In 2013, the United States spent over $300 billion on importing oil. Essentially two-thirds of the country’s entire annual trade deficit can be blamed on oil imports! Oil is sucking hundreds of billions of dollars a year out of the U.S. economy. If we became energy independent, our trade deficit would be cut tremendously. Not only that but our money could begin to go to American-owned energy producers.
Tag Archives: Unemployment
Unfortunately for us, many of our “free trade” agreements have resulted in closed factories, soaring unemployment, and some communities engulfed in misery.
A recent study done by Bankrate.com shows how millennials are putting their future on hold because of the burdening student loan debt. In fact, 56 percent of young adults interviewed stated that they are holding off on buying their first home until they fully pay of their student loan debt. If something isn’t done about the $1.2 trillion owed in student loans across America, our economy could completely collapse.
When the Soviet Union fell, the world rejoiced and the Cold War ended. Some predicted an “end of history” and smooth sailing from there on out. Reality has been very different, because just as the Cold War was ending, an economic war with China was beginning. In truth, it has not been much of a war; more like a one-sided slaughter. The reason for this is the United States will not wake up, does not even want to acknowledge the war has long since begun and it is losing.
It is becoming more and more evident to people that student loans are a burden to everyone. We keep hearing that the economy is improving and that jobs are being added and wages are supposedly rising. If that were the case, why is it that student loan delinquency is at an all time high?