Title: Today's Wall Street Journal has an Article about Student Loan Debt. Here's a Solution.
Author: Andrew M Molchan
Date: Wed July 18th, 2012
July 18th 2012, ANDY'S UNPOPULAR INSIGHTS. Today's Wall Street Journal has an Article on page A6 about Student Debt.
The articles says that student debt is now over one Trillion (with a T) Dollars and "raising sharply." That's MORE Debt than car and credit card Debt. The student loan delinquency rate on the one Trillion is ALSO going up fast.
The WSJ says, "High delinquency rates on student loans are causing concerns among economists because delinquencies damage a person's credit, making it harder for consumers to borrow."
A Lack of Credit IS without question America's #1 Problem. The FED has repeatedly said over and over that BORROWING and Debt is what made America a Great Nation. Debt is like life itself. Any slowing of Debt has to be considered as akin to a major military attack on America.
The SOLUTION is for Congress to immediately pass a law giving EVERYONE an AAA Credit Rating, and making it illegal for that rating to be lowered for any reason whatsoever. This would make America, "Fair and Equal."
Then Everyone would be able to borrow, borrow and borrow. With all of the new Debt, and the explosion of Consumption it would power; America would enter a Golden Age of TOTAL PROSPERITY and fabulous riches for Everyone. There would be no poverty anywhere in America. EVERYONE would be driving a new expensive car, have a Gold American Express Card in their pocket, and be eating T-Bone steaks in their Las Vegas Penthouse. The FED's, and Democrat Party's Dream for America would become a reality.