The sheeple cannot manage money.

Recently there has been talk in the news about Biden forgiving student loans. Keep in mind that he will only be able to forgive government student loans, all those others with private student loans still have to pay them back. Responsible people who paid off their loans will also get punished. Also, Congress doesn’t have that money to pay back those loans, it has to get a loan and the taxpayers will pay it back with interest.

Remember when Biden promised to forgive student loans when he was running for president and he never did it?

But forgiving their gov’t student loans will not help them at all. No matter how much money you give the sheeple, they still cannot manage it properly. Because personal responsibility still isn’t enforced widely enough.

I propose, based on factual evidence, that the problem with sheeple is not how much they earn but how much they spend. These same people with student loans have high-end designer handbags (Louis Vitton for one person I know), regularly spend thousands of dollars in travel every year (based on other people I know), much more on tattoos, booze and luxuries, but still cannot pay their student loans. That is because their priorities are broken and they make poor choices.

This is not just a problem with people under age 40, it’s a problem with all generations, including mine (Gen X), it’s just more common in people under 40. It’s a defining aspect of Gen Y and Gen Z. Here are just a few examples.

1. Survey finds more than half of Americans can’t afford a $1,000 emergency https://thehill.com/changing-america/respect/poverty/590453-survey-finds-over-half-of-americans-cant-afford-a-1000/

2. 63% Of Americans Don't Have Enough Savings To Cover A $500 Emergency. https://www.forbes.com/sites/maggiemcgrath/2016/01/06/63-of-americans-dont-have-enough-savings-to-cover-a-500-emergency/?sh=200c5a1c4e0d

3. Survey: 20% of homeowners don’t have funds for emergency maintenance. https://realtybiznews.com/survey-20-of-homeowners-dont-have-funds-for-emergency-maintenance/98753868/

4. 40% of Americans don’t have $400 in the bank for emergency expenses: Federal Reserve. https://abcnews.go.com/US/10-americans-struggle-cover-400-emergency-expense-federal/story?id=63253846/

5. 2021: Nearly 40% of people who had emergency savings prior to March 2020 dipped into those funds during the pandemic, according to a survey conducted by YouGov for Forbes Advisor. Of the people who used their emergency funds during the pandemic, 73.3% of respondents spent half or more of their savings. https://www.forbes.com/advisor/banking/savings/emergency-fund-survey/

6. Americans’ emergency savings are being drained as COVID-19 continues to take a toll, according to a new Bankrate survey. The study shows that the number of Americans with less emergency savings has ballooned since the crisis began, while few Americans have more savings. About three times as many Americans report having less emergency savings now than before, compared to those reporting more savings. About 35 percent of people said their emergency savings were lower now, compared to 13 percent saying they had more. Only 16 percent of Americans say they are very comfortable with their emergency savings. https://www.bankrate.com/banking/savings/emergency-savings-survey-2020/

7. And on Aug 25, 2022, more poor choices are illustrated: BIDEN ECONOMY: 20 Million Americans Behind on Electric Bills – Facing Electricity Being Shut Off. https://www.thegatewaypundit.com/2022/08/biden-economy-20-million-americans-behind-electric-bills-facing-electricity-shut-off/

All of these surveys represent the poor choices of people, for 99% of cases. In a few cases there was an accident and additional medical bills that used up any tiny savings they might have had. Thus, not matter how much cash you give them, they will still never be able to manage it properly like a normal functional adult. Naturally, entitled people will hate this article, you can see that in the comments. They will only have snarky insulting comments when cornered.

Have you ever noticed all the people begging for money and how many tattoos they have? A good artist costs $120 per hour now. A full sleeve tattoo takes 10 hours, or costs about $1200. Now you know why they don’t have money for food.

Does anyone ever notice the personal choices of these people are just horrible? Will anyone ever enforce personal responsibility at the society level?

When you have cash, you have options. Even if you lose your job. But many people quit during 2021-2022 to get the bonus unemployment of $600 per week from Biden’s CARE act. We know Congress doesn’t have the money, and they will have to pay back this money via loans, with interest. And the inevitable has come true. Biden’s new act passed in 2022 raises taxes, while we’re in the beginning of an unofficial recession.

Even Obama says you don’t raise taxes during a recession. From 2011:

What to do? Enforce personal responsibility at the social level? That may never happen with the do-nothing Congress. We need gov’t policies that enforce, and reward, personal responsibility.

But why?

In one study in the US, a state gave a bunch of people free financial classes. The state then called the people back in 6 months. Only 10% of the people were using the skills they learned in the FREE class. So I don’t think this is an issue of training.

While growing up around very poor people in the 1970s and 1980s I noticed a few things. They often had rather expensive luxuries they could not afford like: video game systems, jewelry, cable TV (which was expensive in the 1970s and 1980s), motorcycles in addition to their car (I lived in a wintry state), 3 wheelers for fun, snowmobiles. I think this is a lack of willpower to manage their money, and make better priorities. If they could just go on welfare, why would they care about their future? If someone else pays for it, why should they care at all?

A Democracy only lasts until the people figure out they can vote themselves “free” money.