Wednesday, February 25, 2009

Next Burst Bubble: Credit Cards?

Along the lines of deciphering where debt that can't be repaid is, Arianna Huffington at HuffPuff suggests Credit Cards are next.

I, for one, am not looking for any bailouts. I paid off all the credit card debt that I had accrued in college while studying abroad and being on three leases at one time (one in school, one where I interned (Atlanta/Orlando successively), and one in Rome. But, if we are going to punish the predatory, when do student loans get looked at?

The rise in tuition over the last twenty years spiked similarly to housing, but proportionately much worse. Obama addressed making college affordable again to those who seek it, which is admirable, but what about those of us that got caught in the cross-fire and are already thru school and saddled with debt?

The Millennial generation is the one spending right now, and perhaps foolishly. What if we didn't have to pay half (or more) of our rent on repaying greedy shitheads that saw college students for suckers?

Oh well. I'll just soldier on. Or as Mayor Carcetti says, "how many bowls of shit do I have to eat from these guys?"