had designed a couple of our homes, and people liked my work. Friends came forward and asked me to help them do up their homes, and that's how it started.
The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.
Unfortunately, this will have a ripple effect in the economy. People carrying heavy student-loan debt won't buy houses, start families, or start businesses. This will hurt the future economy.
If we wanted a program to help the majority of the population, we'd offer loan guarantees to help poor people get access to reliable cars so that they could have a better shot at getting - and keeping - a well-paying job...A small amount of capital could make a much bigger difference in their lives than extra student loan relief for middle-class college kids would.
I blame all the craziness of people buying houses, re-doing them and selling them, on these programs on television where they are redoing your homes and kitchens.
The reality is the most important thing that can be done are these permanent changes like to the tax code, reduction of government spending. These are the things that pop up in economy and move it in the right direction, start to make it an economy that is moving because of the money in the private economy. When you think about it, when the Fed is lowering an interest rate, what it's doing is it's creating more liquidity. It's putting more money into the economy. The same thing happens when you reduce the tax except if happens from physical policy.
There's one other element I just want to be sure to mention here: that is that there are 43 million young people who are locked into predatory student loan debt for whom there is no way out in the foreseeable future given the economy that we have: this predatory Wall Street driven financialized low-wage service industry economy.
That's a big part of my life - doing things that I'm not prepared to do. Doing things that I don't know how to do, and keep doing them until I get good at them. I always try to put myself out of my comfort zone and out of my depth, and hopefully somewhere along the line I'll catch up.
After getting driven into the ground by the policies of the Bush administration, the economy is creeping up. It's doing that because people are sticking their shoulders to the wheel. Community banks are doing a lot of lending to small businesses and keeping them going.
The revival of consumers saving their money for retirement - rather than expecting their homes to provide the cushion - added with 'move down' buyers will depress real-estate prices.
In the wake of the housing debacle in California, more people are buying less expensive homes, making bigger down payments, and staying away from 'creative' and risky financing. It is amazing how fast people learn when they are not insulated from the consequences of their decisions.
The things to watch are whether the country's borrowing costs are rising, whether its budgetary allotment for payments on the debt is increasing, and whether it is spending on good priorities. Those big, scary debt numbers are not as big and scary as they used to be.
We're emotionally unfit. We expect things to be given to us that other generations had to earn. We think we're supposed to get homes with no money down and be supported by the government if we're unemployed.
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