Basics, not luxuries, blamed for high debt
From the Washingtonpost.com/MSNBC.com we have this report that American consumers are up to their ears in debt because real wages have been flat since 2001 and the cost of housing, food and cars has risen 11.2%.
Although this report is careful not to blame your averaged debt-addled American for his or her spendthrift ways -- which is actually what the debt/credit culture would like us to buy into -- especially all those Money Magazine advice columns letting you know how much you could save if you just didn't splurge on $3.50 lattes everyday.
The Study was commissioned by the Center for American Progress, but I have yet to find it online. Student debt since 1992 has increased 127%. I would like to see a study about how this influences students' ideas about post-secondary education.
Debt demands greater study -- at every level -- economicallly, philosophically, politically and ethically. Kudos to those who are taking this on.
Although this report is careful not to blame your averaged debt-addled American for his or her spendthrift ways -- which is actually what the debt/credit culture would like us to buy into -- especially all those Money Magazine advice columns letting you know how much you could save if you just didn't splurge on $3.50 lattes everyday.
The Study was commissioned by the Center for American Progress, but I have yet to find it online. Student debt since 1992 has increased 127%. I would like to see a study about how this influences students' ideas about post-secondary education.
Debt demands greater study -- at every level -- economicallly, philosophically, politically and ethically. Kudos to those who are taking this on.
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