This news may be a little stale, but the message is still eye-opening to say the least. If public actually looked at what’s being swept under the rug as meaningless information about USA, Inc., I suspect they’d be horrified by what they saw. This obscure headline is just another reason why Jim’s statement of QE to infinity is totally correct.
Headline: Record number of Phd recipients on food stamps
Right now we have a record number of Phd recipients on food stamps and other forms of welfare. From 2007 to 2010, the number of PhD recipients receiving entitlements has tripled to 33,655 and the number of master’s degree holders on food stamps and other forms of welfare nearly tripled during that same time period to 293,029, according to an Urban Institute study cited by the Chronicle of Higher Education. This is shocking and I imagine its not what comes to mind when most people think of welfare recipients. This study proves that having multiple degrees doesn’t guarantee financial success, especially when you consider the high cost of college and a move by Republicans Tuesday to block a Democratic bill to preserve low interest rates for millions of college students’ loans. The Democratic bill would keep interest rates for subsidized Stafford loans at 3.4% for an additional year, rater than doubling automatically for new loans starting July 1.