Voters-Be-Damned… Obama Plows Ahead With Radical Agenda- Will Nationalize Student Loan Industry
Posted by Jim Hoft on Wednesday, January 20, 2010, 11:46 AM
Evidently, Obama didn’t get the message.
We’re not all socialists anymore… We’re tea partiers.
Via Instapundit.
Ignoring the warning shots in Virginia, New Jersey, and now, Massachusetts, Barack Obama will plow ahead with his radical agenda and nationalize the student loan industry.
CNS News reported:
A bill currently before the Senate would empower the Obama administration to nationalize the student lending industry, eliminating the federally subsidized private loans millions of university students rely on to finance their educations.
The Student Aid and Fiscal Responsibility Act – currently being considered by the Senate Health, Education, Labor, and Pensions (HELP) Committee – would eliminate the Federal Family Education Loan (FFEL) program. FFEL loans are federally subsidized and make up approximately 80 percent of the student lending industry.
According to the Department of Education, 14.3 million of the 17.5 million student loans were federally subsidized for the 2009-2010 fiscal year. Under Obama’s plan, the government would consume the entirety of this industry – a total of $103 billion in 2009-2010.
Because nationalizing the health care industry isn’t quite enough.
ADVERTISEMENT
-
Featured Story:
Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 60 Comments
Militant Conservative commented:
Pick you fights carefully, WE ARE NOT GONNA TAKE THIS S**T ANYMORE. I typed it slowly so the NOTUS can read it.
Tom63010 commented:
I saw this cover and thought “man, I want a copy of that Newsweek”.
I went to Newsweek only to discover their latest cover and it is:
“The Conservative’s Case For Gay Marriage”
OK, I admit it was wishful thinking.
Jeff commented:
lets see how this fares when it comes up for a vote … Obama may not be listening but many other Dems are and won’t fight for something like this …
Opus #6 commented:
…because he hasn’t pissed us off enough.
Alana commented:
What’s their rationale for taking over the student loan industry?
JPL17 commented:
I’m so frickin’ sick of my liberal acquaintances saying over and over again that “Obama’s not a socialist.”
Message to world: Obama is a socialist. He’s just doing it one piece of the economy at a time, instead of all at once. But unless we stop him, one morning we’ll wake up to see that the federal government “suddenly” owns or controls a majority of the economy.
Stop the Obama socialist project now!
StopObama commented:
You realize, of course, that we would be paying for a free college education for illegal aliens. In fact, Illinois does so already.
Think of all those Democrat voters.
This doesn’t end well at all.
Militant Conservative commented:
Speak for yourself Opus#6. I for one will take no prisoners on the battlefield, no quarter asked and none given. This is a blood sport and I have pledged my life, liberty and honor. If you take everything a man has…….I have nothing to lose and all to gain.
J commented:
Do you think the voters get it, today? Do they understand that after electing Brown, the dems are STILL going to do what they originally said they were going to do? Do you think the voters finally realize they elected rulers last 2006 and 2008? And you don’t get to vote rulers out of office.
nickless commented:
Imagine when the gummint can decide what you can study.
Want to be a doctor? Sorry, we in the gummint think there are too many. Denied.
Social work? Rubber stamped. Welcome to the bureaucracy, brother.
Robert commented:
This is exactly why college tuitions have risen so much. With the endless supply of government (our taxpayer) money, costs have far outstripped inflation. The excess money creates a vacuum into which college charges naturally fit. Same as in health care.
If you don’t think so, then go onto the campus of the nearest university and look at all the magnificent buildings. They are having a grand time at our expense, all while churning out business graduates with no morals or even ethics, and liberal trollops who can’t see reality as it smacks them in the face .
Chip Bennett commented:
I’m thinking such a bill won’t pass Constitutional muster.
I don’t think there’s anything in there that lets the Federal government interfere with a private contract between two parties. If a bank wants to issue a loan to someone to pay for education, the Federal government has no right to stop it.
Patriotic commented:
The voters are coming after the rest of the Progressive loud mouths next…
…Dick Durbin, Nancy Pelosi, Harry Reid, John Kerry, Anthony Weiner, Alan Grayson, Debbie Wasserman Schultz, Barbara Boxer, Barney Frank…etc…
…America is sick and tired of you telling/nannying us how to live our lives…
…We’re not letting up the pressure even after we vote out Barack Obama and his agenda…
…The fight to return the United States of America back to a nation based on the Constitution will take a lifetime commitment from Conservatives.
Thank you Barack Obama, and the rest of the Progressives for waking America up.
Robert commented:
Scott Brown is talking about “all the challenges we have before us”. I hope he doen’t think he has to solve all of them.
His biggest challenge is getting government out of every nook and cranny of Americans’ lives.
Derak commented:
“What’s their rationale for taking over the student loan industry?”
My take on it is so they can “equalize” opportunity. I can only imagine what gyrations they will go through to make sure only the “correct” candidates go on to higher education (and, implicitly, success.)
annecarr commented:
My belief is that this will begin the apparatus to ensure the students complete the citizen service requirement Rahm Emanuel spoke about in his book, The Plan, and is on record speaking about it in at least one interview. See the Democratic Leadership Council (remember them from the Clinton era?) review of the book:
http://www.dlc.org/ndol_ci.cfm?contentid=254076&kaid=127&subid=171
TXPatriot commented:
I hate to disagree with the contract comment (because in normal times I would not disagree), but they already HAVE violated contract law by ignoring the bond contracts of the auto companies. The bond holders were supposed to be first in line, or well ahead of others, via their contracts. They were pushed to the side, given pennies on the dollar, and silenced. Same with the auto dealers. Why would this be any different?
If he can put a tax on banks that have paid back the money, tax benefits that are owed per contracts, close profitable dealerships, and stiff bond holders, how is this one any different?
StopObama commented:
The rationale is votes–collecting votes, creating dependency, brain-washing, embedding the government into every area of our lives to build a permanent, unshakable constituency. If he can’t come in the front door, he’ll try the windows. Don’t let your guard down; he’s a marxist, and he is serious.
squeaky commented:
OT from free republic – more jobs created from
stimulus. i would think more along the line of
adding to government jobs and the unions that represent them.
http://www.cnsnews.com/public/content/article.aspx?RsrcID=60089
wtd commented:
So our finest educational institutions of higher learning haven’t graduated enough “semi literate idealogues” to support the marxist shift, aka Alinsky wet dream? Apply the tactics used with FannyMae/FreddyMac to university education.
Poopsicle commented:
lol You seriously think one special election will derail Obama’s agenda? This was hardly a referendum.
LL commented:
The objective of the utopian socialist agenda calls for a nationalization and socialization (National Socialism) of ALL private enterprise, banking, healthcare, and eventually collectivizing manufacturing and agriculture for the benefit of all.
That Barack Hussein Obama would push for the government to swallow student loans makes perfect sense in this context.
Alana commented:
Well, I meant, what is their excuse for needing this (rather than their ulterior motives).
anon commented:
THE REAL ISSUE IS OBAMA’S ATTEMPT TO PRICE FIX FOR VOCATIONAL EDUCATION:
Barrington Research analyst Alexander Peter Paris Jr. told Dow Jones Newswires that the revisions are an example of the Obama administration overreaching its efforts to control tuition pricing. He added that the revisions appear to be the DOE’s attempt to limit what colleges can charge for tuition by regulating debt loads, rather than tuition costs.
http://online.wsj.com/article/BT-CO-20100119-713027.html?mod=rss_Hot_Stocks
God forbid you want to pull yourself up by the bootstraps and do something to improve your life. So, you decide that you want to become a certified mechanic. You go out and research the tuition vs the salary potential after graduation, and it looks like a good investment. It meets your risk-reward tolerance, and decide to give it a shot. In steps the govt which deems you unworthy of a mechanic’s degree (certification?) due to your salary potential upon graduation and refuses to fund your loan.
Chisum commented:
Poop Poop Poopsie….Don’t Cry….
Beachbum commented:
“Poop”sicle –> lol You seriously think one special election will derail Obama’s agenda? This was hardly a referendum.
Yes it will help to derail Obamas agenda and yes it was a referendum “Poop”sie.
Your comments are expected and as usual a joke. So go back to drinking your kool-aid, lick those nasty wounds you received last night and keep thinking the way you are as we take back our country from you and your kind.
Your days are numbered and are counting down so stock up on that kool-aid, get yourself a lot of bandages and hang on for the ride. Tick Tock Tick Tock.
seven commented:
So Obama can ration degrees?
Environmental degrees?
Economists?
Will Liberty university or any other conservative school be “blacklisted”?
If the state takes over schools, they must dictate what is taught.
3 hours minority studies
3 hours gay studies
3 hours marxism 101
Entrepreneurship (how to start a drug dealership)
I guarantee if they finance tuition, they will want to put in their own HR people and force the Mennonite colleges to have gay, atheist faculty.
wanumba commented:
There’re so much nasty with this push to nationalize student loans, several points made up there, like – price fixing college tuitions, the gov’t deciding by your proposed major whether it’s gonna bother to loan to you or not. Politically connected will get great deals, unconnected get cut out.
But because of cheap gov’t back loans already, the university diploma is as over inflated as the housing market was. People are signing on to loans they can’t repay, they are going to more expensive colleges than they would with more market-logical loans, and the colleges have the incentive to offer worthless majors – money aplenty for frivolities. Universities are larding up on luxuries like big food courts, posh recreation features like lounging pools, massage, niceities usually found in resorts, “luxury student dorms”!!! Arrgh!
One other facet of this. Who’s recently taken a look at the financial aid application? We weren’t interested in applying, but the guidance counselors are telling the students, “You SHOULD fill it out anyway, in case you might qualify for scholarships.” In case?
No. That’s loaded with PRIVATE and INTRUSIVE and COMPREHENSIVE demands for financial information about the family and goes into a huge database. No thanks.
wanumba commented:
The college to ask about this is Hillsdale College. They went 100% private loans ONLY after the USG tried to forced them to impose government regulations. Went to the Supreme Court which ruled that if even one cent of USG loans or scholarships from even just ONE student were accepted by the college, they had to conform to USG regs.
Hillsdale said, “Fine. No more government-backed loans period. Not one penny.”
They’ve done very very well with a 100% private financial aid structure.
Wonder how this will impact them. Bet they are watching this very closely.
Joanne commented:
Isn’t service in Obama’s civilian military mandatory in order to receive a student loan? Looks like Obama is weeding out the wheat for the tares, so to speak.
squeaky commented:
among the candidates coakley beat out for the democrat nominee for senate alan khazei.
http://en.wikipedia.org/wiki/City_Year
bg commented:
++
Joanne @ 2:36 pm #31
Obama’s Plan for The Draft- MANDATORY SERVICE everyone 18-25
squeaky @ 3:35 pm #32
Obama Civilian Security
==
bg commented:
++
re: bg @ #33
Michelle Obama thesis was on racial divide
Michelle’s Boot Camps For Radicals
==
Bobbi commented:
Poop’sie,
I can tell you know nothing about Massachusetts. Human beings are not born in Massachusetts, Democrats are.
Sojourner commented:
The gnarly fingers of big government and its surrogate, big interest groups, have’ had at’ our education system almost since the beginning of time it seems.. it reminds me very much of health control in that DC bureaucrats love to mess with it without ever doing much but messing it up and spending a gazillion tax dollars in the process..I’ve seen its affects, up close and personal. and can honestly say that now, when I hear,”I’m here from the government and I’m here to help,” I head for the closest emergency exit. Lumbering layers of politically correct ‘programming’ are ‘engineering’ our kids (while the lib-elites own are groomed in private schools)into complacent albeit, loyal zombies,untrained in critical thinking skills which are so vital for democracy to flourish..we need to teach our children how to think and not what to think and more big government in education, in my humble opinion, results in just the opposite.
Alana commented:
OK, I looked it up a bit. Seems their excuse is that it will “save money” by eliminating the middleman, the banks.
They say that that if interest rates go down, the government can pocket the difference.
Seems to me that in a free market, if interest rates go down, the banks could offer loans at a lower rate.
This plan is that the rate will stay the same, and the government will be able to profit more that way.
pgwarner commented:
This is very old news. It is not Obama’s bill. The idea predates him. Kennedy tried to get it passed for years.
The only senator that has been trying to stop this bill with any sucess is Ben Nelson. A bit strange isn’t it?