Posted on 03/30/2010 4:28:30 PM PDT by Freedom56v2
Alexander: Obama's 'Soviet-Style' Takeover of Student Loans [Robert Costa]
Sen. Lamar Alexander (R., Tenn.), the U.S. secretary of education from 1991 to 1993, tells National Review Online that President Obama’s revamping of the federal student-loan program is “truly brazen” and the “most underreported big-Washington takeover in history.”
“As Americans find out what it really does, they’ll be really unhappy,” Alexander predicts. “The first really unhappy people will be the 19 million students who, after July 1, will have no choice but to go to federal call centers to get their student loans. They’ll become even unhappier when they find out that the government is charging 2.8 percent to borrow the money and 6.8 percent to lend it to the students, and spending the difference on the new health-care bill and other programs. In other words, the government will be overcharging 19 million students.” The overcharge is “significant,” Alexander adds, because “on a $25,000 student loan, which is an average loan, the amount the government will overcharge will average between $1,700 and $1,800.”
“Up to now, 15 out of 19 million student loans were private loans, backed by the government,” Alexander says. “Now we’re going to borrow half-a-trillion from China to pay for billions in new loans. Not only will this add to the debt, but in the middle of
More ominous could be the reasons behind this..... education reditribution. Middleclass American students with an average family income and with all the t’s crossed and I’s dotted will begiven choices on the low end of the education spectrum and told what coarses and jobs will be available for them while inner city students and illegal immigrants with poor grades from low income families will be government subsidized with free education at the middleclass famlies expense sent to the most prestigious schools in the land, Harvard, Yale, Princeton with jobs waiting for them upon graduation in top corporations beholden to the elitist socialist government. Sounds crazy? Look what we thought was crazy a year ago.
Kind of like Hitler moving into Poland for peace.
I don’t know about you, but just how many Obama shirts do you see compared to a year ago?
The only one I’ve seen in the last couple of months was worn by a Hispanic boy (5ish). It probably came from the Goodwill that’s nearby.
Also, far fewer bumper stickers too. Only the hard core supporters still have them on around here!
How many of these smart students voted for this commie? Those that did deserve what they get. No sympathy here.
Don’t forget Argentina....
Dont forget that both of FUBO’s daughters were given Soviet Names! That oughta PO Sharpton and Farrakkon and Rev Wright!
Black and/or African names weren’t good enough for OBOZO’S Daughters, they had to be branded with Stalinisque Russian Names, probably chosen by his Mentor, William Ayers.....:-(
Let’s not forget Obama’s announcement that he is diverting a large portion (I’ve read up to 4 billion) of student loan monies to “historically black colleges” and “other” educational purposes. He said it again during last weeks radio address to the nation.
Yes, I heard that too... my daughter is going to a private Catholic college so I am sure that will be off limits for Obama Money.
FUBO!
Yet another way to get the kids to pay for grandpa’s colonoscopy.
Current loans are being sold to the companies Bambi awarded with handling all government loans. Banks are selling them off to this handful of companies. Prior to this takeover, the Fed only handled approximately 20% of all student loans - now they will have 100%, effective immediately. I wouldn’t want to be hoping for a loan this fall - no way they will be ready.
Middle class = Bourgeoisie. Vive le Proletariat!
Bloody national suicide.
I don’t think the media would be reporting that.
So it will be college students calling college grads. Everyone else on Obama's favored status, upon graduation, will go to work in call centers too. Then they can try and call up patriots who won't pay for Obamacare.
Going Galt.
I read the following and I can just see Obama in the middle of this philosophy:
“The whole history of philosophy is the history of the struggle and the development of two mutually opposed schools of philosophy — idealism and materialism. All philosophical currents and schools are manifestations of these two fundamental schools. All philosophical theories have been created by men belonging to a definite social class. The ideas of these men have moreover been historically determined by a definite social existence. All philosophical doctrines express the needs of a definite social class and reflect the level of development of the productive forces of society and the historical stage in men’s comprehension of nature . . .
The distinguishing characteristic of Marxist philosophy — i.e., dialectical materialism — is its effort to explain clearly the class nature of all social consciousness (including philosophy). It publicly declares a resolute struggle between its own proletarian nature and the idealist philosophy of the propertied class. Moreover, it subordinates its own special and independent tasks to such general tasks as overthrowing capitalism, organizing and building a proletarian dictatorship, and edifying a socialist society.”
-—”THE STRUGGLE BETWEEN TWO ARMIES IN PHILOSOPHY “
DIALECTICAL MATERIALISM from the “Selected Works of Mao Tse-tung”
8% currently
I disagree with that statement. If you are not going to college as a Democrap, you will be one by the time you get out. That’s what that whole education program is about. Brainwashing.
More ominous could be the reasons behind this..... education reditribution. Middleclass American students with an average family income and with all the t’s crossed and I’s dotted will begiven choices on the low end of the education spectrum and told what coarses and jobs will be available for them while inner city students and illegal immigrants with poor grades from low income families will be government subsidized with free education at the middleclass famlies expense sent to the most prestigious schools in the land, Harvard, Yale, Princeton with jobs waiting for them upon graduation in top corporations beholden to the elitist socialist government. Sounds crazy? Look what we thought was crazy a year ago.
http://www.freerepublic.com/focus/f-bloggers/2483116/posts
Also students will not have to pay back the outstanding balance after 20 years for loans taken after 2014.
http://www.freerepublic.com/focus/f-news/2483089/posts
National Debt at 90% of GDP by 2020, no make that 105% of GDP at rate we are going!!
The government doesn’t give anything without extracting liberty in return. It will be interesting to see what students will have to agree to in order to get the loans, like “volunteering” for Obama’s community service programs, or his civilian army. Then there will be the flip side. What kind of liberal causes and jobs can graduates take part in to get their student loans erased? Will there be jackboots and uniforms at the end of this fascist road?
They are presently at 3-4%! Thats precisely the point, the RATS are taking the spread and using that to rreduce the deficit on their DEATH PLAN and Not calculating in the cost of thousands of inefficent Dovernment Workers and Bureaucrats that will replace the Bankers who handled the Loans before, thousands of private banking employees out of work to humor Numbnuts and his Soviet style Takeover of another private enterprise sector. Looking more and more like the Chavez Venezuela Takeover Model and pretty soon, its going to be too late to reverse course, just like the TITANIC!
I don’t know about you, but just how many Obama shirts do you see compared to a year ago?
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