Economic Parasite: Debt In America Today

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Mrs. Williams English 01A September 19, 2014 Economic Parasite: Debt Debt is a Parasite which drains people of their resources causing a shift in society. It feeds on the fear, anxiety, and impulsiveness of people to grow and destroy people’s lives. Debt grows in a variety of ways. The two most abundant forms of debt are credit card debt and student loan debt. These two forms of debt are the most vicious forms of debt currently attacking the young adults of America today. Credit card debt is the forbidden fruit, it’s there right in front of you, attaining it is easy and possibly fun along the way, but once you take that first bite you are stuck in a seemingly endless cycle of sadness, anxiety, fear, confusion, and suffering. Credit…show more content…
Rationally the logic is sound, we take on debt in order to get a good paying job which we can use to pay it back later. Unfortunately it’s not that simple anymore. College used to be the place you go in order to get better jobs than the rest of society, kind of like a shortcut to success. Nowadays that is no longer the case, in fact, the opposite is true. If you don’t go to college, you are almost guaranteed to not get a job, or if you do it will only be a minimum wage job, with no job security, that won’t even pay for the cost of living. Even worse, even if you go to college you are no longer guaranteed the jobs which can put you ahead. So the end result is that you are stuck with a debt that you can’t pay back because you don’t have the good paying job which you were promised. Collectors will be breathing down your throat to get the money that you borrowed. And the biggest kicker of all, even if you file for bankruptcy you can never get rid of your student loan debt. This kind of debt is one of the most crippling forms of…show more content…
Where are they in the picture? Far too often, they’re in on the Profit-Mongering. This is especially true of big state universities. The university of Tennessee, for example accepted $16 million from First USA (now Chase), in exchange for exclusive marketing rights on campus, If we are able to ban these kind of invasive, manipulative sales tactics then we will see a sudden drop in the amount of credit debt owed in this country. These companies which profit off the impulses of the weak will no longer hold sway over our government like they do. James D. Scurlock wrote about the rising amount of influence the credit card companies hold in his article “Maxxed out”, “When it came time to testify, however, Trisha and Jane found themselves opposing the financial industry and its lobbyists, who were ‘discussing how much money they contributed to each congressman’s campaign’,” (Scurlock 154) For student loan debts we can bring back the near extinct concept of “Grants” which is where money is given, not lent, in order for students to achieve educational success. The money given from the government to the student pays for the student’s education so that when he is done with school, he goes out, gets a good job and makes society better in a little way. And when many make something just a little bit better, then the whole things starts to get noticeably better
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