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"..You're about to own $100 billion a year in student loans.


Looks as if they can't steal from retirement funds, stocks, real estate devaluation then they're going to end up implementing an 80% tax rate when the dust settles to pay for it all.


"The Quietest Trillion
Congratulations. You're about to own $100 billion a year in student loans.
Source online.WSJ.com

"The furor over President Obama's trillion-dollar restructuring of American health care has left his other trillion-dollar plan starved for attention. That's how much the federal balance sheet will expand over the next decade if Mr. Obama can convince Congress to approve his pending takeover of the student-loan market.

The Obama plan calls for the U.S. Department of Education to move from its current 20% share of the student-loan origination market to 80% on July 1, 2010, when private lenders will be barred from making government-guaranteed loans. The remaining 20% of the market that is now completely private will likely shrink further as lenders try to comply with regulations Congress created last year. Starting next summer, taxpayers will have to put up roughly $100 billion per year to lend to students. ......."

Entry #1,400


JAP69Comment by JAP69 - September 14, 2009, 8:11 am
The shift of power to socialism. He barely leaves enough free enterprise in what he is taking over to cover his march to socialism. Free enterprise will not be able to compete and will quickly fade out of sight.
konaneComment by konane - September 14, 2009, 8:49 am
Thanks JAP!!! Now his latest move is to take over the banking system now that he's fried, dried and laid it on the side. Wonder how long the Amero is going to take to replace the dollar.

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