Once again, the government is taking over what the private sector should be doing. This time it is student loans. The government will now be in total control of lending money for education in this country (except one bank in North Dakota that had to be exempted to buy a vote on health care). I don’t think this administration understands how finance works: Banks get money from depositors (who they pay interest to), and then loan it to borrowers (who pay a higher interest). The government HAS NO MONEY TO LEND! They only have taxpayers to take the money from, which they don’t have to pay back, or they BORROW from other countries, or they print it. None of these is a sustainable business model. There is no incentive to rein in costs, they don’t worry about profit, and they have no competition. I suspect that politics will also be at play- I heard your loan will be forgiven if you work for a social cause instead of working for paycheck- but I suspect not all social causes are equa
l. Working for Acorn or NARAL will be accepted, working for a pro-life non-profit organization will not. We have opened up a whole new area of social engineering, all on the benevolent government’s dime. My final point is that this will further erode jobs in the private sector (expect to see banks start laying off loan officers and office staff), while increasing the employment in the government sector (lots of new jobs in the new bureaucracy to add to the 16,000 new IRS jobs for healthcare). Eventually, even Obama will have to realize that we will need SOME private sector jobs to provide money for all that government largess, or maybe he doesn’t care.
This letter is being brought to you through the Organizing for America website, the very definition of astroturfing, complete with talking points and suggestions, as well as broadcast links. All provided by our benevolent leader Obama (PBUH) so you don’t need to bother thinking, and the newspaper editors are too stupid to see they are being played for the useful idiots they are.
Here’s an idea, why don’t you investigate how much support for Obama’s ideas is generated by this and other astroturf websites instead of being actual support? Just because it fits into your pre-concieved notions of how things ought to be, doesn’t mean it’s how things are.