Download or read book Generation Debt and the American Dream written by Justin R. La Mort and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: President Obama was able to pay off his student loans only after authoring two bestselling books and becoming a prominent figure on the national political scene. This is not a strategy that can be easily replicated by the rest of us. As our tax dollars are being spent to bailout AIG and GM we have ignored helping those who are drowning in student debt. We can either rearrange the deck chairs as the band plays on or we can seize this unique opportunity in time to provide a life preserver to some of our country's best and brightest. The American dream is predicated that through education and hard work one can accomplish anything. Sadly, my generation will be less educated and in greater debt than the generation of my parents. Never before has having a college degree meant so much in competing in the global marketplace yet never before has the financial barriers been so great to earning that degree. This paradox must be resolved if our students and our country are to reach their full potential. The present system restricts innovation among the entrepreneurs, inventors, and artists who can no longer risk taking a chance when facing five to six figures of debt. Our society loses the talent of those unable to afford a career in public service. These effects are especially true for the middle and working class who we most want to break from the cycle of poverty but whose best route is by entering modern day indentured servitude. We must change the way we pay for higher education if the United States is to uphold its promise. This article will detail the pervasive effects of the student loan problem in America and will examine pragmatic solutions such as ending the Federal Family Education Loans (FFEL) program, removing unwarranted bankruptcy protection of student loans, and enacting loan forgiveness programs to reverse the receding economic tides. The effects of these policies would stimulate the economy, create an environment conducive to innovation, and move our society closer to its meritocratic ideals.
Download or read book Generation Debt written by Anya Kamenetz and published by National Geographic Books. This book was released on 2006-12-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generation Debt offers a truly gripping account of how young Americans are being ground down by low wages, high taxes, huge student loans, sky-high housing prices, not to mention the impending retirement of their baby boomer parents. Twenty-four-year-old Anya Kamenetz examines this issue from every angle and provides a riveting, rousing manifesto that will inspire everyone to take care of their financial future.
Download or read book It Was All a Dream written by Reniqua Allen and published by Bold Type Books. This book was released on 2019-01-08 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Young Black Americans have been trying to realize the promise of the American Dream for centuries and coping with the reality of its limitations for just as long. Now, a new generation is pursuing success, happiness, and freedom -- on their own terms. In It Was All a Dream, Reniqua Allen tells the stories of Black millennials searching for a better future in spite of racist policies that have closed off traditional versions of success. Many watched their parents and grandparents play by the rules, only to sink deeper and deeper into debt. They witnessed their elders fight to escape cycles of oppression for more promising prospects, largely to no avail. Today, in this post-Obama era, they face a critical turning point. Interweaving her own experience with those of young Black Americans in cities and towns from New York to Los Angeles and Bluefield, West Virginia to Chicago, Allen shares surprising stories of hope and ingenuity. Instead of accepting downward mobility, Black millennials are flipping the script and rejecting White America's standards. Whether it means moving away from cities and heading South, hustling in the entertainment industry, challenging ideas about gender and sexuality, or building activist networks, they are determined to forge their own path. Compassionate and deeply reported, It Was All a Dream is a celebration of a generation's doggedness against all odds, as they fight for a country in which their dreams can become a reality.
Download or read book Inflated written by R. Christopher Whalen and published by John Wiley & Sons. This book was released on 2010-11-04 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Americans as a whole view themselves as reasonably prudent and sober people when it comes to matters of money, reflecting the puritan roots of the earliest European settlers. Yet as a community, we also seem to believe that we are entitled to a lifestyle that is well-beyond our current income, a tendency that goes back to the earliest days of the United States and particularly to get rich quick experiences ranging from the Gold Rush of the 1840s to the real estate bubble of the early 21st Century. Inflated examines this apparent conflict and makes the argument that such a world view is so ingrained in us that to expect the United States to live in a "deflated" world is simply unrealistic. It skillfully seeks to tell the story of, money inflation and public debt as enduring (and perhaps endearing) features of American life, rather than something we can one day overcome as our policy makers constantly promise. Features interviews with today's top financial industry leaders and insiders. Offer a glimpse into the future of the Federal Reserve and the role it will play in the coming years Examines what the future may hold for the value of the U.S. dollar and the real incomes of future generations of Americans The gradual result of the situation we find ourselves in will inevitably lead to inflation, loss of economic opportunity, and a decline in the value of the dollar. This book will show you why, and reveal how we might be able to deal with it.
Download or read book Generation Chef written by Karen Stabiner and published by Penguin. This book was released on 2016-09-13 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inside what life is really like for the new generation of professional cooks—a captivating tale of the make-or-break first year at a young chef’s new restaurant. For many young people, being a chef is as compelling a dream as being a rock star or professional athlete. Skill and creativity in the kitchen are more profitable than ever before, as cooks scramble to reach the top—but talent isn’t enough. Today’s chef needs the business savvy of a high-risk entrepreneur, determination, and big dose of luck. The heart of Generation Chef is the story of Jonah Miller, who at age twenty-four attempts to fulfill a lifelong dream by opening the Basque restaurant Huertas in New York City, still the high-stakes center of the restaurant business for an ambitious young chef. Miller, a rising star who has been named to the 30-Under-30 list of both Forbes and Zagat, quits his job as a sous chef, creates a business plan, lines up investors, leases a space, hires a staff, and gets ready to put his reputation and his future on the line. Journalist and food writer Karen Stabiner takes us inside Huertas’s roller-coaster first year, but also provides insight into the challenging world a young chef faces today—the intense financial pressures, the overcrowded field of aspiring cooks, and the impact of reviews and social media, which can dictate who survives. A fast-paced narrative filled with suspense, Generation Chef is a fascinating behind-the-scenes look at drive and passion in one of today’s hottest professions.
Download or read book Paying the Price written by Sara Goldrick-Rab and published by University of Chicago Press. This book was released on 2016-09-01 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: A “bracing and well-argued” study of America’s college debt crisis—“necessary reading for anyone concerned about the fate of American higher education” (Kirkus). College is far too expensive for many people today, and the confusing mix of federal, state, institutional, and private financial aid leaves countless students without the resources they need to pay for it. In Paying the Price, education scholar Sara Goldrick-Rab reveals the devastating effect of these shortfalls. Goldrick-Rab examines a study of 3,000 students who used the support of federal aid and Pell Grants to enroll in public colleges and universities in Wisconsin in 2008. Half the students in the study left college without a degree, while less than 20 percent finished within five years. The cause of their problems, time and again, was lack of money. Unable to afford tuition, books, and living expenses, they worked too many hours at outside jobs, dropped classes, took time off to save money, and even went without adequate food or housing. In many heartbreaking cases, they simply left school—not with a degree, but with crippling debt. Goldrick-Rab combines that data with devastating stories of six individual students, whose struggles make clear the human and financial costs of our convoluted financial aid policies. In the final section of the book, Goldrick-Rab offers a range of possible solutions, from technical improvements to the financial aid application process, to a bold, public sector–focused “first degree free” program. "Honestly one of the most exciting books I've read, because [Goldrick-Rab has] solutions. It's a manual that I'd recommend to anyone out there, if you're a parent, if you're a teacher, if you're a student."—Trevor Noah, The Daily Show
Download or read book Who Stole the American Dream written by Hedrick Smith and published by Random House Trade Paperbacks. This book was released on 2013-08-27 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pulitzer Prize winner Hedrick Smith’s new book is an extraordinary achievement, an eye-opening account of how, over the past four decades, the American Dream has been dismantled and we became two Americas. In his bestselling The Russians, Smith took millions of readers inside the Soviet Union. In The Power Game, he took us inside Washington’s corridors of power. Now Smith takes us across America to show how seismic changes, sparked by a sequence of landmark political and economic decisions, have transformed America. As only a veteran reporter can, Smith fits the puzzle together, starting with Lewis Powell’s provocative memo that triggered a political rebellion that dramatically altered the landscape of power from then until today. This is a book full of surprises and revelations—the accidental beginnings of the 401(k) plan, with disastrous economic consequences for many; the major policy changes that began under Jimmy Carter; how the New Economy disrupted America’s engine of shared prosperity, the “virtuous circle” of growth, and how America lost the title of “Land of Opportunity.” Smith documents the transfer of $6 trillion in middle-class wealth from homeowners to banks even before the housing boom went bust, and how the U.S. policy tilt favoring the rich is stunting America’s economic growth. This book is essential reading for all of us who want to understand America today, or why average Americans are struggling to keep afloat. Smith reveals how pivotal laws and policies were altered while the public wasn’t looking, how Congress often ignores public opinion, why moderate politicians got shoved to the sidelines, and how Wall Street often wins politically by hiring over 1,400 former government officials as lobbyists. Smith talks to a wide range of people, telling the stories of Americans high and low. From political leaders such as Bill Clinton, Newt Gingrich, and Martin Luther King, Jr., to CEOs such as Al Dunlap, Bob Galvin, and Andy Grove, to heartland Middle Americans such as airline mechanic Pat O’Neill, software systems manager Kristine Serrano, small businessman John Terboss, and subcontractor Eliseo Guardado, Smith puts a human face on how middle-class America and the American Dream have been undermined. This magnificent work of history and reportage is filled with the penetrating insights, provocative discoveries, and the great empathy of a master journalist. Finally, Smith offers ideas for restoring America’s great promise and reclaiming the American Dream. Praise for Who Stole the American Dream? “[A] sweeping, authoritative examination of the last four decades of the American economic experience.”—The Huffington Post “Some fine work has been done in explaining the mess we’re in. . . . But no book goes to the headwaters with the precision, detail and accessibility of Smith.”—The Seattle Times “Sweeping in scope . . . [Smith] posits some steps that could alleviate the problems of the United States.”—USA Today “Brilliant . . . [a] remarkably comprehensive and coherent analysis of and prescriptions for America’s contemporary economic malaise.”—Kirkus Reviews (starred review) “Smith enlivens his narrative with portraits of the people caught up in events, humanizing complex subjects often rendered sterile in economic analysis. . . . The human face of the story is inseparable from the history.”—Reuters
Download or read book After the Ivory Tower Falls written by Will Bunch and published by HarperCollins. This book was released on 2022-08-02 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Pulitzer Prize–winning journalist Will Bunch, the epic untold story of college—the great political and cultural fault line of American life Winner of the Athenaeum of Philadelphia Literary Award | Longlisted for the PEN/John Kenneth Galbraith Award for Nonfiction | "This book is simply terrific." —Heather Cox Richardson | "Ambitious and engrossing." —New York Times Book Review | "A must-read." —Nancy MacLean, author of Democracy in Chains Today there are two Americas, separate and unequal, one educated and one not. And these two tribes—the resentful “non-college” crowd and their diploma-bearing yet increasingly disillusioned adversaries—seem on the brink of a civil war. The strongest determinant of whether a voter was likely to support Donald Trump in 2016 was whether or not they attended college, and the degree of loathing they reported feeling toward the so-called “knowledge economy" of clustered, educated elites. Somewhere in the winding last half-century of the United States, the quest for a college diploma devolved from being proof of America’s commitment to learning, science, and social mobility into a kind of Hunger Games contest to the death. That quest has infuriated both the millions who got shut out and millions who got into deep debt to stay afloat. In After the Ivory Tower Falls, award-winning journalist Will Bunch embarks on a deeply reported journey to the heart of the American Dream. That journey begins in Gambier, Ohio, home to affluent, liberal Kenyon College, a tiny speck of Democratic blue amidst the vast red swath of white, post-industrial, rural midwestern America. To understand “the college question,” there is no better entry point than Gambier, where a world-class institution caters to elite students amidst a sea of economic despair. From there, Bunch traces the history of college in the U.S., from the landmark GI Bill through the culture wars of the 60’s and 70’s, which found their start on college campuses. We see how resentment of college-educated elites morphed into a rejection of knowledge itself—and how the explosion in student loan debt fueled major social movements like Occupy Wall Street. Bunch then takes a question we need to ask all over again—what, and who, is college even for?—and pushes it into the 21st century by proposing a new model that works for all Americans. The sum total is a stunning work of journalism, one that lays bare the root of our political, cultural, and economic division—and charts a path forward for America.
Download or read book House of Debt written by Atif Mian and published by University of Chicago Press. This book was released on 2015-05-20 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A concise and powerful account of how the great recession happened and what should be done to avoid another one . . . well-argued and consistently informative.” —Wall Street Journal The Great American Recession of 2007-2009 resulted in the loss of eight million jobs and the loss of four million homes to foreclosures. Is it a coincidence that the United States witnessed a dramatic rise in household debt in the years before the recession—that the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? Definitely not. Armed with clear and powerful evidence, Atif Mian and Amir Sufi reveal in House of Debt how the Great Recession and Great Depression, as well as less dramatic periods of economic malaise, were caused by a large run-up in household debt followed by a significantly large drop in household spending. Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi. We can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place. Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing today’s economy: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?
Download or read book Nightmare Nation written by Jessie C. Conners and published by Protege Press. This book was released on 2007-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here's the problem: Americans aren't saving money anymore. The national savings rate is the lowest it's been since the Depression and we continue to spend more than we earn. What that could mean for many of us is a terrifying future of abject poverty.
Download or read book Degrees of Inequality written by Suzanne Mettler and published by Basic Books (AZ). This book was released on 2014-03-11 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: America’s higher education system is failing its students. In the space of a generation, we have gone from being the best-educated society in the world to one surpassed by eleven other nations in college graduation rates. Higher education is evolving into a caste system with separate and unequal tiers that take in students from different socio-economic backgrounds and leave them more unequal than when they first enrolled. Until the 1970s, the United States had a proud history of promoting higher education for its citizens. The Morrill Act, the G.I. Bill and Pell Grants enabled Americans from across the income spectrum to attend college and the nation led the world in the percentage of young adults with baccalaureate degrees. Yet since 1980, progress has stalled. Young adults from low to middle income families are not much more likely to graduate from college than four decades ago. When less advantaged students do attend, they are largely sequestered into inferior and often profit-driven institutions, from which many emerge without degrees—and shouldering crushing levels of debt. In Degrees of Inequality, acclaimed political scientist Suzanne Mettler explains why the system has gone so horribly wrong and why the American Dream is increasingly out of reach for so many. In her eye-opening account, she illuminates how political partisanship has overshadowed America’s commitment to equal access to higher education. As politicians capitulate to corporate interests, owners of for-profit colleges benefit, but for far too many students, higher education leaves them with little besides crippling student loan debt. Meanwhile, the nation’s public universities have shifted the burden of rising costs onto students. In an era when a college degree is more linked than ever before to individual—and societal—well-being, these pressures conspire to make it increasingly difficult for students to stay in school long enough to graduate. By abandoning their commitment to students, politicians are imperiling our highest ideals as a nation. Degrees of Inequality offers an impassioned call to reform a higher education system that has come to exacerbate, rather than mitigate, socioeconomic inequality in America.
Download or read book Over Here written by Edward Humes and published by Houghton Mifflin Harcourt. This book was released on 2006 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here are the stories of some of the men and women returning from World War II, and how their lives changed because of the G.I. Bill of Rights, and how this country changed because of them. The effects were immediate and enduring--the suburbs, the middle class, America's ever-increasing number of college graduates, the lunar landing--all are tied to the G.I. Bill.
Download or read book Our Kids written by Robert D. Putnam and published by Simon and Schuster. This book was released on 2016-03-29 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The bestselling author of Bowling Alone offers [an] ... examination of the American Dream in crisis--how and why opportunities for upward mobility are diminishing, jeopardizing the prospects of an ever larger segment of Americans"--
Download or read book On the Frontier of Adulthood written by Richard A. Settersten Jr. and published by University of Chicago Press. This book was released on 2008-09-15 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the Frontier of Adulthood reveals a startling new fact: adulthood no longer begins when adolescence ends. A lengthy period before adulthood, often spanning the twenties and even extending into the thirties, is now devoted to further education, job exploration, experimentation in romantic relationships, and personal development. Pathways into and through adulthood have become much less linear and predictable, and these changes carry tremendous social and cultural significance, especially as institutions and policies aimed at supporting young adults have not kept pace with these changes. This volume considers the nature and consequences of changes in early adulthood by drawing upon a wide variety of historical and contemporary data from the United States, Canada, and Western Europe. Especially dramatic shifts have occurred in the conventional markers of adulthood—leaving home, finishing school, getting a job, getting married, and having children—and in how these experiences are configured as a set. These accounts reveal how the process of becoming an adult has changed over the past century, the challenges faced by young people today, and what societies can do to smooth the transition to adulthood. "This book is the most thorough, wide-reaching, and insightful analysis of the new life stage of early adulthood."—Andrew Cherlin, Johns Hopkins University "From West to East, young people today enter adulthood in widely diverse ways that affect their life chances. This book provides a rich portrait of this journey-an essential font of knowledge for all who care about the younger generation."—Glen H. Elder Jr., University of North Carolina at Chapel Hill "On the Frontier of Adulthood adds considerably to our knowledge about the transition from adolescence to adulthood. . . . It will indeed be the definitive resource for researchers for years to come. Anyone working in the area—whether in demography, sociology, economics, or developmental psychology—will wish to make use of what is gathered here."—John Modell, Brown University "This is a must-read for scholars and policymakers who are concerned with the future of today's youth and will become a touchpoint for an emerging field of inquiry focused on adult transitions."—Jeanne Brooks-Gunn, Columbia University
Download or read book Retirementology written by Gregory Salsbury and published by FT Press. This book was released on 2010-04-25 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bonus content "What's Your Retirementology I.Q.?" included in this digital edition. Looking ahead to retirement? Depending on your circumstances and your age, you may no longer have any margin for error. And your emotions and irrational behavior could be perpetuating a dangerous cycle of overspending and rising debt that may shatter whatever vision of retirement you still have. Welcome to the world of Retirementology. Retirementology bridges retirement planning with investor psychology and the market Meltdown of 2008 to produce an entirely new way of thinking about how we spend, how we save, how we borrow, and how we invest. Financial mistakes are deeply rooted in human nature, but you may be able to overcome them--if you understand the breakthrough principles of behavioral economics and apply them in your own retirement planning. Dr. Gregory Salsbury identifies some of the classic cognitive biases and behavioral mistakes most of us keep making when it comes to retirement planning. For example: Why will people drive 45 minutes to use a $2.00 coupon? Why won’t people sell a poor performing stock just because they inherited it from grandma? Why do people spend differently with a credit card than they do with cash? Why do people believe that they paid no income taxes because they received a refund? You’ll learn why the financial meltdown has amplified the impact of these all-too-human cognitive mistakes and discover ideas for addressing them. The bottom line for your bottom line is that retirement can no longer be ignored, viewed as a single event, relegated to a “zone,” or romanticized. Instead, you must understand how every spending and financial decision you make from here on can impact the way you will spend your golden years. Retirementology attempts to help you do just that. Retirement planning: right brain versus left brain Why these different areas of the brain impact financial decisions--and what to do about it It’s real money! “De-layering” your finances How to overcome the psychological tricks that separate you from your money Family matters: managing financial support decisions for your extended family Choosing between your family or your retirement Get “long-term smart” How longevity, inflation, volatility, and your own expectations impact your retirement goals
Download or read book The New Better Off written by Courtney E. Martin and published by Seal Press. This book was released on 2016-10-04 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are we living the good life—and what defines 'good', anyway? Americans today are constructing a completely different framework for success than their parents' generation, using new metrics that TEDWomen speaker and columnist Courtney Martin has termed collectively the "New Better Off". The New Better Offputs a name to the American phenomenon of rejecting the traditional dream of a 9-to-5 job, home ownership, and a nuclear family structure, illuminating the alternate ways Americans are seeking happiness and success. Including commentary on recent changes in how we view work, customs and community, marriage, rituals, money, living arrangements, and spirituality, The New Better Off uses personal stories and social analysis to explore the trends shaping our country today. Martin covers growing topics such as freelancing, collaborative consumption, communal living, and the breaking down of gender roles. The New Better Offis about the creative choices individuals are making in their vocational and personal lives, but it's also about the movements, formal and informal, that are coalescing around the "New Better Off" idea-people who are reinventing the social safety net and figuring out how to truly better their own communities.
Download or read book America s Ticking Bankruptcy Bomb written by Peter Ferrara and published by Broadside Books. This book was released on 2011-06-14 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Record-shattering government spending, taxes, deficits, and debt threaten a downward spiral in the American people's standard of living, ultimately stealing the American dream. The welfare state is melting down. State and local governments are reeling under the burden of runaway public-employee pensions, dysfunctional education bureaucracies, and belligerent public-sector unions. In the past, the state governments have turned to the federal government to bail them out. But the federal government is broke. In chilling detail, former Reagan administration adviser Peter Ferrara documents the looming collapse of the American social safety net and describes what will happen when the government goes bankrupt. He also introduces us to his vision for the way forward: a new concept that he calls "prosperity independence." Ferrara supports sweeping tax reform to maximize economic growth, and fundamental entitlement reform to replace our outdated redistribution-based welfare state with a modernized comprehensive social safety net. Utilizing modern capital, labor, and insurance markets, these reforms will accomplish far more than our current entitlement programs could ever hope to do, at a fraction of the cost. In addition to balancing our national budget and cutting back on government power, control, taxation, and spending, America will finally win the War on Poverty. Ferrara also shows how our nation can enjoy a new generation-long economic boom, once again leading the world in economic growth and abundance.
