When my husband graduated from pharmacy school in 1973, he owed about $15,000 to $20,000 in student loans. This was about the price of an average, basic home in Lancaster, PA. We felt overwhelmed too. However, it seems that though the years, the average student loan owed keeps pace with the price of an average house. The lawyer's $200,000 owed is about the price of basic homes now.
The lack of real wisdom these kids show is very scary. Their book knowledge is the least of all knowledge they will ever need.
Mike, I believe that your young guest tonight has the wrong definition of American Exceptionalism. We, as individuals, are no more exceptional than any other. Our country is governmental system is "Exceptional" because it allows any individual no matter where they came from or their status to exercise the freedom to strive to become who they want to be through their own work and of course the help of others. We are not entitled to anything. We are not entitled to be better off than the previous generation. That is our dream for ourselves and our children, but we are not entitled.
As a gen-X'er, it pains me to see what's about to befall the Millennials. Your guest is right -- they probably won't see a cent of Social Security or Medicare, even though they're paying into them. What really kills me, though, is that we knew a long time ago that this would happen. I recall telling people when I was 17 -- back in 1987 -- that I'd never see one cent of Social Security, and if I wanted a decent retirement, I'd have to save until it hurt. Fast-forward 25 years, and nothing has been fixed.
I am a frustrated politicaladdict. I am 96 years old with the politic savvy learned as a result of a life time actively engaged in the political life of Nassau County om Lomg Islandand for years the top vpte-getter in the Town of Oyster Bay. I am amazed at the ineptitude of our most prominent 0fficials and aspirants. I can do nothing about it.
For example I read that the Obama forces have raised Romney's handling of Bsin as a disqualification for the presidency. What is the republican response? Nothing!
An effective response might be: When Romney headed Bain and other corporations his obligation was to make money for the stockholders. Apparemtly he did a good job.As president his oblibation will be to do a good job protecting the interests of the united States and its citizens.
Francis J Donovan (retired judge)