Student Loans & Bankruptcies (was Re: creative financing)

Yoshie Furuhashi furuhashi.1 at osu.edu
Sat Apr 21 03:53:28 PDT 2001


Gordon writes:


>Certainly, but the money is trivial. The government creates
>and destroys money like magic; it would take a serious
>destruction of wealth to overcome this magic and have any
>significant effect on anything -- certainly the petty
>thievery of student loan defaulters would not do it.

Neoliberalism for higher education:

* decrease grants for students; * decrease state support for universities; * increase low-paid "irregular" teachers; * raise tuitions; * increase student loans; * make debts more onerous, & collect, collect, collect!

Neoliberalism in general:

* decrease the budget deficit, so much so that the government sees a budget surplus; * roll back real wages & benefits; * increase individual workers' budget deficits & therefore indebtedness as well!

And now George W. Bush:

* use the budget surplus to give tax cuts for the filthy rich!

Yoshie



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