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Obama Calls for additional $1 TRILLION student loan bailout for his bankster buddies
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[quote:davvi:MV8yMDY4MDcxXzM0ODAyNTQ4XzkyNjE5NTI=] [quote:Anonymous Coward 28858864:MV8yMDY4MDcxXzM0ODAyNDAyXzhDNUQ1RjdG] [quote:Anonymous Coward 3978737:MV8yMDY4MDcxXzM0ODAxOTgxX0M3RTBCODcw] [quote:davvi:MV8yMDY4MDcxXzM0ODAxOTE0XzY2NDhGN0I2] [quote:Anonymous Coward 28682970:MV8yMDY4MDcxXzM0ODAxODY0XzI4Q0IwQjQ2] [quote:Anonymous Coward 28858864:MV8yMDY4MDcxXzM0ODAxMzM3X0MwRTA0MTU4] The "good" thing about socialism is that it ALWAYS fails. Our socialist government and centrally planned economy is about to collapse completely. Then we can rebuild into an anarcho-capitalism system which will bring prosperity, wealth, fairness, and freedom to middle class and working poor. The moochers will obviously be upset because they will actually have to be productive and work for a living. [/quote] lol, you would build another capitalism? LOL i'll pass [/quote] yes, re-newed capitalism. capitalism has done more to lift more people out of poverty than any other system known to man. that our capitalist system was infected with socialism is the reason it no longer is working and we are dying as a capitalist nation. if you put our history on a chart one can easily see the introduction of socialism and our steady decline into poverty and third-worldism. [/quote] Our system was infected with vulture capitalism and crony capitalism not socialism - when the government passes laws that enrich the top (90% of all wealth now in the hand of the top 10%) that's not socialism. Stop throwing around terms which you don't understand. [/quote] Socialism is an economic system characterized by social ownership of the means of production and co-operative management of the economy, and a political philosophy advocating such a system. Or an easier way of understanding socialism is simply the government planning of the economy. This has been done through bailing out failed companies, manipulating interest rates, price controls, wage controls (minimum wage laws) work hours controls, tax breaks to politically connected corporations, subsidizing farmers, GM, Solyndra, etc., subsidizing health care, forced participation in medicare and social security...the list goes on and on. SO YES WE HAVE RAMPANT SOCIALISM IN THIS COUNTRY! [/quote] lolol, i wish i would have said that ^^^ great post. [/quote]
Original Message
A possible $1 trillion bailout is coming—and soon.
America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent.
...
Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for young people—it’s prolonging the payoff. In fact, student loan bailouts are a catch-22 for young people because they’re going to be held accountable for paying off the national debt and interest payments.
A student loan bailout will also be rewarding higher education bureaucrats for a diminished product. A college degree used to mean that a person would add on average $1 million to their income over their lifetime. Today a college degree only guarantees an average $300,000 in added income over a lifetime.
[
link to www.breitbart.com
]
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