Just where you would expect him to be; that is, telling lies to groups of backward children on college campuses. He’s recycling one of his greatest hits from last year’s presidential campaign, bloviating about the high cost of college.
The student loan situation is a classic example of what happens when liberal “compassion” drives public policy. The inevitable result is cruel. The original idea: make college “affordable” for everyone. The policies put in place end up making it less affordable because huge federal subsidies only encourage increases in tuition and increases in administrator compensation. The law of unintended consequences strikes again.
I know that you will find what I’m about to tell you shocking, but Barack Obama isn’t exactly telling these bright, shining, admiring faces the whole truth when he undertakes these Children’s Crusades bus trips. For example, why isn’t he mentioning that part of the “savings’ that resulted from removing those evil big banks from the student loan process was used to fund his health care scheme? From Pat Dollard:
The Affordable Care Act is set to cost students enrolled in the government’s loan program $8.7 billion in extra interest over the next decade, according to a report published by the non-partisan Congressional Budget Office (CBO).
According to a report from the CBO, Obamacare is costing students enrolled in the government’s loan program an extra $8.7 billion in interest.
If savings were kept inside the loan program, instead of transferred to Obamacare, as some Republican senators are suggesting, they could allow the Department of
Education to lower student interest rates to 5.3 percent from 6.3 percent, according to the CBO.
What? These brainless screaming Obama acolytes don’t realize that they are suckers?
Wake up, Children. You have been had.