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Reaganomics is a cancer, and we've reached its terminal stage

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From http://www.youtube.com/watch?v=O7Q1UfWYQkQ: Is Student Loan Debt Forgiveness a Good Idea? Student loans are difficult to repay in a sluggish economy, and many recent graduates are struggling under considerable debt.
Is Student Loan Debt Forgiveness a Good Idea? Student loans are difficult to repay in a sluggish economy, and many recent graduates are struggling under considerable debt.
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Our young people are drowning in a sea of debt, and it all started with Reaganomics.

And Reaganomics is a lot like cancer.

Most people don't know they have cancer until it reaches the later cancer stages, when it becomes much harder to treat.

In the early stages, cancer starts off as inflammation. A few cells grow slowly initially. But then, the cells begin to rapidly multiply, and the cancer begins to pick up steam.

As it picks up steam, the cancer takes on more and more of the body's resources, and starts stealing the body's energy and tissues.  Pretty soon, the cancer completely overwhelms the body and, without treatment, the person dies.

Reaganomics has done the exact same thing to our economy and to the American people, and right now, we're on life support.  For proof of that, just look at the student loan debt crisis in America.

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Billionaire banksters and for-profit schools are making a fortune off of America's young people.

The average debt for a 25-year-old American student has risen a staggering 91 percent over the past decade -- and most of that is student loan debt.

Over 38 million Americans have outstanding student loan debt right now, totaling over $1 trillion. Student loan debt exceeds both credit card and auto loan debt in America, and the average is over $23,000.

And, according to a study by Hamilton Place Strategies, by 2023, the average amount of debt that college students graduate with will equal what the median college graduate will earn every year. That's insane!

That same study found that average student loan debt at graduation has increased by over 200 percent since 1993.

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But it didn't always used to be like this.

Believe it or not, there was a time in America when the vast majority of college graduates didn't leave campus thousands of dollars in debt.

College used to be affordable for most Americans, and students could easily work their way through college to fully pay for it.

The number of baby boomers with college loan debt when they graduated is virtually nothing compared to the number of students with debt today.

But then Reaganomics started to kick in, and everything changed.

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http://www.thomhartmann.com

Thom Hartmann is a Project Censored Award-winning New York Times best-selling author, and host of a nationally syndicated daily progressive talk program on the Air America Radio Network, live noon-3 PM ET. www.thomhartmann.com His most recent books are "The Last Hours of Ancient Sunlight," "Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights," "We The People," "What Would Jefferson Do?," "Screwed: The Undeclared War (more...)
 

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The cancer has metastized into Clintonomics and ob... by Poor old Dirt farmer on Saturday, Mar 22, 2014 at 8:30:49 AM
not sure if this is fair. it started under reagan... by Paul Easton on Saturday, Mar 22, 2014 at 9:41:26 AM
Or yes i guess Obummer did up the ante quite a lo... by Paul Easton on Sunday, Mar 23, 2014 at 11:41:53 PM
I'm sorry but your half news doesn't cut it. Ther... by Lindsay Smith on Saturday, Mar 22, 2014 at 12:19:18 PM
I totally agree. He is full of it and just trying... by Bill Johnson on Saturday, Mar 22, 2014 at 1:33:18 PM
University students have a right to study ALL ECO... by Pal Palsimon on Saturday, Mar 22, 2014 at 5:01:13 PM
The right-wing version of 'freedom' is that you ar... by Samson on Saturday, Mar 22, 2014 at 7:36:12 PM
Sounds like the leftist professors too. Heck they... by Bill Johnson on Saturday, Mar 22, 2014 at 8:55:06 PM
Sure, and Bill Johnson will give them free books, ... by Pal Palsimon on Saturday, Mar 22, 2014 at 11:24:58 PM
Capitalism has become a dirty word, and justly so... by Pal Palsimon on Saturday, Mar 22, 2014 at 5:09:49 PM
Always has been.  Its why we abandoned unregu... by Samson on Saturday, Mar 22, 2014 at 7:40:34 PM
You bet. For hopeless poverty I dont think there ... by Paul Easton on Sunday, Mar 23, 2014 at 12:21:41 AM
The Supreme Court has eviscerated our already th... by Pal Palsimon on Saturday, Mar 22, 2014 at 5:31:26 PM
The answer to money power is people power.  W... by Samson on Saturday, Mar 22, 2014 at 7:42:49 PM
That's why you need to follow the link I gave abov... by Pal Palsimon on Saturday, Mar 22, 2014 at 9:49:59 PM
No way. American people are Zombies and they like... by Paul Easton on Sunday, Mar 23, 2014 at 12:26:20 AM
nice inspiration to call  the ds the dims. a... by Paul Easton on Monday, Mar 24, 2014 at 12:11:04 AM
Reagan truly was a cancer that has destroyed Ameri... by kappie on Saturday, Mar 22, 2014 at 9:51:26 AM
Actually I think Reagan was a decent guy as presi... by Paul Easton on Sunday, Mar 23, 2014 at 12:29:48 AM
Thanx Thom.  You have given ample reasons why... by Suzana Megles on Saturday, Mar 22, 2014 at 1:39:21 PM
I like biology analogies too; but have seen the p... by molly cruz on Saturday, Mar 22, 2014 at 2:03:53 PM
Yes Molly we certainly live in interesting times,... by Paul Easton on Monday, Mar 24, 2014 at 12:35:05 AM
I have more faith than you, apparently, in the hu... by molly cruz on Monday, Mar 24, 2014 at 9:28:59 AM
The thing I hated most about Reagan is he made ign... by intotheabyss on Saturday, Mar 22, 2014 at 4:22:24 PM
I always found it amusing when, after every one of... by Dennis Kaiser on Sunday, Mar 23, 2014 at 8:34:04 AM
Reaganomics has failed.  And it has done so i... by Samson on Saturday, Mar 22, 2014 at 7:33:14 PM
Reaganomics is frankly a cop out and I expect bett... by Poor old Dirt farmer on Saturday, Mar 22, 2014 at 11:09:45 PM
I am here to share my experience with Dr Raymond W... by Martina Sidney on Tuesday, Mar 25, 2014 at 6:47:50 AM