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Robbing retirees: The dirty little secret of Os student-loan fix
NY Post ^ | July 18, 2012 | Nathan Harden

Posted on 07/18/2012 7:49:12 AM PDT by C19fan

Robin Hood robbed the rich to pay the poor; now Uncle Sam is robbing the old to pay the young — raiding pension funds to keep student-loan rates artificially low. President Obama’s much-touted plan to put a one-year freeze on student interest rates was signed into law with great fanfare this month. But the bill’s supporters hadn’t said where the money to subsidize the lower rates would come from. Columnist Daniel Indiviglio of Reuters dug up the details this week, calling the bill financial “hocus-pocus.” The student-loan scheme was buried in a transportation bill. In it, the government raided its pension-guarantee fund to the tune of $6 billion — although the fund is already running a deficit of $26 billion.

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


TOPICS: Culture/Society; News/Current Events
KEYWORDS: pensions; studentloans
I do not know what it is going to take or what calamity would have to befall this country to make any inroads with this byzantine system we have now. So pensions are being robbed to subsidize student loans yet same students will be forced to buy insurance at much higher prices than their age would dictate to subsidize health insurance for older people. This whole edifice of Gordian knots needs to be cut.
1 posted on 07/18/2012 7:49:20 AM PDT by C19fan
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To: C19fan
Robin Hood robbed the rich to pay the poor;

Another dirty little secret. In the original Robin Hood story (before political correctness rewrote it), Robin Hood stole from King George - the government - and gave the money back to the poor over taxed peasants. You could say Robin Hood was a huge TEA party supporter.

The original tale is the opposite of the way it's being used today.

2 posted on 07/18/2012 7:57:09 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: concerned about politics
The original tale is the opposite of the way it's being used today.

Indeed. I remind liberals of exactly what Robin Hood did whenever they try to compare Obama to Robin Hood. Makes them so mad. ;)

3 posted on 07/18/2012 8:04:12 AM PDT by MEGoody (Ye shall know the truth, and the truth shall make you free.)
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To: C19fan

I don’t really understand why they needed to do the bookkeeping exercise of “taking” money from the PBGC - which apparently has a value of negative $26 billion.

Why not just create more Baraqqi/Bernanke/Geithner minibucks?


4 posted on 07/18/2012 8:04:59 AM PDT by nascarnation
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To: C19fan

That Transportation Bill was chock-full of myriad evils. But it was sure to draw plenty of Pubbie votes, due to all the pork involved.


5 posted on 07/18/2012 8:10:46 AM PDT by Buckeye McFrog
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To: C19fan

You forgot to mention that
1. Many of loans go to kids that can’t get a job and instead buy into the fallacy that a BA gets you somewhere and therefore enroll in African Studies, Social Responsibility, English Lit., PolySci etc.
2. Few students are encouraged to learn a trade - welding, plumbing, auto repair, electrical contracting - all trades that earn very respectable income and are actually useful in society.
3. The government charges interest on the loans (of course) and therefore makes money on the students and saddles them with debt right from day one.


6 posted on 07/18/2012 8:12:27 AM PDT by bossmechanic (If all else fails, hit it with a hammer)
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To: C19fan
The one common denominator is that Obama sees a pile of cash that someone has built up and he commandeers it to spend it on his friends or supporters.
7 posted on 07/18/2012 8:12:31 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: concerned about politics

That Russell Crowe (not guilty) Robin Hood movie showed the Hood fighting for the overtaxed people against the government and for liberty.


8 posted on 07/18/2012 8:14:46 AM PDT by sportutegrl
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To: concerned about politics

I think you meant bad king John. The Georges didn’t come in until the 1700s.

Richard I the Lionheart is the good king, John the bad boy. It’s nonsense historically but that was the legend. You mixed up bad king George (the villain for Americans, though he wasn’t really thaaaaaaaatttttt bad) with bad king John (who was a mixed bag, as most kings are).

Mostly Robin Hood poached game that belonged to the king. Money wasn’t yet a big deal. The Sheriff of Nottingham is the king’s enforcer.

Again, some of this is not all that historically accurate, but pieces of it are.


9 posted on 07/18/2012 8:18:42 AM PDT by Houghton M.
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To: Houghton M.
I think you meant bad king John. The Georges didn’t come in until the 1700s.

Probably. It was a childhood story. I think every kid had to read it at least once back then (and should still be reading it today).

Oh well. At least I got the moral right. The government officials got richer and richer while the tax payers got poorer and poorer (Sound familiar? History is repeating itself).

10 posted on 07/18/2012 8:38:22 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: MEGoody
so the Zero version is more like the Robin Hood portrayed in the movie ‘Time Bandits”. They would take your stuff, give to other people and as a person got that free stuff, a big goon coldcocks them in the face.
11 posted on 07/18/2012 8:51:33 AM PDT by NativeSon ( Grease the floor with Crisco when I dance the Disco)
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*


12 posted on 07/18/2012 9:18:36 AM PDT by PMAS
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To: Buckeye McFrog

“That Transportation Bill was chock-full of myriad evils. But it was sure to draw plenty of Pubbie votes, due to all the pork involved.”

The Republican House is complicit in everything Obama is doing. They are passing legislation such as this student loan giveaway and another porkulus transportation bill. They’ve failed to use the power of the purse to reduce spending. When Eric Holder gave them the finger and laughter after they held him in contempt they did not draw up articles of impeachment. Obama gets away with what he does because the representatives of the people allow it. They have the Constitutional power to stop it and don’t even try.


13 posted on 07/18/2012 9:24:22 AM PDT by Soul of the South
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To: C19fan

*


14 posted on 07/18/2012 9:29:36 AM PDT by Gator113 (***YOU GAVE it to Obama. I would have voted for NEWT.~Just livin' life, my way~)
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To: Soul of the South

Exactly my thought. Which is likely the reason that there will NEVER be a real investigation into this or any other of the scams perpetrated on the American public.


15 posted on 07/18/2012 9:37:17 AM PDT by Pecos ("We hold these truths to be self-evident ..... ")
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To: C19fan
Obama’s also giving ‘passes’ on repaying student loans to the recipients of the “ New Welare ” also known as “Disability’.... Ever wonder how the people in America's inner city live when 40% of them don't work?
16 posted on 07/18/2012 9:42:54 AM PDT by GOPJ (Political correctness is simply George Orwell's Newspeak by a non-threatening name. FR- Bernard Marx)
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To: C19fan

“Robin Hood robbed the rich to pay the poor......”

Once more with FEELING! Robin Hood robbed the rich EVIL, CONTROLLING POLITICIANS - KING JOHN AND HIS SHERIFF OF NOTTINGHAM, to give the money back to the legitimate owners of the money, the working peasants.

Robin Hood did not ever rob merchants who were not noblemen, but also peasant class!

I am on a crusade here to get people to always object to the liberals trying to claim the mantle of Robin Hood, when in fact, they more closely resemble bad King John.


17 posted on 07/18/2012 9:52:58 AM PDT by Gumdrop
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To: concerned about politics

Which is exactly how the left corrupted and twisted the school voucher idea. Originally, I thought it would benefit folks that actually paid property taxes into the schools that wanted to put their kids in a better school (better neighborhood). They paid for it, they should have a choice.

Instead, it merely became a way where those that do not pay taxes and never did, never would (minorities only) are able to send THEIR kids to better schools (ie white neighborhood schools) for a “better education”. Totally the opposite of what it should be.

America is not just broke. We are broken.


18 posted on 07/18/2012 3:34:29 PM PDT by XenaLee (The only good commie is a dead commie.)
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To: GOPJ

Work? America don need no steenkin work.

Who needs to work (even if one could find a job)? When the government gives you free rent or pays your mortgage, pays your utilities, free food via SNAP, free cell phones and free money to boot, along with those college loans. And if you’re an illegal and have dependents, you can get even more free stuff for each one of them. Hooray!


19 posted on 07/18/2012 3:43:31 PM PDT by XenaLee (The only good commie is a dead commie.)
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To: XenaLee

It’s all fun - but the country’s broke - and the people who work so others can do nothing are getting fewer and fewer. Obama’s making the pie smaller and smaller while ginning up class warfare... I have the feeling this is going to end badly for liberals... for many years to come.


20 posted on 07/18/2012 5:54:55 PM PDT by GOPJ (Political correctness is simply George Orwell's Newspeak by a non-threatening name. FR- Bernard Marx)
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