The only reason our (your, my -- Ontarian, Canadian, North American, Western, Northern, First-world) standard of living is so high is because our productivity has outpaced other jurisdictions for so long. But we're losing ground -- you just can't feel it yet. My generation and the next will take a beating to pay for your generation's modest tax breaks.
Since October of 2002 I have paid some $702.35 in interest and fees to the Royal Bank of Canada for my (relatively) low-interest line of credit. As it stands, it is costing me more than $60/mo to service my existing debt. How do I pay that amount? From my line of credit, of course, for I don't even earn enough at my part-time job to pay the rent, let alone food, tuition, textbooks, utilities and bank fees.
If my province's public student loan system wasn't so convoluted, none of that would have been siphoned away... yet. Don't get me wrong -- I don't expect a free ride; I recognize that benefits are accruing to me as a result of my education and that, as a result, I will enjoy higher earning power once I enter the workforce. But why can't I pay off my loans
then, instead of now? The more I have to pay now, the more I have to work now, the less I am able to learn now... and so, it is beginning to seem, the less I will be able to earn later. But all the debt will still be there later, too.
Faced with what feels like a massive debt (I'm reminded of it every time I bank... OSAP students I know are less dogged by the harsh reality of their own looming debts, which they must only deal with once or twice each year), it's hard to stop oneself from spending on frivolous things. It feels hopeless... so why not buy a DVD to cheer yourself up? What's another $20?
Credit cards (don't even get me started on credit card interest -- I'd have included it above, but it's less easy for me to determine how much I've paid to those usurers) prevent me from feeling as poor as I really am, and so sometimes spend as though I'm not. And so it goes.
I'd add some fancy links and some graphics to spice things up but I'm too depressed right now. Maybe later... what's a good graphic for being so utterly disgusted with your financial predilictions? Wait, don't tell me -- I'd rather not know.