I can understand and empathize with some of the Occupy Wall Street protestors, in that, they are unemployed and want a job. Especially those with families or just graduated with student loan payments. However, there is a fringe element that is completely out of touch with reality. For example, I recently saw a picture this week in the Wall Street Journal of a protestor holding a sign that read, “I was promised the American Dream.” Along this line, there is a growing belief that home mortgages should be rewritten downward for borrowers who are underwater (i.e., they owe more than their home is worth) and/or can’t make their payments. And now a new demand is being promoted that college tuition should be free for some and that student loans be forgiven, especially in lieu of the fact that student loan debt has doubled over the last five years. Personally, I was shocked to find out that Americans now owe more on student loans than they do on credit cards.
Well, let’s take a quick history lesson. Do you recognize the following quote? “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights that among these are Life, Liberty and the pursuit of Happiness”
It is from the U.S. Bill of Rights.
