The Human Capital Contract

One of the hot button issues in the 2016 election will be education and student loan debt……everyone will have an idea and all will fall short of preparing the student to function in the 21st century world…..

GOP presidential candidate hopeful Marco Rubio has a big idea for getting a college education……

In the speech, Rubio also called for a “revolutionized” higher education system. If elected president, he promised to “bust…the cartel of existing colleges and universities” by loosening the rules for accreditation so that “innovative, low-cost competitors” can court students. But critics say the government accreditation process is already far too loose, allowing predatory for-profit chains like Corinthian Colleges to win federal approval and funding even as they mislead students into paying for essentially worthless degrees.

He expanded on this idea in a speech last year:

Let’s say you are a student who needs $10,000 to pay for your last year of school. Instead of taking this money out in the form of a loan, you could apply for a “Student Investment Plan” from an approved and certified private investment group. In short, these investors would pay your $10,000 tuition in return for a percentage of your income for a set period of time after graduation – let’s say, for example, 4% a year for 10 years.

This group would look at factors such as your major, the institution you’re attending, your record in school – and use this to make a determination about the likelihood of you finding a good job and paying them back.

Unlike with loans, you would be under no legal obligation to pay back that entire $10,000. Your only obligation would be to pay that 4% of your income per year for 10 years, regardless of whether that ends up amounting to more or less than $10,000.

But these “Student Investment Plans,” which also have the Orwellian name “human capital contracts,” raise many serious concerns. For one, investors may refuse to cover entire fields of students not likely to bring in the big bucks after graduation, or would charge them a staggeringly high percentage of their income. For those backing this plan, such as the conservative think tank American Enterprise Institute (AEI), this poses no problem.

I agree that education ans student debt is a growing problem…..but I do not see the advantage to Rubio’s proposal……..

Sorry people but his idea sounds a lot like a form of slavery……..kinda like debt labor………Describes slavery in which an individual is compelled to work in order to repay a debt. It differs from other forms in that, often times the laborer and the employer initially enter into a mutual agreement. However, contract conditions may be illegal and/or vastly more beneficial to the employer than the laborer. These workers become slaves when they continue working, but cannot pay off their initial debt because of exploitative contract terms and, thus, cannot leave.

Sorry, Mr. Rubio but your proposal smells like slavery……..

Use Iceland As An Example

Surely everybody remembers the economic crisis of 2008………can you remember all the debate of whether to let the thieving banks to go bust of not?  There was also a debate on whether the CEOs of said banks should be held responsible…….how about the term “too big too fail”?

I have written about what Iceland decided to do in the past……and today it looks like their plan was far superior to any plan we had here in the states……

Maybe we should take a good long look at what Iceland did…….and learn from their example…..


Three charts that show Iceland’s economy recovered after it imprisoned bankers and let banks go bust – instead of bailing them out – Business News – Business – The Independent.

Is This Fiscal Responsibility?

Every time a Repub gets in front of a microphone we hear just how bad our national debt is……or just how bad our out of control spending is getting…….or how we must spend our way to victory over ISIS…….all of which is a bit confusing.

Do we control our spending…..unless we are invading some country or another?  Where is the line of spending constraints?

For instance……just what are we spending fighting ISIS?

Glad you asked!

The US has spent more than $2.7 billion on the war against ISIS militants in Iraq and Syria since bombings began last August, and the average daily cost is now more than $9 million, the Pentagon said yesterday. Releasing a detailed breakdown of the costs for the first time, the Defense Department showed that the Air Force has borne two-thirds of the total spending, or more than $1.8 billion. The daily combat, reconnaissance, and other flights eat up more than $5 million a day. The data also provided a rare look into the often secret special operations costs, which totaled more than $200 million since August.

Other total costs include $438 million for the Navy, including fighters and other ship support; $274 million for the Army, which has trainers and special forces troops on the ground; $16 million for military pay; $646 million for munitions; and $21 million for intelligence and surveillance operations. The release of the spending totals came as Congress debated and rejected legislation yesterday that would have banned spending on the combat operations until lawmakers passed a new war powers resolution.

The US has spent  $2.7 billion fighting ISIS……..and just what has the money accomplished?  No, really, what?

Has it stopped the spread of radical Islam?  Is ISIS near defeat?  Is Iraq a better place?  Is Syria moving in the right direction?

Someone, anyone……please let me know just what you think we have accomplished for the money spent……..ANYONE?

Here is a thought……… case you were wondering…….

Embedded image permalink

Can you think of better uses for a trillion dollars?  I can think of several and war is NOT one of them…….but please you tell me……

Republican Misrule | The American Conservative

Every time I hear a politician tell me how great my state will be if only conservatives ran everything……well my state has been run by cowardly conservs for a long time…..then I tell people to go to a stat site on economics and social issues and look at Mississippi…..we are always on the top of a worse list and the bottom of a best list….that is what conserv rule will do to your state….

While surfing the other day I found a piece in the American Conservative (that;s right…I read conservative stuff also)….it goes along with what I am saying about one party rule at the state level……

Read it and LEARN!


Republican Misrule | The American Conservative.

Take Action: Oppose $96 Billion Slush Fund for War

As the train wreck diminishes in its importance the media will move and so should you……..

Get Involved!  If you do not appreciate the continuous war that we have found ourselves fighting….LET SOMEONE KNOW!

This madness must end!   Please Do your part!

Do not be one of those bitching cowards that picks his bitches from the day’s headlines…….if your privacy is truly a concern….then…….

Send a message for all to see and hear!


Take Action: Oppose $96 Billion Slush Fund for War.

How Elizabeth Warren Made Expanding Social Security Cool | Mother Jones

Sen. Warren is quickly impressing us progressives……she has turned her position into something we have not had for a very long time…….a voice for the voiceless….in other words us citizens that the rest of the political machine takes for granted……YOU!

I read this article and it just made my love for this person greater……especially since I am one of those that depends on Social Security to eat…….

She is truly a states person over being politician……

Read and see what she is doing…..then let me know what you think…….


How Elizabeth Warren Made Expanding Social Security Cool | Mother Jones.

Do We Need the DHS? | Cato Institute

During the recent cock-up about funding of DHS….many questions were asked and few actually answered……but the one BIG question that needs an answwer urgently is……do we really need DHS?

This is a white paper from the CATO Institute……with whom I seldom agree…..but they asked and answered that one burning question…

Check it out and let me know what you think about the question…….


Do We Need the DHS? | Cato Institute.