I'm sorry, I need to get something clear. The Brewers still owed $75,000 in student loans at the age of 39, yet owned a Mercedes each and a three-bedroom house (this is a childless couple) on a golf course with a swimming pool in the backyard? Is this thinking part of the "culture of entitlement" that Americans are always being accused of practicing, as in "I don't care how much debt I owe, I'm American and I deserve my own swimming pool, and nobody can take that right away from me"?
These people may be victims of a troubled economy, but they are first and foremost very, very bad at managing their money.
-- Katherine Read
I'm sure you get this all the time, but I have to put in my two cents' worth:
NEVER EVER FORGET WHAT HAS HAPPENED!
NEVER EVER FORGET! EVER!
No matter how big the boom, no matter how valuable you are right now, as far as the economy is concerned, you are disposable. Unemployment benefits and unions and a social safety net are not something optional that only the hoi polloi need. Everybody needs it sooner or later.
-- Tim Moerman
American corporations that fire American citizens and rehire foreigners are doing to our economy what al-Qaida attempted to do by destroying the WTC. The CEOs of these corporations (large and small) should be treated the same as any enemy of the USA in wartime, thrown in jail, tried as traitors. Their companies should then be considered "foreign" and lose any tax benefits. Money gained from taxing these companies should go to fund healthcare and unemployment benefits along with small business grants to those who lost their jobs. Tax breaks should only be given to American companies who hire Americans as a majority of their workforce. Enough is enough. Either we're the most powerful country in the world, or we are not.
-- Peggy Allen
Generally speaking, you will rarely find a more sympathetic ear than mine when it comes to the difficulty of finding good jobs right now. I just spent over a year and a half looking for full-time work after getting laid off in 2002. Last year, I ended up moving into my girlfriend's mother's basement to keep from sinking deeper into debt. However, even at the height of my dot-com fortunes, I was only netting about 40-45K. In my city, that didn't leave much wiggle room. But $200,000? That really should be enough to provide plenty of buffer room, assuming they spread their investments carefully and maybe save some here and there. Yes, expenses rise to match income, but an unmarried childless man making $89,000 has no business being so unprepared for a change in fortune.
While it's an easy fact to ignore when times are good, chances are they won't stay that way. People have to be more careful about leveraging themselves to the hilt. Our rampant materialism offers dangerous temptations, but it's up to individuals not to put themselves in a position where they need a six-figure income just to pay the bills. I have to think that, given the money these people were making, they have to take at least some responsibility for their current plight. I'll save my sympathy for the folks at the bottom of the tax bracket who actually need all their income but haven't gotten any help at all from our current administration.
-- Matthew Cooke
Every time I read one of these job-loss articles I feel the wolves nipping at my heels -- I could be next. I teach at a proprietary tech school; they can't find any students, which means my job as adjunct faculty is coming to an end, soon; death by a thousand cuts. Having read several books by Robert Reich, Joseph Stiglitz and others, and a rather bleak outlook of the state of the union in the Atlantic magazine, I have come to understand the complete and utter failure of both Republicans and Democrats to ameliorate this growing problem.
While Mr. Reich advocates changes in job functions and recognizes the dislocations these changes cause, he also makes several outstanding suggestions: 1) a national employment savings account, 2) health insurance for everyone, 3) investment in education. Reich has made several other suggestions; however, these are the ones with the most resonance with me. I merely wish our current crop of presidential candidates would begin a meaningful debate over these issues.
-- Petra Lynn Hofmann
Do you expect me to feel sorry for the couple of 39-year-old laid-off programmers who, despite making six-figure salaries a year, couldn't pay off their student loans? Oh, but they could afford a three-bedroom house with a swimming pool on a golf course and two Mercedes. They were financially irresponsible, but they blame it all on H1-B workers. That is some pathetic whining.
I am not disputing the fact that there isn't any job growth in the software industry, but is using them as one of your examples helpful in any way?
-- Suelika Chial
If I read one more... freaking story about former high-paid tech workers now slinging hash at the local burger joint, I'm going to hurl.
-- Rashunda Tramble