President Barack Obama has signed a law that finalizes his health care overhaul and makes the government the issuer of all federal college loans. The new law strips banks of their ability to issue federal student loans in favor of direct government lending. Obama claims that $61 billion dollars will be saved by eliminating banks (that we bailed out) as the middle men in servicing student loans. What he did not mention is the additional cost of building a new government buracracy to handle these loans, will eventually far outspend the $61B, the job loss in the private banking sector (we bailed out), and possible political advantages towards “acceptable or unacceptable schools” deemed worthy to receive student loans. Also this program will promote social engineering by forgiving student loans for those graduates who choose to work in “acceptable jobs” within the government for 10 years or more.
He also didn’t say this is the exact blueprint for the government to eventually take over health care.. it is bundled in with the health care bill.. This Look There Not Here Strategy is giving everyone logic whiplash. Community Organizing on Steroids..