Obama signs law finalizing health care, loan redo
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0
Badsey
The student loan thing is interesting: 6% interest on loans and a cap of 10% of income for payments (max you will pay is 10% of your income). 2% loans to the Gov from the Federal Reserve with the profits (the 4%) used to help fund ObamaCare.
I thought 6% was actually kind of high historically for student loans, but now it is not. http://www.salliemae.com/getstudentloan/applystudentloan/interestratesfees/
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goodDonkey
People on the right were calling this socialism too because they aren't all that bright. I explained then that the banks should not be collecting interest if they were not taking any risk. I said I had no problem with the banks charging service charges which they will now still receive.
0
SushiSake3
When is too much of a good thing a bad thing? Only conservatives know the answer... :-)
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skipthesong
that student loan thing had to be fixed for a long time. Don't know why it had to be tied to health care though.
0
sailwind
Putting lipstick on a pig would be the answer on that one.
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adaydream
Smacks the banks for screwing parents, students and the US. I'm glad this was taken away from banks. < :-)
0
skipthesong
aday... you are aware that when the gov has made it illegal to file bankruptcy against paying for student loans, aren't you?
Again, it is the gov that caused most of the problems. Look it up.
How about bringing the cost of school down and wipe the need for such loans?
0
skipthesong
aday and others, how are you going to feel that once another party comes into power - nothing lasts forever, and the gov is as big or bigger than it is now? The bigger the gov the more idiots there are going to be goign in and out.
Bring the costs down and all will be well.
0
adaydream
Yes, I'm very aware of it.
That'll happen when? With both state and private colleges that'll happen never. Watching school tuition go up like 10% every year. I'd like to see their ability to raise tuition stunted. < :-)
0
RomeoRamenII
What the liberal mind is passionate about is a world filled with pity, sorrow, neediness, misfortune, poverty, suspicion, mistrust, anger, exploitation, discrimination, victimization, alienation and injustice. Those who occupy this world are “workers,” “minorities,” “the little guy,” “women,” and the “unemployed.” They are poor, weak, sick, wronged, cheated, oppressed, disenfranchised, exploited and victimized. They bear no responsibility for their problems. None of their agonies are attributable to faults nor failings of their own: not to poor choices, bad habits, faulty judgment, wishful thinking, lack of ambition, low frustration tolerance nor defects in character. None of the victims’ plight is caused by failure to plan for the future or learn from experience. Instead, to the radical liberal the root causes of all this pain lie in faulty social conditions: poverty, war, unemployment, racial prejudice, ethnic and gender discrimination, capitalism and imperialism.
In the radical liberal mind, this suffering is inflicted on the innocent by various predators and persecutors: “Big Business,” “Big Corporations,” “greedy capitalists,” U.S. Imperialists,” “the oppressors,” “the rich,” “the wealthy,” “the powerful” and “the selfish.”
We read that here all the time from all the left wing posters.
0
Badsey
The Gov <4% (profit after costs) made off (no pun intended) these loans should only be used to go back into a student loan fund for these students. Likewise the Federal Reserve should do the same on their profit from these "loans."
-otherwise I only see this as another Ponzi to fund their war effort.
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Badsey
I would like to see all profits after costs from the Gov and the Federal Reserve go into a fund to support students loans for these students.
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OneForAll
Good. This thing will get fined tuned through the courts, I hope. The student loan takeover is a good thing, I hope. It looks that way. But adaydream has a point. Tuition may increase more than one would like. Government, in the end, will pick up the tab after ten years for several professions. Let the students borrow.
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skipthesong
Oh, I changed. This is not so good.
"National Review quotes George Mason economics professor Donald J. Boudreaux as saying that this act seems to be “a first step toward federal oversight of the contents of college textbooks.” As proof he points specifically to section C, the publisher requirements section. (C) A description of the substantial content revisions made between the current edition of the college textbook or supplemental material and the previous edition, if any."
This bill was originally signed in 2008 by President Bush and was introduced by Illinois Senator Dick Durbin. It took effect this year during Obama’s presidency. But regardless of who signed it — and this shows that Bush was as bad as Obama for his love of big government — it is a bad idea to allow the federal government to get involved in the production of text books."
So, they are going to setup a group to REVIEW books?
Oh, and the middle class are exempt from this.
0
hworta269
The tuition thing is about the government controlling all American universities as if the liberal professors were brainwashing enough people for the big government people as it is.
This healthcare bondongle is about spending 3 trillion dollars to give healthcare to what 12 million Americans who wanted to buy healthcare and couldnt get it. Thats the real number of uninsured Americans.
Obama's 10 year budget forcast is what at least 10 trillion dollars of more debt. I dont think most Americans realize there are not enough dollars in print to pay for this crap and our economy will collapse trying to pay or it all. I think the people in washington would sattle Americans with a 90 percent income tax before reducing spending in any meaningful way. This healthcare bill alone will put millions of more people in unemployment lines and kill American businesses.
How many of you people realise that our government has already spent every single dollar your kids will make in their entire lives? and we realy think we can keep spending like this for ever?
0
goodDonkey
RomeoRamenII at 01:12 PM JST - 31st March
Nice diatribe. I take it you did not go to a liberal arts college. Or just maybe you don't think people should advance in education at all.
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goodDonkey
hworta269 at 12:57 AM JST - 1st April
You are only proving how unaware you are of the issues. The banks were not taking the risk of the loan; the U.S. Government was. If banks are not taking the risk they should not collect the interest. It is that simple. There was also a modest increase in Pell Grant assistance in the law (we should put a lot more money into encouraging more students to further their education). Not only will the government not be controlling the private universities. They will not be controlling state universities either. You obviously don't have a grasp on the facts.
Both your numbers are so far off that any correction would be hopeless. I can post facts all day long but as the saying goes, you can lead a horse to water but you can't make them drink.
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