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Scott Paterno
Scott Paterno

Uncomfortable Truth Blog

by Scott Paterno

Who are we subsidizing?

October 26, 2011

In his latest effort to make his re-election relevant to an increasingly restless youth block that he desperately needs, President Obama later today will announce a program to make student loans "more affordable."

One has to wonder how on earth this man can be called a populist. Consider: the way it is structured there is almost no downside to running up a huge bill in college and grad school, taking a job at McDonald's (if your PhD in Transgender issues qualifies you, which I doubt) and just hanging out until you hit 50, when all your $300K of debt will be forgiven -- remember, repayment is capped at 10% of income per year for 20 years...

And who is paying off the balance of those debts? Middle America, who sent their kids to state schools and community colleges on their own dime, only to see their taxes go up to pay off the debts of Ivy leaguers with too much liberal in their education and way too few useful arts.

This is the champion of the poor? Taking billions of dollars from the many to benefit an elite few the most?

Uncomfortable Truth Blog Archives (last 25)

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View   September 26, 2011  Newt then (and I love the now).
View   September 19, 2011  Read the Robin Hood story again - CLOSELY.
View   September 18, 2011  Happy Constitution Day (belated)
View   September 14, 2011  @Attackwatch
View   September 13, 2011  Chief of Staff Gingrich
View   September 12, 2011  Reflections on 9/11/11
View   September 02, 2011  Petty Politics
View   August 26, 2011  Come on Irene
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View   August 15, 2011  Poor Barack
View   August 12, 2011  Introducing the Uncomfortable Truth Blog
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