Skip to comments.Robbing retirees: The dirty little secret of O’s student-loan fix
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 Obamas much-touted plan to put a one-year freeze on student interest rates was signed into law with great fanfare this month. But the bills supporters hadnt 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.
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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.
Indeed. I remind liberals of exactly what Robin Hood did whenever they try to compare Obama to Robin Hood. Makes them so mad. ;)
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?
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.
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.
That Russell Crowe (not guilty) Robin Hood movie showed the Hood fighting for the overtaxed people against the government and for liberty.
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.
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).
“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.
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.
“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.
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.
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!
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.