So I recently heard about a petition being signed and sent to President Obama which proposed a new angle in stimulating the economy... I visited the petition's website and here is what I found out:
"Over the past twenty years, student loan debt in the United States has more than doubled. We are now graduating students with a marvelous skill set as well as a mountain of debt. If we were to take our tax dollars and invest them in paying off student loan debt in this country, we would be investing in our future and in ourselves. Many individuals and families pay more than a third of their monthly income to student loan debt. If we free up this earned income by paying off debt, our educated masses in this country could create new businesses, invest in homes, and become a foundation for the new economy. This will have a much deeper positive impact on all Americans than handing bailouts to corporations who have no impetus to invest in this country."
- Kevin M. Bartoy, petition sponsor
Being a recent graduate with about 25k in school debt, I am a signer of that petition and I believe that it is a pretty darn good idea. We're all struggling to make ends meet, how are we suppose to invest or even think of home-owning when we've got these DREADFUL bills clutched to our ankles. Ideally, once you graduate with a nice little degree you are suppose to be able to get a job and pay off your loans easily, right?
Wrong!! Especially not in these times when most jobs are closer to being extincted than China's Giant Panda.
25k... ewww, that's sooo much money I don't get to keep! So on a less serious note I thought it'd be kinda fun to research a few things I would be able to buy with 25k instead of paying my loan!
* 125 Kate Spade sunglasses
* 25 baby pugs
* 250 facials
* 16,000 Muni tickets
* an entire H&M store
* dinner for two at the Cheesecake Factory 500 times
* 16 Round trip tickets to Paris
* 20 Burberry handbags
* 83 matching Burberry scarves
* 10 Superbowl tickets for 2010 game
* And 25,000 Red Box movie rentals!
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