Although our economy is facing many threats nowadays such as lack of jobs, a manufacturing base that is decimated, a tax system that is out-dated, and political leaders who’s best interest isn’t in the U.S., another dangerous threat to our economy is student loans. According to USA Today, one of the biggest threats to our economy is student loans. There is over $1.2 trillion of student loan debt currently owed. What used to be thought of as prestigious is now being considered as a toxic asset. Student loan debt is soaring as the rising generation is diving head first into an era where young adults are unable to save and invest their money. This isn’t only taking a toll on their personal lives, but it is causing long-term harm to America’s economy.
Tag Archives: Unemployment
U.S. restaurants are planning to boost prices 2 percent during the next six months due to the pressures rising beef, cheese, and pork prices. However this is causing major declines in sales due to people being price sensitive and not being able to afford higher meal prices. “If you encourage and kind of seed the notion that you can come in for a couple bucks and get some food, and then you can’t do that anymore, there’s bound to be a reaction,” said John Gordon, an adviser to restaurants and franchisees.
America is just throwing money at all of the problems that money will not solve, rather than looking for real, long lasting practical solutions. Between fighting a disease that is not a serious threat here in the U.S. to wasting money on programs that will do little to help college students’ futures. America must start looking for real solutions, not just new ways to spend money
With the holidays around the corner, Walmart along with Macy’s and other department stores are preparing their employees to work during the holidays. Walmart alone reports a million associates to work on Thanksgiving Day and Black Friday. More and more stores are jumping on the bandwagon and opening up on the holidays to attract shoppers. The issue here is that the U.S. is the only developed country that doesn’t guarantee paid holidays. Workers in the service sector industry barely even have a choice on either taking the holiday off or working. Nearly 40 percent of retail workers don’t even receive a minimum amount of hours.
Unfortunately for us, many of our “free trade” agreements have resulted in closed factories, soaring unemployment, and some communities engulfed in misery.