Income Redistribution: Average Student College Loan Is Going Up and Up and Up!

The average college student who graduated in 2011 had $26,600 in student loans, according to a new report, which estimates two-thirds of 2012’s college graduates had student loan debt.

The average debt is the largest since the Institute for College Access and Success began compiling the figures in 2005, and it comes amid soaring college costs, record loan defaults, and a persistently difficult job market for college graduates.

While unemployment among college graduates is only slightly higher than the overall rate, the study found a stunning 37.8 percent of recent graduates are working in jobs that do not require a college degree. The study said that means wages are depressed, making the situation for graduates even more difficult.

“Recent college graduates have entered an enormously difficult job market, which poses particular challenges for those who need to begin paying back student loans,” the study said.

There are several things the study did not say. For example, student loans have been pushed on students by Wall Street, which influenced congress and President Ronald Reagan to cut federal grants so that students would need to borrow more and more money in order to obtain an education. Investment firms take the loans, slice and dice them, and use the payments to back bonds, which they sell to rich investors. That means the payments made by students go directly into the pockets of the 1 percent because the government under Reagan decided this was a good income redistribution scam. These same rich investors receive all sorts of government welfare, and they’re shipping jobs overseas and destroying the US tax base in the process.

In other words, student loans are a carefully orchestrated scam by the 1 percent to redistribute income from the 99 percent to the 1 percent.That’s why student loan debt exceeds over a trillion dollars and is greater than all US credit card debt, which, coincidentally, is another income redistribution scam perpetrated by the 1 percent.

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The Lie About Social Security

Social Security is fiscally sound. Nonetheless, members of the one percent continue to misinform the American public on this matter. Social Security has a $2.6 trillion surplus that earns roughly $118 billion in interest since the surplus is invested in U.S. treasury bills. Some of the one percent pretend these are “worthless I.O.U.s, but they know the US government has never failed to pay any part of its debt in its history. They keep repeating the lie.

click here for "The Great Misinformation Campaign About Social Security"

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U.S. set for fourth year in a row of $1 trillion-plus deficit According to the Congressional Budget Office

The United States isn’t heading for a economic disaster, not yet anyway since were still in one, but it is heading toward another trillion dollar deficit. You’d think the folks in Washington would figure out that redistributing income and wealth from productive working people to the unproductive parasites of the affluent class reduces the demand for goods and services in roughly the proportion as the redistribution. Unfortunately, the rich folks hijacked our government long ago, so don’t expect jobs to increase at a serious enough pace to enhance federal tax receipts enough to significantly reduce the deficit.

Click here for more on the deficit

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