Just as Tom Ridge did in his own resignation a few weeks ago, NASA administrator Sean O’Keefe steps down by citing his need to make more money to put his kids through college. “‘It is this [the president’s] very commitment to family that draws me to conclude that I must depart public service,’ O’Keefe wrote. ‘The first of three children will begin college next fall…I owe them the same opportunity my parents provided for me to pursue higher education without the crushing burden of debt thereafter.’” Am I missing something? I know tuition costs have skyrocketed, but is $158,000-a-year really too little money to send a child to college these days? C’mon, now.
Category: Indebtedness
The Teddy Bears’ Picnic.
By way of Follow Me Here, the chief economist at Morgan Stanley warns private audiences that, in his opinion, the US is headed for economic “Armageddon.” “In a nutshell, Roach’s argument is that America’s record trade deficit means the dollar will keep falling. To keep foreigners buying T-bills and prevent a resulting rise in inflation, Federal Reserve Chairman Alan Greenspan will be forced to raise interest rates further and faster than he wants. The result: U.S. consumers, who are in debt up to their eyeballs, will get pounded.”
Kerry v. Bush?
The NYT‘s Linda Greenhouse and Slate‘s Thomas Baker preview the coming Supreme Court term, which we already know won’t involve appeals by Roy Moore, credit card companies, or telemarketers. Update: Dahlia Lithwick talks Blakely.
Loan Relief.
The economy may be going sour and there’s fewer jobs to be had, but there is some good news on the horizon for Generation Y. College loan interest rates will hit record lows at the end of the month.