Question - if your credit cards were maxed out, your house was worth less than what you paid, and you owed debts to friends for years, would you just try to get your credit line increased or would you try to cut back on spending?
Well, given your scenario, I'd assume that option A wouldn't be available, you probably couldn't get your credit line increased. And then there is option C. Pay down your credit cards and pay off your friends.
Trick question, he is talking about our Government. I cant talk politics, my head will explode.
Unless things have changed greatly--and I admit they might have--your student loans don't start incurring interest until you have been out of school.This 100% depends on the type of loan. There are subsidized and unsubsidized loans. The former are the kind you're thinking of, interest is not accrued while in school. Plus I believe they require you to be a full time student, but I could be wrong. The latter interest still accrues while in school. BUT, for both, you do not have to pay on the loans while in school (again, might have to be a full time student).
Ultimately though the job market is not great and what this country really needs is those damn baby boomers to either retire or die. Once they are out of the picture it will allow people to move up the ladder and that will open up more positions for the younger generation. The problem is that many of them were horrible with their finances and they are going to have to work much longer than they should have.