Has Government Sold Out?

The Occupy Wall Street protests illustrate the public’s outrage that the government is in bed with big businesses. The escalating costs of campaigns and the influence of interest groups illustrates the power of money. For this reason, government should significantly limit the amount of money any candidates running for public office can raise and spend for campaign purposes. This would prevent the escalating greed in Washington among career politicians who are more concerned with increased power than the needs of U.S. citizens.

Ninety-three to ninety-four percent of congressional seats are won by the candidates who spend the most money campaigning. This can in part by explained by the iron triangle concept. This concept states that interest groups, congressional committees and executive agency personnel make political deals that are mutually beneficial. Thus, Congress passes bills that benefit business interest groups in exchange for campaign contributions. Business interest groups are one of the largest financial contributors to government candidates and political action committees (PACs). Moreover, business interest groups are one of the most influential interests groups. Can anyone say conflict of interest? In any other setting this kind of relationship would be considered unethical and grounds for job termination (e.g. in most cases, acceptance of a gift more than $20).

Reducing the cost of campaigns would also allow more individuals to enter the political arena, individuals who may have more appropriate expertise. This would also create a more relatable governing body. Most politicians make considerably more than the average American. How then, can politicians realistically relate to the plight of the average-Joe?  Politics should be about the greater good and opportunities for all. How can this be obtained when politicians have their hands in the pockets of big businesses, and greed and corruption is pervasive? 

College Debt: Institutional Greed or Misguided Student Choices?

College education and costs are a hot-topic as the country’s economy continues to struggle. The American Dream is in part synonymous with the belief education spawns prosperity. However, as the cost of college continues to rise—a 5% increase from 2009 to 2010—the American Dream seems less and less tangible. The blog article “Creating a Brighter Future” highlights this topic. The article emphasizes students’ struggle for prosperity by means of a college education, which results in anything but success. Instead, college graduates average $25,000 in debt and they struggle to find jobs. While the blog article accurately illustrates the struggle for a better future weighed down by college debt, as confirmed by Huffington Post and CNN articles, there is more to the story than meets the eye.

While the cost of college, and consequently students’ debt, continues to climb, there is sophisticated investment and half-hazard investment. Three factors come into play when considering college investment: 1) the school of choice, 2) the form or source of student loans and 3) the chosen career path. According to USA Today, twenty percent of college-bound high school graduates attend out-of-state schools, which significantly increases the cost of college. Moreover, half of those out-of-state college-bound students attend private institutions, which naturally result in increased college costs and debt.

Besides the initial cost of college, the form of borrowing to pay for college matters. Lauren Asher, the TICAS president, eloquently emphasizes smart borrowing in her quote “How you borrow, not just how much you borrow, really matters (Huffington Post).” Twenty-two percent of 2010 college graduates’ debt is in the form of private loans, which are notorious for “higher interest rates and fewer borrower protections (Huffington Post).” Students are encouraged to utilize federal government loans before seeking private loans; however, evidence indicates many students do not heed this advice.

Furthermore, certain career paths are bound to encounter more roadblocks to success than others. Engineering and health care majors tend to be the most lucrative college degrees, while the social science, fine arts and education degrees tend to be the least profitable college degrees (CBS News). While enjoying what you do professionally is invaluable and tends to lead to success in that given field, it does not guarantee a job out of college or financial stability and success. Consequently, choosing a college major is an art and must be bound by the reality of the job market. 

Thus, while the blog article highlights an important and relevant current issue, it is not as simple as depicted. Yes, college debt is escalating but is outrageous college debt a product of poor personal investments and decisions or organizational factors of the education institution? Granted, it is a combination of the two but people can take an active role in minimizing their college debt and jump-starting their path to success. Moreover, while additional opportunities to minimize college debt are bound to be successful and helpful, there are already an array of tools in place to help people tackle their college debt as detailed in the CNN article, “Student loan debt—how to get relief.”