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December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Oct 28, 2011 / 30 Tishrei, 5772

Obama's Illusory Student Loan Scheme

By David Limbaugh




http://www.JewishWorldReview.com | With his latest pseudo-compassionate expansion of the student loan program, President Obama reminds us why we ask whether he is simply unable to learn from history or he is indifferent to government waste incurred in pursuit of "good intentions."

Back when Obama was trolling for illusory savings to manipulate Congressional Budget Office scorekeepers into decreeing that Obamacare would be revenue-neutral, he proposed the ingenious scheme whereby the federal government would subsume 100 percent of the student loan industry and eliminate evil private-sector profits going to "middlemen."

The plan was a smorgasbord for big-government enthusiasts because it envisioned whacking private business, legislative trickery and growing the government in numerous ways. It wouldn't just allow the government to seize financial business in grand fascist style; it also gave Obama an excuse to expand the existing loan program.

By calculating $60 billion in savings over the next decade, Obama gleefully inflated student loans by $40 billion and boasted that he still had $20 billion left over to count toward reconciling the balance sheet on his grossly over-budgeted national health care bill.

Obama smuggled this student loan legislation into the Obamacare bill because it probably never would have otherwise attracted the 60 needed votes to pass on its own. Such relatively small-potatoes legislation, by itself, wouldn't have supported the bribes Obama used to cram through Obamacare.

One such Obamacare bribe, included in the student loan section of the bill, was a hidden payoff to North Dakota Democrat Kent Conrad, chairman of the Senate Budget Committee. The bill established, in the words of the CBO, "a new program for lenders who were chartered before July 1, 2009, and are owned by a state under the control of a board including the governor and offered guaranteed loans prior to June 30, 2010." This was crafted to apply to just one lender: the Bank of North Dakota. So much for open, honest government.

If all this weren't offensive enough, the Obama administration initiated the process to transition toward the new student loan program some six months before the bill passed. Education Secretary Arne Duncan sent letters pressuring colleges and universities to prepare for the transition, even though many were reluctant and had chosen private lenders over the government option for a reason.

Fast-forward to the present and Obama, by executive fiat, is finessing a regulatory end run around Congress to allow student debtors to refinance and consolidate loans on more favorable terms, capping student loan repayment rates at 10 percent of the portion of a debtor's income that goes above the poverty line, and limiting the life of a loan to 20 years.

You don't need to be a math wizard to understand that this is just a slick way of forcing taxpayers to take a bigger hit by increasing the number of loans that will never be fully repaid, yet another redistribution of wealth from our Marxist in chief. Nor do you need to be a clinical psychologist to grasp that our government is teaching young adults how to be financially irresponsible with impunity.

Never worried about long-term consequences, Obama is either oblivious to (highly unlikely) or unconcerned with the likelihood that his actions will contribute to the expansion of a growing college debt bubble that economists warn could be analogous to the financial collapse-inducing housing bubble. Just as with the housing bubble, these unrealistically priced loans artificially increase the amount of money being spent on education, which will result in universities raising their prices. Research by Richard Vedder shows there is a direct correlation between increasing student "aid" and increased college tuition costs.

Guess who will be hit the hardest? The middle class Obama purports to care so much about, who will have to pay more for school and, in some cases, enter the student loan program themselves, further driving up costs.

Adding insult to injury, Obama tells us that we should be grateful for his magnanimity. Students not only are getting free money but also, with their refinanced loans, will have extra gazillions to spend and stimulate the economy he claims is being held back by obstructionist Republican congressmen for partisan purposes.

But guess how much extra dough Obama's largesse will generate for the average student borrower? If you guessed $9 per month, you overestimated by a dollar. As HotAir's Ed Morrissey points out, Obama's Making Work Pay tax cut added about $8 per week to the paychecks of all workers in the U.S. for more than 2 1/2 years, which hardly stimulated anything.

Almost everything about this plan is wrongheaded and destructive, but Obama expects props for caring for these students. Well, I'm all for passing the love around, but wouldn't it be nice if he heaped some of it on the United States of America?


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David Limbaugh, a columnist and attorney practicing in Cape Girardeau, Mo. Comment by clicking here.

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