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Roanoke Times, 3-14-12, Pg 5: AP: Increase in student loan rate opposed. Interest rates on some loans could double, increasing the cost to students by thousands.
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WSJ: The Bill for Obama Loans
http://online.wsj.com/article/SB10001424052702304450004577279662086752488.html
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The AP story carries water for Obama and the Democrats who were responsible for setting this issue in play five years ago by projecting future decreases in these loan rates.
The issues are ever bigger now that Obama has made the taxpayers responsible for all student loans and therefore responsible for funding all defaults. This is the equivalent of the Fanny-Mae and Freddy-Mac homeowners’ financial disaster.
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The WSJ article quantifies the current taxpayer liability as $870 Billion with 27% of student borrowers having past due balances.
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Just as with ObamaCare (which contains undefined student loan forgiveness options), Obama and the Democrats continue to escalate and pile on massive debt and obligations upon the taxpayers with no end in sight to the $15 Trillion debt and another $1.2 Trillion deficit for this year.
They continue to absolve the dependents of personal responsibility and place their obligations upon the taxpayers.
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Just More Hope And Change We Can Depend On!
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http://roanokeslant.blogspot.com/2012/01/deficit-and-debt-crisis.html
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http://roanokeslant.blogspot.com/2011/07/obama-congress-why-raise-debt-limit.html
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http://roanokeslant.blogspot.com/2011/08/usa-whats-your-credit-score.html
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http://roanokeslant.blogspot.com/2011/04/like-crack-addicted-junkies-government.html
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