I’m sure the unions were very happy when they heard about Obama’s student loan plans.
I paid off my own student loan. Now it looks like I can help pay off the student loans for millions more. While we’re working hard to cover the salaries, pensions and life time health benefits of public sector employees, now we can pay for their student loans, too! The republic will be brought to it’s knees in no time.
Not only does Obama want to nationalize the student loan industry, he also proposed capping student loan payments at 10% of salary and 20 years of payments, or 1o years of payments for public sector employees.
At this point, it’s not entirely clear what type of “public service work” would qualify an individual for this deal. But as it stands, the public sector is appealing enough to college graduates. According to USA Today, the number of government employees taking in six-figure salaries has exploded, and the growth of these big-shot salaries has pushed the average federal worker’s pay to $71,206, compared with $40,331 in the private sector.If implemented, such a plan could very well have some influence on the career paths of young college graduates. And it might have an impact on the rest of Americans. Since the government doesn’t have a vault of money set aside for this sort of plan, taxpayers will foot the bill. Taxpaying hairdressers, plumbers and machinists who chose not to attend college would be forced to pay off the debts of college graduates (at an even higher level if they decide to join the public sector).
Francis Cianfrocco of the New Ledger adds:
Higher education is like healthcare in that payments to providers are already heavily subsidized by government. Also like healthcare, the cost of education is rising every year far more quickly than the general inflation rate…colleges and universities are also like hospitals and medical practices in another sense: with no built-in incentives to cut costs, they don’t cut costs.
Therefore, as college costs continue to rise, future students may be forced to take out larger loans to pay for the increasingly expensive college bill. That means more college debt would be thrust onto the backs of taxpayers. This is a program that would almost certainly grow over time, considering the existing structure of American higher education.
Look at the average salary of public vs. private sector employees – that in itself is unsustainable. Now we’re going to give even more taxpayer dollars to the public employees. I wasn’t kidding when I said this president will bring this republic to its knees.
And don’t think this has anything to do with Obama wanting to improve education. If he cared about education he wouldn’t have taken away the grants from the kids in Washington, DC. This is about winning back the young voters. The ones his economic policies are hurting the most – so far. If the unions like it, all the better – for him.
The Naval Air Station at Sigonella, Sicily would be a start. Find KSM guilty and give him to the Sicilian Mafia. Problem solved!
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