This guy is such a joke. Here’s his latest plan to redistribute middle class wealth making everyone poorer under the guise of “FOR THE CHILDREN!” and “Republicans hate education!”
“President Barack Obama has signed an executive order that will allow millions of previously ineligible student debtors to qualify for the “Pay as You Earn” repayment program, which caps payments on student debt at 10 percent of monthly income and forgives outstanding balances after 20 years of repayments.” What will this do?
(1) Make it HARDER for students who CAN’T AFFORD COLLEGE to go attend thus DECREASING the opportunity because…
(2) banks will not LEND money to students with no income to start and knowing that after 20 years the bank must absorb the loan/forgive it (there is no incentive), and, to boot,
(3) there are NO JOBS when they graduate, so they can’t work to pay them back anyway (see #1 and #2).
This means the loans currently outstanding will cost the banks BIG TIME and they will crash. Remember the housing market crash that was blamed on Bush (but really a result of the Dodd-Frank Bill he tried stop from passing)? We all know how the economy “recovered” from that. The result? Only those from wealthy families will be able to afford higher education in its current state. I thought that was from what we were trying to run? Proof that liberal policies are “regressive”, not “progressive”.
Of course, the caveat is to “tax the rich” who are not “evil corporations” and the “1%”. They are ME AND MY HUSBAND, not Barack Obama, not his cronies (certainly the evil 1%ers who are going to benefit from his unconstitutional implementation of Common Core), not Hollywood…you know, all those people exempt because they can afford private schools, their own healthcare/are exempt from Obamacare, not on VA wait lists, etc. . Always the endgame. Redistribute everyone else’s wealth to keep cronies (unions) happy while making the rest of us poorer and more government dependent for more CONTROL. Who really thinks he’s going to address WHY a degree in higher education costs so much, which is the REAL problem. ? He absolutely will not. Democrats make BIG BANK off of those in education (while student success rates continue to decline until, of course, the standards are lowered), especially the unions. Unless every state becomes Right to Work like Wisconsin and the union power dissipates, the reasons behind WHY education costs so much will NEVER be addressed by a democrats. They will just tax, spend, and “fair share” FOR THE CHILDREN! to keep their “friends” happy and give the public a false sense of security for their votes.
Look…if YOU choose to go to school and YOU take out a student loan, YOU are responsible for paying them back, NOT ME. If you couldn’t afford the school, you shouldn’t have gone in the first place. In fact, that would help the real issue here regarding why higher education is so expensive. The best way to address the “why education costs so much” question is supply and demand. Worthless degrees + excessively high tuition= extreme drop of in enrollment The cost would drop damn fast to encourage enrollment at “affordable” prices.
My guess is my co-workers and administration will be all over this come August, but in the same breath they will lament why student’s don’t follow the rules, have no concept of deadlines, and have no sense of responsibility. Why would they? Obamacare delayed 28 times, immigration laws flat-out not enforced because Obama doesn’t like them, trying to get 1st and 2nd amendments overturned. using the IRS to suppress the opposition….if these are our “leaders” and higher ed, in mass droves, supports this progressive way of thinking, why would they expect students to have any sense of personal responsibility? But they do…when it’s THEIR rules that require following. Unreal.