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Socialism in Action: Obama’s Education Chief Says Student Loan Bailout to Address Income Inequality
The Gateway Pundit ^ | 10/26/11 | Jim Hoft

Posted on 10/26/2011 1:35:32 PM PDT by Nachum

Socialism in action. The Hill reported, via Memeorandum:

President Obama’s education reform efforts will address growing income inequality in the U.S., Secretary of Education Arne Duncan said Wednesday.

Speaking on MSNBC’s “Morning Joe,” Duncan promoted the administration’s jobs plan, portions of which are targeted at updating school facilities and hiring teachers.

He also blasted Congress for not moving forward with Obama’s jobs bill, saying the nation needs to “stop subsidizing banks and give that money to young people.”

(Excerpt) Read more at thegatewaypundit.com ...


TOPICS: News/Current Events
KEYWORDS: chief; education; inequality; socialism
Woo hooo!!!!! Free Money! Get yers now! But- ya gotta vote Obama or no FREE MONEY!

It's FREEEEEEEEEEEEEEEE

1 posted on 10/26/2011 1:35:36 PM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com


2 posted on 10/26/2011 1:37:33 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

President Zero is determined to do everything to see to it that we are all equally poor.


3 posted on 10/26/2011 1:40:09 PM PDT by Saltmeat
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To: Nachum

I’m at a loss as to how he will make sure the “reparations demographic” gets the lion’s share of this bailout,

but I’m sure he’ll be able to pull it off.


4 posted on 10/26/2011 1:42:16 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: Nachum
He also blasted Congress for not moving forward with Obama’s jobs bill, saying the nation needs to “stop subsidizing banks and give that money to young people.”

Only in Bizarro world can this statement be made with a straight face .....

5 posted on 10/26/2011 1:43:18 PM PDT by An.American.Expatriate (Here's my strategy on the War against Terrorism: We win, they lose. - with apologies to R.R.)
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To: Nachum
... “stop subsidizing banks and give that money to young people.”

Like those butt holes protesting at OWS? I don't think so!

6 posted on 10/26/2011 1:43:55 PM PDT by SandRat (Duty - Honor - Country! What else needs said?)
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To: Nachum

That’s exactly what it is. The government pays the universities whatever they ask for (to pay the radical cohort that is the faculty), and the student pays 10% of his income for the next 20 years to cover his loan, and then the rest is forgiven. It doesn’t matter what the principal amount is.


7 posted on 10/26/2011 1:44:13 PM PDT by Piranha (If you seek perfection you will end up with Democrats.)
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To: Nachum
“... give that money to young people.”

It will never be enough.

8 posted on 10/26/2011 1:45:35 PM PDT by depressed in 06 ( Where is the 1984 Apple Super Bowl ad when we need it?)
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To: Nachum

What a racket. Making student loans only through the gov was the first thing he did as president if I remember correctly.


9 posted on 10/26/2011 1:47:02 PM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
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To: Nachum

So, with an executive action, I not only get to pay for my kid’s education but everyone else who don’t want to pay for their kid’s college loan.


10 posted on 10/26/2011 1:48:15 PM PDT by jonrick46 (2012 can't come soon enough.)
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To: Nachum
It's FREEEEEEEEEEEEEEEE
^^^^^^^^^^^^^^^^^^^^

I am reminded of the song “Money for Nothing Chicks for Free” by Dire Straits.

11 posted on 10/26/2011 1:48:36 PM PDT by wintertime (I am a Constitutional Restorationist!!! Yes!)
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To: Nachum
stop subsidizing banks and give that money to young people Why not old people? Oh yeah they are no longer useful to the Marxist way of life.
12 posted on 10/26/2011 1:50:19 PM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
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To: Nachum

Obama’s bailout of those with worthless majors who racked up loans at expensive schools is despicable. It means that working during college was for the suckers. It is a further disincentive to work and to pursue degrees which actually are worth a students time: sciences, medicine, and engineering.


13 posted on 10/26/2011 1:52:51 PM PDT by jimnm
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To: Nachum
Same ol' sh$t:


14 posted on 10/26/2011 1:53:49 PM PDT by traditional1 ("Don't gotsta worry 'bout no mo'gage, don't gotsta worry 'bout no gas; Obama gonna take care o' me!)
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To: Nachum
Affirmative Student Debt Reduction Plan

I know, don't give'em any help.

15 posted on 10/26/2011 1:55:48 PM PDT by TexasCajun (Fast & Furious , Solyndra & Light Squared would be enough to impeach any White President !!)
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To: wintertime

More like a commercial we hear in California...

http://www.youtube.com/watch?v=gxpYrnRS_00&feature=related


16 posted on 10/26/2011 1:56:51 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: depressed in 06

“young people”, myself included when I was a “young people”,

don’t realize the TIME and the amount of “dues paying” that goes into amassing wealth.

“Not fair! That old fart is driving a corvette!”


17 posted on 10/26/2011 1:59:25 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: Nachum

All this is is a bailout of colleges ... they’ve raised their tuitions another 8.3% this year. People can’t afford it, so who pays for their increase? The government of course ... give the money to the student who gives it to the college. It’s just a “sneaky bailout” of BIG EDUCATION which takes NO HITS when they have a price increase. (And this from someone who PAID OFF HIS STUDENT LOAN IN FULL!)


18 posted on 10/26/2011 2:00:10 PM PDT by ThePatriotsFlag
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To: Saltmeat

The sliding scale of wealth redistribution is being applied to all segments of the economy with breakneck speed. Casey Jones Obama has broken the handle off the brake and a cliff lies just up ahead.


19 posted on 10/26/2011 2:00:16 PM PDT by SpaceBar
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To: Nachum

The student loan program that King Obama announced this week is typical vote-buying welfare that invites abuse and fraud.

True story. I struck up a conversation with a woman in an airport while waiting for a flight. The economy and the plight of recent college graduates came up. She openly (without a hint of shame) told to me how her daughter plans to take advantage of Sugar-Daddy Obama’s generosity.

Her daughter is majoring in a graphic design program at an expensive CA university and already has $56,000 in student loans.

Realizing that the labor market is depressed, instead of graduating, she is staying in school and living off student loans as long as she can. Which is what millions of others will do too.

She has no incentive whatsoever to limit how much debt she racks-up. She knows that she will not be held accountable to pay it back. Why stop at $56,000? $100,000! $150,000! $200,000! Sky’s the limit when you are spending free money!

After 20 years of repaying not much if any of her student loans, her debt will be forgiven.

How neat! Like free money or something!!

She added insult to injury by telling me that in her daughter’s line of work, many times she will be paid cash or on a 1099/self-employed basis.

So, since her daughter doesn’t plan to show much income tax on her tax returns anyway, the 10% of discretionary income will be practically 0. She plans to pay back almost ZERO!!

I shudder to think that we already have $1 trillion in student loan debt. With a government give-away like this one, we could easily double that to $2 trillion. What happens when the gov’t has to start forgiving 100s of billions in dollars in student loan debt?

Who pays for it? The money was spent. Somebody expected to get paid back. Who loses and/or who pays it if not the student?

That is exactly how the system will be gamed.

Those brainwashed kids standing behind Obama and cheering in front of him have idea how quickly he is destroying their country. So sad.

Easy, cheap, government-guaranteed money caused the housing bubble. Now it has caused a higher education bubble.

This is the vote-buying politicians’ way to keep the bubble inflated and keep the money flowing to one of their best mouth-pieces... liberal professors.

And the politicians won’t stop bribing the people with their own money until we are Greece on steroids.

I am profoundly sad to say that this woman was NOT an Obama-supporting liberal.

That is what happens when a country goes Socialist.

Everyone takes as much as they can, until there is nothing left to take.

As Prof. Alexander Frazer Tytler supposedely said back in the 1800’s (paraphrasing): A democracy cannot exist as a permanent form of government. It can only exist until the voters discover they can vote themselves largesse out of the public treasury. From that moment on the majority always vote for the candidate promising the most benefits from the treasury with the result that democracy always collpases over a loose fiscal policy, always to be followed by a dictatorship.

That describes Greece today. It could very well be America soon.


20 posted on 10/26/2011 2:10:15 PM PDT by Painesright
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To: Nachum
So a person who couldn't afford to go to college and had to go to work for a living will now have to pay more in taxes so the "Whinety Whine" percent can cruise a little easier.

Every one knows that many people borrow much more money than they need for college because they use it to party, buy cars, take vacations, pay for living expenses, etc.

Now there will be even more of this abuse.


21 posted on 10/26/2011 2:18:15 PM PDT by Iron Munro ('We do have tough gun laws in Massachusetts; I support them.' -- Mitt Romney)
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To: Nachum


22 posted on 10/26/2011 3:11:01 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: Nachum

We command you!! “Give that money to young people.”

Duncan should be marching on Wall Street and manning the barricades.


23 posted on 10/26/2011 3:19:42 PM PDT by ProtectOurFreedom
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To: TexasCajun

Using our money to make his national security force happy


24 posted on 10/26/2011 3:56:22 PM PDT by ronnie raygun (V)
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Woo Hoo! Turn this Thon on! Donate Here!
Graphic stolen from Freeper BIGLOOK.

25 posted on 10/26/2011 4:20:38 PM PDT by RedMDer (Forward With Confidence!)
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To: Nachum

We gladly saved for a lifetime and paid our two children’s tuition (beyond what they paid for out of their earnings) so they wouldn’t start out life in debt. Silly us! You go do something like that, there’s a higher sticker price than for people with aid or loans.

We’ve already paid for someone else’s kids.

With the government backing all student loans, sounds like a big “come on down” for colleges to jack up the rates again and again.


26 posted on 10/26/2011 11:01:05 PM PDT by ntnychik
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