Another more sinister and costly doubling has taken hold, and it doesn’t just affect students or grads. The steadily-increasing price of gasoline has threatened to derail what we are told is a rebounding economy. As an ever-larger percentage of the household budget, hard choices must be made each day just to afford to top off our tanks. Less money spent elsewhere in the economy does not create jobs. While the President is eager to be seen doing something to prevent students from paying higher interest on their student loans, he has shown very little leadership when it comes to driving initiatives to lower the cost of gas or create viable new jobs.·
We can just make out on the horizon (as we look toward Europe) yet another “two-fer” that will impact everyone, and not just students. More and more likely it seems that we may be facing a rapidly approaching “double-dip” recession. Britain, the most recent double-dip victim, is coming to terms with what this means for their economy. Yet we in the U.S. seem to think we can tax and spend our way out and avoid that fate.·
Although Ben Bernanke insists that our economy is “expanding moderately”, when asked about unemployment rates (and why people are dropping out the job market), he replies that many are “young people who are not out of the market indefinitely but are going to school or doing something else other than working.” Really? Like what? Organizing rallies for President Obama and attending Occupy Wallstreet sit-ins, perhaps?