Monthly Archives: May 2014

The Crushing Weight of Student Debt

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from this Time article

Households headed by a young college graduate with student loans outstanding have a typical net worth of just $8,700—a pittance compared to the typical $64,700 net worth of similar households only with no student loans outstanding. But that’s just the start. Those with student loans have total debts of $137,010—nearly double the typical $73,250 indebtedness of those without student debt outstanding.

The title is only rich kids should go to college, I might have to agree as I can see for myself and others will be paying back student loans for at least 10 years, while trying to build a life with the education we’ve acquired.

Should the price of education be as much as your monthly rent? How much are we prepared to sacrifice in order to get the parchment that gets us to higher levels of income (hopefully)?

Seattle’s Mayor Proposes $15 per hour for Minimum Wage

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Yesterday, Seattle’s mayor Ed Murray announced a plan to raise the minimum wage to $15 per hour. If implemented, the minimum wage would continue to increase over the next 3-7 years until it reaches $15 per hour for workers. This plan comes as part of a nationwide push from the Obama Administration to combat inequality.

At a recent press conference Murray stated that Seattle can potentially “lead the conversation and the nation to address this growing problem of income inequality”.

Seattle is the first major US city to make this kind of commitment but the hope is that others will follow. The plan must still be approved by Seattle’s City Council.  If the plan is approved, it will give small businesses with fewer than 500 workers seven years to implement the plan. Large businesses would have three years.