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There is a well-known Aesop Fable entitled “ The Ant and the Grasshopper .”
The Ant works all summer preparing for winter while the Grasshopper squanders its time in non-productive pursuits. When winter comes the hungry Grasshopper comes to the Ant begging for food but is refused. The moral to the story is that provident behavior consisting of hard work and planning for the future is rewarded while failure to do this will have dire consequences.
Today, instead of Aesop Fables, we have Government Fables. One of these Government Fables, College Debt Forgiveness, closely parallels the Ant and the Grasshopper but with a perverted moral. Here, the Grasshopper’s irresponsible prodigal behavior with college loans is rewarded while the Ant’s responsible behavior (avoiding or paying off loans) is not. In addition, the Ant is shown to be a “foolish naïve chump” for doing the right thing.
Loans are a mainstay of both business and life. There are home loans, car loans, and credit card loans. Because of their ubiquitous nature, the concept and expectations of loans are easy to understand. Loans benefit both the borrower and the lender. Without having sufficient cash on hand, loans allow borrowers to have cars, houses and a college education. The lender is rewarded in this transaction by having the borrower pay back the original principal plus interest or a fee. It is a given expectation that the borrower will make good on the terms of the loan and pay back the entire loan.
We are now being told by a number of politicians (Senator Elizabeth Warren in particular) that college loans “are different” and have become a serious national problem. There are 45 million Americans who have student loan debt that averages $33,000. ( Translation: Of the 255 million Americans over the age of 18, there are 210 million (82%) who did not take out any student loans or, if they did, the loans were paid back in full .) For the 18 percent of the population with outstanding student loans, Congress and the president are proposing a “ one-time ” student loan forgiveness program of between $10,000 […]
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They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!
JD Rucker