Posted on 02/13/2018 6:38:48 AM PST by Liberty7732
There is no successful idea in the multiverse that was adapted by Dorkbama the Muslim eunuch quota boy.
He is utterly incapable of college level work, but somehow got all those degrees.
Any wonder that he hides the records?
But, he cannot hide his presidential record of complete and utter incompetence and failure.
People borrowed money and now they have to pay it back. How is that a crisis?
Off topic, but does anyone know if the taxpayers are still paying for Obama phones?
I cannot answer the obamaphone fiasco except to figure that any government program once started becomes eternal.
Obama’s Cloward-Piven weapon of mass destruction.
There has been talk of the student loan (SL) bubble being the next one to burst going on five or six years now.
I have to ask: Would you work hard to pay off your student loan if there was a lot of talk that they might be forgiven?
Yeah, me neither.
They need to foreclose on a few thousand of these SL deadbeats to send a message to the rest of them.
That is absolutely breathtaking. The student loan program really just became another form of welfare.
Because a large proportion of these debtors will never have the resources to "pay it back." Default rates are skyrocketing.
The Universities are responsible for this. They should take the hit out of their endowments for students that fail to repay.
Probably also to appease College Students who lost their high deductible catastrophic plans they could buy as students because it didn't meet the Obamacare "Qualified Plan" requirements, and they went on their parents, correction their parents employers dole until 26.
So "when" Mr. President, I know your busy, but when do we cut this Obama giant chum bucket away from the dock and send it out to see to sink on it's own, give it back to the private sector...
Oops “Sea” not see, lol !!
I agree with you. Some garnishments on pay might be in order, or hold up their tax refunds, etc. This might start to get their attention.
“The president assured Americans that anyone who wanted to go to college would be able to get a loan.”
My how history repeats itself. This is a carbon copy of what the libs did to the housing market starting in the mid 90’s when they called loaning agencies in and threatened them with special taxes if they didn’t start giving loans to high risk clients based upon race. The libs then further destroyed the market by lying about the liquidity of Fanny and Freddie, two of the main loaning recovery funds to cover the expected foreclosures mainly done by Barney Frank and Chris Dodd. The selling point during the Clinton administration was the same as the student loan situation now: anyone can own a house (go to college). Funding is available. Exact same situation with exact same results. And if these people who took the loans are consistent, they will need further government programs to protect them from their stupidity. In rides the libs on their white steed to do that. So the action required is the government has gotta keep them in office to save the day for the thousands that failed on their loan. Votes, votes, votes.....
rwood
I don’t think you can default on a student loan if it is Federally insured. Screw everybody else but the government is going to get their money.
“People borrowed money and now they have to pay it back. How is that a crisis?”
Its only a crisis for the fools who borrowed a boatload of money to buy a degree in intersectional black transgender interpretive mime studies with a minor in hate whitey.
No, you can't discharge a student loan debt in bankruptcy. You can and many do default on it by failing to make repayments. You can't squeeze blood out of a turnip. If they don't have the money and don't have wages to garnish it's the govt. that takes the hit. That's all federally insured means now.
A crisis deliberately created for political reasons.
Democrats can now come to the rescue by floating loan forgiveness proposals. We underestimate the potential of this at our peril.
Below is his new presidential painting surrounded by his favorite herb of choice. He and his chair are floating in the air and his favorite herb.
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