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Obama Offers New Student Loan Rules

October 28, 2011 by  

Obama Offers New Student Loan Rules

President Barack Obama has given credence to one of the issues most espoused by young Occupy Wall Street protesters: Student loan debts are crippling recent college graduates who are unable to find jobs.

In the United States, student loans are the second largest source of household debt. Obama has offered a plan that he says will ease that burden and free up money for first-time homebuyers and other consumer spending.

The President’s plan will speed up a measure passed by Congress that reduces the maximum required payment on student loans from 15 percent of discretionary income annually to 10 percent. It will go into effect in 2012, instead of 2014. The White House also says the remaining debts will be forgiven after 20 years, instead of 25, according to MSNBC.

In addition to the student loan plan, the Administration is partnering with the Small Business Administration to offer specific programs that will promote young entrepreneurship. The Student Start Up Plan offers recent graduates options to defer student loans and provides informational material for young, business-minded individuals.

Many Republicans are opposed to Obama’s plan, saying deferment will result in financial strain on lenders and poorer service to borrowers.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • http://PersonalLiberty Edward

    I paid my own way through college and not a rich boy. Pay off your debts and don’t let the Gov’t feed you with a baby bottle. It takes hard work and cutting your own expenses to get what you want. It is called sacrifice. No cry babies allowed here. If you don’t succeed try other alternatives. A lot of people have succeeded with out a college education. Rush Limbaugh for one never went to college. He is a millionaire today. Everyone is going to succeed in some way. Your life has already been planned out for you. Get off the potato couch and get going. Stay away from protestors. Bad idea. Think with your head and not your feet. Think about it and YOU WILL SUCCEED.

    • http://moses.vemma.com Dragon

      I couldn’t afford to pay for all of my college education, even by working. So, as a veteran, I applied for govt backed grants and loans; to pay for what I didn’t have job skills to earn.
      Now I wonder when the write off for old Dept of Ed loans becomes effective, as I have loans which are over 30 years old, and I can’t get relief; even though I have paid, or had my taxes go for these loans.
      Think on it: 30 years of owing money to the Dept of Ed, and losing tax refunds for 20 years, (which total in the neighborhood of $250,000.00), and those loans still are paid off? And then they get written off after 25 years? Who is Uncle Sammy trying to kid here!

  • Jessica

    5 kids in college at the same time. They had student loans, worked part time in college…..and they all paid off their loans! All have good jobs now, working 12-14 hrs. a day.

    • s c

      Good for you, and good for your kids, Jessica. Did you ever wonder about the whys and whatifs of ‘higher’ education? Obummer is buying votes AND he’s transferring America’s wealth to instructors and other assorted riffraff at colleges and universities across America.
      Those schools get untold billions of dollars to invest TAX FREE at our expense. Those student loans pay for their retirement. This buys those schools generations of “friends.” It indebts the American people, and people like Obummer have been able to get away with it.
      Change, my rump. Hope, my arse. Character, blah. Obummer is a thief, a liar and a con artist who hasn’t yet been recognized as such. He “cares.” HA! See him for who and what he is, America, or we might as well put on our chains of slavery.

      • granny mae

        s c, I can agree with you about Obummer for sure ! But I don’t understand something and maybe you can clear it up for me. Why are student loans so hard to pay off? One of my son’s is still paying on his and it has been years! What is up with that? Maybe it would have been better for him to have just gotten a home equity loan or something. He borrowed enough to get a Batchelors in electronics. I just don’t get what the problem is for them ! Explain if you can please !

        • granny mae

          By the way, my son got hired within a week of graduating , and has a very good job. He aced their exams for hireing and they told him they never had anyone do that before ! I’m just wondering if he isn’t paying his bills like he should or what is going on !

          • granny mae

            I might also add that he, my son, has hels a job since he was 15, and while he was going to school he held three jobs, a full time job, and two part time jobs and was married and taking care of business, so I have a hard time thinking that he just isn’t making the payments on it !

          • granny mae

            He also graduated with top honors ! To this day I don’t know how he did it !

        • JUKEBOX

          Has anyone ever wondered how a poor mulatto from Kenya/ Hawaii/Kansas, or wherever got the money to go to Occidental, Columbia, Harvard, and travel all over the world, then magically get elected to the U.S. Senate, then the Presidency, and then all of his loans and his wife’s loans were paid, and they are multi millionaires.

    • bob wire

      “.and they all paid off their loans! All have good jobs now, working 12-14 hrs. a day.”

      I if they hadn’t found these good jobs, then what?

      • Don

        Then they would probably be like you, living in moms basement, you are so negative bob wire !!

      • Rungsat

        Bob,
        That thinking is the problem with 50% this country today. Your glass is half empty thinking. What “if”. Most young people today don’t even go out and look for work, because their parents will not cut the cord. Jessica my hat goes off to you. Good job. College or not, there is opportunity out there for all Americans. Get off your ass, stop looking a job at the top of the ladder and plan on working your way up the ladder like everyone else and stop making excuses.

        • CJM

          Haate to burst your bubble, rungsat, but if those jobs really were as plentiful as you think, we would not have a 20%+ unemployment rate. Many jobs are now in foreign countries through out-sourcing or corporations moving our industries to Mexico, China, and elsewhere because of the cheap labor–which translates to deeper pockets for the CEOs. Want a hershey bar? They are now made in Mexico. Want a new ford? They will be shipped to us from China. Clothing? Try Taiwan, Korea, China, etc…even India has a corner on the market. If you don’t think these industrial moves has no bearing on our job-market disaster, you need to pull your head out of the sand for a breath of air!

          • jetstream

            So, you think maybe there’s merit in providing a more friendly business climate by eliminating exorbitant, job-killing taxes and regulations on businesses?

    • http://Windows7 Ellen

      Great Post. I have three adult children all of whom are now successful small business owners. All have a past with paper routes, lawn mowing, etc. All worked as soon as something was there in their pre-teens and teens. One attended a military academy. He refused to take money from his father and me, but rather found week-end jobs — lawn mowing, snow clearings, waiters at social funtions, etc. Am proud of all.

  • http://cox mark fleming

    some people will just out & out lie as we see from what Obama says, its no way the government will forgive your debts for school when so many people in this country owes so much money, he lies to us everytime he opens his mouth.

    • texastwin827

      Mark, since when has Obama done anything that isn’t a detriment to our economy? Right now, he’s looking for votes…nothing more. It doesn’t matter to him, what kind of programs he comes up with that damage or increase our deficit.

    • Carol

      My brother applied for a $5000 student loan in 1986 which was supposedly under the GI Bill. It was done through Bank of America. He was informed that he had been denied. In 1996 he was told he owed over $13,000 for failing to pay back the loan he had been denied. He has not gotten an income tax refund since then. It has all been taken for the loan he was denied. He had to pay for the schooling he didn’t even get out of his own pocket. Most of the time the instructors didn’t show up. This was WarrenDickenson College which up until then had been an accredited college. He tried to find them to ask them why they told him he hadn’t been granted the loan and they no longer existed. For the last 6 years they have been taking $100 a month from his checking account. He has had over $15,000 taken from him and just received a notice that the loan was sold to Duetsche Bank and that he still owes more than the original $5000 which he didn’t even get. Also, no lawyer will touch this.

      • CJM

        It’s called fraud, Carol, and the FBI DOES investigate situations like your brother’s. Did he ever file a formal complaint? The IRS isn’t interested in finding out the facts; they just collect the money based on what the school told them. I attended a business school a few years back and they apparently were pulling the same thing using both government grants and VA educational loans. We were in class when all of a sudden the place was swarming with agents…after telling us to leave, they continued their raid. To make a long story short, those folks are out of business. Yes, we were able to continue our educational plan because the officials did make sure of that. We were the last ‘graduating’ class for that particular school—but the school CEOs spent a lengthier time in their assigned cells.

        • Carol J

          He filed a formal complaint and asked for a photostatic copy of the check showing his signature. Needless to say, nothing came of it.

  • Bill E. Oglesby

    Anyone that believes that this idiot that calls himself President is doing anything but destroying our Nation and attempting to gather votes from the students, belongs in the same catagory as he. If these students “borrowed” money, they should have to pay it all back. I did and was glad to have had the opportunity to do so. Was it easy, no, but I manned up and did the right thing.

    obama would have these young men & women believe that the Federal Government should be their nannies. Remember, the Government that is big enough to give you everything is big enough to take it all away.

  • texastwin827

    My middle & youngest daughter BOTH have worked (fulltime) and paid for their own college education. The middle daughter used student loans to finance much of her education…and she made payments on those loans, the ENTIRE time she was getting her degree. Did she have a 4.0 gpa…No, because she worked full time AND had a husband & two children to care for (her gpa was in the 3′s instead of a glorious 4.0).

    The youngest daughter has NO student loans. She also has worked full time and paid her own way. Fortunately, for her, she does not have a family to take care of, so her gpa IS a 4.0.

    Does it take longer to go that route…sure it does. Does it take longer to go that route, sure it does. However, it’s not stopped either from making good wages (they both have very high “work ethics”) so I know, it can be done.

    The majority of those who have taken loans out have done so, knowing they would come due, at some point. Instead of working while going to college, they chose not to. Regardless of whether it was because they were “lazy” or because they wanted to be able to have a high gpa, they had the old option of “paying as you go”.

    Now, like their college years, they apparently feel that they should be supported, once again, this time by the taxpayer instead of their parents.

    Apparently, Obama is so desperate to win his second term, that there is no limit to all the “new” things he is going to introduce to entice voters, even if it is to the detriment of the country.

  • texastwin827

    sorry for the duplicate sentence…am only on my 2nd cup of coffee, this morning, so my brain isn’t fully awake, yet.

  • Patriot II

    This whole Problem would clear up and blow away if we started hiring People for their abilities not JUST their Degrees.

    Guess What? Higher Education is Big Business that has extorted this money from them through being in Bed with Big Government turning Higher education into a right rather than a priveleage.

    Remember when we said in this country “I worked hard to put my Kids through College” Well now they can’t do that anymore because the cost are to High, due to the “Over-Valuing of the “Degree”" I refer to it at the “Higher Education Kindom”

    While we are at it, we need to be able to fire ineffective Union workers especially in the Teachers Unions! Michelle Rhee! you are one of my heros!

  • Dntmkmecmoverther

    Hmmm. Let’s see…Obama raises his middle finger in disdain of congress, the senate and we the people…in essence saying:
    “Screw laws”
    “Screw due process”
    “Screw legislative process”
    “Screw the average tax payer”
    “Screw the economy”
    “Screw the future of the USA”

    What a wonderful example of supreme treachery and stupidity. How much longer must we endure such skullduggery?

  • TeaParty Patriot (TPP)

    If the 0′bomb really wanted to do something about student loans and higher ecucation, he would limit how much colleges could raise expenses to the CPI. Of all the monies sent to colleges in the past 15 years in the form of increased tuition, only 3% has gone to increasing the teaching staff or the improvement of facilities the balance or 97% of the increases have gone to administration costs. Much of which has gone into studies to confirm that the institution is conforming with increasing government regulations.

    • ChristyK

      So you want the president to tell a private business (college) what they can charge? Sounds like socialism. If people had a harder time getting loans and were required to pay them back, they would either work harder or chose college more for it’s true worth (cost-benefit analysis). The colleges who charge too much wouldn’t get students and would lower tuition to entice more students to attend. The government loans/grants are artificially raising the cost of college. Reforming union & tenure laws might help though.

  • Ted Crawford

    If Obama really wanted to help these students, if he were really concerned about the underwater home owners, if he cared even a little bit about the unemployed, he would get off of his very tired “Tax the Rich” mantra and do what is best for all of them and get big government the heck out of the way!

    • eddie47d

      It’s a little thing called a Republican roadblock.

      • Rich

        Right Eddie. It’s the Republicans that are stopping all of Obama’s efforts to reduce the size of government and help businesses be able to operate without government interference. Kind of like what they’re doing to Boeing and Gibson guitars. Sure Eddie; I get it. Oh by the way, go ahead and visit Adventureland when you get tired of Fantasyland.

        • eddie47d

          Take your blinders off and join me.

  • Sandtrap86

    Has it occurred to anyone to ask: Who is left holding the bag when the loans are “forgiven”? Think about it. It’s YOU, the taxpayer. Let’s just pass another disaster on down to the next generation of Congress. Kind of like the one that passed on the housing crisis to THIS Congress. Obama gets the student vote and the Congress of 20 years from now gets to start dealing with the consequences. Anything for a vote. Hmmm. Maybe he IS smarter than I thought!

  • s c

    Opraisme is not only BUYING votes. He’s daring us to put him in his place [OUT of the White House]. Students have a hard choice to make. They can take the easy way out, and screw themselves out of a future. Or, they can take the tougher option, and not get into any degree scheme that doesn’t net you a job that has job security (science, math, health, etc.). Art, social studies, women’s studies and political science applicants need not apply. This is the REAL world, kids.
    Time to step up to the plate and show America what you’ve got, kids.
    Time to put childish things behind you – and that includes the worthless, LYING poser in the White House.

  • Noreaster

    Let`s start at the top and do A trickle down trim. Let`s let the president cut his salary in half and challenge congress to do the same and let congress challenge all the CEOs to do the same and meet the middle class on A little more level playing field. There is entirely too much money at the top.

    • eddie47d

      I’m on board with that.Another thing is that Republicans claim they are far more superior than Democrats in the education field. (that could be true).Yet why haven’t they gotten a handle on this student loan problem or the cost of higher education which has been with us for many years? 8 years of Reagan and 12 years of the Bush’s should have propelled their ideas to the forefront. They should have scrambled for the big fix awhile back instead of waiting for a Democrat Administration. Some say Obama is playing politics and I don’t agree with student loan forgiveness.Yet I hate to inform you he is doing something to tackle the problem while the mostly Republican Presidents and Congress sat on their hands and did nothing.

      • Rungsat

        So, Eddie,
        Join the Tea Party like me and let’s get rid of all the bad apple’s, Dem and Rep, that don’t listen to the people who voted for them.

      • granny mae

        Eddie,
        We have had years of both sides sitting on their hands doing nothing. There is plenty of blame to go around. This is what we get when we allow politicians to become career politicians. They all milk the system and vote in the best for themselves while we sit back and pay for it and re-vote them back in office the next time. This is what happens when we vote party and not for the best man running ! It is way past time to limit their time in office !

  • http://cesarfs.blogspot.com/ Cesar Fernández-Stoll

    Student loans, school/university/college subsidies and every type of government ‘assistance’ control of academia; all are tied together and are one of the most blatant sources of slavery in the current world.
    Academia, because it ‘depends’ on subsidies form the government, not private enterprises or the community as it should be; tends to develop hunger for more cash, and so it allows groups of power like sodomites, Marxists as well as many other groups, of government choosing, to infiltrate and in this way confuse the minds of children, polluting them with ideas of collectivism and other wrongs exploiting their natural idealism. Of course, students are trapped, because if it is not the assignments, it is the qualifications on those assignments and if not, well, it is their way into their own prosperity which they will find is more politically bound that what they think or refuse to admit. And so, society, impulsed by that other monster of enslavement, the income tax and other many taxes, have impose upon students that extra ideal that says they are not supposed to do what their talents or inclinations or vocations mandate, but that what gives them more money, because after all; “everybody knows the power of the IRS and there is only one truth, death and taxes” and so, it is money what is required not happiness and so, doctors, lawyers, engineers, teachers and even priests, are now not bound by vocation but by what their own self tells them is more ‘profitable’. I have included priests because one of the by products of this paradigm is the fact that people not vocationally motivated to deal with children, tend to abuse them and this too include teachers and every other people out there in position of leadership. And the spiral, because it is not a circle of life but an spiral of destruction, a leviathan, called government control, which keeps growing and growing like the Blob, that movie Steve McQueen starred many years ago and which depicted what a monster that only eats and keeps eating flesh and not flesh is or can be and which us, in the XXI century are only finding.
    Student loans should not be needed and governments should focus only on respect for the law, for the protection of life and freedom.
    Without that intrusion of government in families, women would not feel so ‘liberated’ to choose killing in the name of pleasure, sorry, health(?), right(?), being women(?!) and being the family not so invaded by the government demands, there would not be this obscure pestilent plague called sodomy but solutions to social problems from individuals, family and community up, not form the government down. To cut this ‘process’ from the source, it is imperative to not just reform the taxation system, but to make it so that politicians clearly understand their duties to serve and not be served and so, taxes can only small and of one kind and never altered but by the effort of the people and the mandates of the market.
    Under this premise, taxation to be fair and just, can only be applied to the goods and services people freely chooses to consume on an equal percentage. My idea is 3% without any deductions of any sort. If the poor is capable of buying something, just pay 3% of the value, or otherwise cannot affdord it and if the rich wants to pay an immense amount of cash for anything, pay the 3%. The poor would be paying $0.03 for a dollar while the rich would be paying $30,000 for a million. With no deduction, and in consideration of the economic cycle, perhaps the true tax would be in the order of 12% to 15% altogether on average.
    The best part is that government will have this and nothing but this to work with and so it will be forced to downsize to its minimum or is it maximum, productive level and everything excessive, will not be affordable.
    Another last point is that finances, would be much more manageable for the people, because of the influx of cash, credit would need to be applied only as required and not to cover what the government with its taxes don’t let you. Of course small businesses would flourish as the people will not have to just through credit on them but actual cash.
    The morality is not in being able to pay for credit, but on wanting and committing to do it and it works for both sides, the lender, giving to the ones that can pay, and the recipient.

  • Mike

    The one question nobody ever asks is why is higher education so expensive in the first place? I graduated from a Catholic university 37 years ago & four years cost me about $13,000! One year at the same institution is going to set you back about $30,000+. I realize technology & new construction has created some expense but the overall costs are now out of control. In the early 70′s I found a great summer job at a Coca Cola bottling plant paying good wages, worked overtime & had a second job on weekends, too. These positions paid for all of my tuition, living expenses & books. Also, I had a partime campus job during the academic year. I actually began saving money, too. Those days are gone & when I hear of college graduates with upper five figure oustanding loans another question comes to mind, was it worth it? We all know of the art history major waiting tables, the newly minted M.B.A. who has sent out 100′s of resumes with no response & the recent graduate with the teaching degree who sees members of that profession being laid off because of budget cuts. Then on the other hand, try getting a plumber on Saturday, your antique clock fixed & working like it was new again or your grandmother’s armoire restored to its original lustre. Good luck!
    In retrospect, we really might want to question the overall value of higher education & ask, is it really worth it? Yes, we need engineers, physical scientists & health care professionals but do we really have a need for more sociologists, classicists or even lawyers?

    • Patriot II

      Mike:

      We agree alot, (read my Post) I refer to it as the “Higher Edcuation Kingdom”

      • Mike

        Your right Patriot! Education is now a racket! It’s my understanding that our total outlay (taxes) for this montrosity is close to 400 billion dollars a year. That’s enough money to literally re-industrialize the U.S. economy so we don’t have to buy foreign cars, clothes, computers, etc. The way I remember it was in the late 50s!

        • granny mae

          I couldn’t believe it when one of my grandsons and one of my granddaughters, enroled in community college for two semesters and both of them had to take BS classes like one had to take bowling and the other had to take a ceramics class. I say had , because they were given a choice of two or three classes in that type of thing. Now you tell me what that can do for a higher education ? Disgusting !

    • eddie47d

      Thanks Mike for you spelled it out rather well. I respect a good knowledgeable auto mechanic or even a contractor who does the job right. Higher education is important but it’s not for everyone and the costs are out of this world.Maybe there are too many professors fleecing colleges and the public without measurable results.

      • Mike

        Thanks Eddie! My grandfather was a plumber & landlord. Lived to be 90 years old, fought in World War One & was working well into his 80′s. He went to trade school in 1910 but had a great grammar school education. He made a good living & invested his money in real estate.
        What’s amazing is the numerous times he had to defend himself in court without legal counsel & actually won!
        It was men like him who made this country great.

  • death to non believers

    i want to get a few student loans. my question is do i actually have to attend a real school ? does home schooling myself qualify ? my home school tuition would only be $47,345.00 a semester, with a ba when i graduate. that is a good deal mr US government.

    student loans are the same principal as the company stores. an individual will owe so much cash to our govt, there lives will be controlled by our govt. fannie mae and mac control 100% of student loans. the availability of student loans and pell grants are a major reason school tuition is outrageously high. government, mind your own business.

    • Patriot II

      death: I have 2 questions for you….

      1. you want Death to non believers,…non believers in what?

      2. Are you really someone looking to go to school or was this a Hypothetical question you had?……………

  • FTrask

    IThe GI Bills of WW II and the Korean War were great for educating us. It would seem that a lot of these whiners should go into the service now and get the current government offers for education. And, wouldn’t the service straighten a lot of them out?

  • Jeffrey A. Williams

    This plan of this administration is doomed to failure down the road sooner or later and likely sooner. Student loans especially are not the way to finance an education for young people that are financially disadvantaged due to no fault of their own. Rather a grant program for any and all want to be students is a better way to go as the long term benefits out way the short term detriments given that there is a greater chance of these students educating their way into the middle class over time which will be a give back to the overall economy and thereby replacing those education dollars back into the economy. Secondly, it would be beneficial if corporations would set aside some portion greater than currently and with less restrictions for education grant dollars for education purposes as it would also be for State governments. Thirdly, disallowing either education loans or grants for non-US citizens would reduce the burden of availability for education dollars available to US citizens regardless of age of circumstance.

  • From AK

    I don’t get it. So we are telling the younger generation that it’s ok to borrow as much as you want for college. If you can’t pay it off in 20 years, the taxpayers will do it for you. By reducing the payments it just makes it harder to pay the principle down. It took me 20+ years to pay off my college loans but I never dreamed that it was the governments responsibility to do it for me. What is happening to our country.

    • bob wire

      What happened? ~ I would think that you might know by now.

      While it is temporary, the GOP is expecting Americans to vote their pocket book 2012 and done everything they can to render the Fed dysfunction and inert in difficult economic times brought on by 30 years of special interest running the nation by proxy of elected officials.

      I would think most understand this by now.

      Now, if you wish to blame students and their families or the President for throwing them a life-line ~ you certainly can.

      Or you can blame homeower’s for buying houses at inflated prices. Or Acorn, ~and it’s dealing or Barney or the sitting president.

      But don’t blame Wall Street for mislabeling and over valuing products and selling them world wide. Don’t blame banks ! They were forced to give lend money to buy these inflated value homes!

      Blame stupid children and stupid home owners ~ blame liberals

  • william lee

    no matter how much your student loan is, anyway you figure it,the student will pay back less then half of what he owes and the taxpayers will end up paying the rest under this program.

    • Don

      Hopefully the student will become a tax payer !

      • bob wire

        Right Don! they will! It’s all but guaranteed and for certain. They will be tax payers.

        As I businessman, ~ you know ~ I don’t expect to make a profit on every transaction that I make. But I accept this and realize I have a customer base that I protect and they feed me. I win some and I lose some. I know that I must apply myself the whole year. ~ My labor and efforts I do not count. ~ for if I did, it would be most discouraging at times.

        I’m left to look at it as a years committed and engaged.

        • granny mae

          I have a good one for you! I know of a gal that has been in college for the past 16 years and this year had earned her doctoret in forensics, but all she had to do was complete her last two days and it was all over. She passed her tests but has refused to complete her final few days to graduate ! Her professors are dumb founded ! They never heard of such a thing before. I’m wondering if it has anything to do with her having to pay back her student loans? Something is fishy here !

  • bob wire

    We have encouraged young people to stay in school and get a good education for many years now. We have convinced families that higher education was a good investment in ones time and money, that the average degree’ed person made 1 million dollars more then a non-degree’ed over the period of a working career. If one held strong aspirations to aspire at degree with essential.

    So today, we see the results this mindset and desire as we have a bumper crop of young degreed people attempting to enter the market place.

    That families and banks and institutions of learning have made this possible by their commitment and investment, we should be proud.

    These finical commitments was predicated on the notion that a opportunity for employment would exist 4 to 6 years into the future.

    That these expected opportunities are no available in large enough numbers to employ the demand for jobs today is disappointing BuT temporary and this condition and state of affairs will someday pass.

    In the meantime, the bill is in the mail box demanding payment. This places great stress on students and families as well as lending institutions.

    Now you can fault the President for his direct approach in addressing this if you wish. If you are not sharing any of these current hardships it easy enough to do.

    Booze has never solved anyone’s problems but neither has milk. So this attempt to replace one set of events with another in some attempt to justify you thinking process is flawed.

    Leadership is to guide and direct as the road in front of us dictated. As far too often we see the road conditions are ever changing. Too fast, too slow, too much “left, too much “right” will put us in the ditch.

    These are delicate times for some people today but they will pass. If you want to call this a buying votes, ~ fine. He is buying votes. He is addressing the needs of some voters found in great need.

    At the same time, you and I know that he is selling off votes if you don’t believe the time and effort well spent and for the betterment of Americans.

    Our children is our future.

    Excuse me, while I go change my 86 years father’s diaper and empty his urine bag.

    • Mike

      Sorry to hear about your dad, Bob! My 84 year old father still works, overtime & Saturdays, to boot!

      • bob wire

        I’m proud for both you and your father Mike. You offer fine testimony of what is possible. Being aged need not be a curse. My father is (or was)the last man standing from a group of some 1000 until 2 months ago, having buried all his friends and co workers many years ago.

        Things can change rather quickly, I’m finding out. Dad’s
        heart beat shakes the bed and is the strongest thing he’s got working for him. It’s all the rest that is falling apart.

        In any case, investing in the youth of America is a solid investment and offers great dividends. For it is true, you pay for your raising.

        Pay it now or pay it later, but you will pay.

  • http://amendment10.tripod.com Michael Lewis

    ” ‘Well, my friend; I may as well own up. You have got me there. But certainly nobody will complain that a great and rich country like ours should give the insignificant sum of $20,000 to relieve its suffering women and children, particularly with a full and overflowing Treasury, and I am sure, if you had been there, you would have done just as I did.’

    ” ‘It is not the amount, Colonel, that I complain of; it is the principle. In the first place, the government ought to have in the Treasury no more than enough for its legitimate purposes. But that has nothing with the question. The power of collecting and disbursing money at pleasure is the most dangerous power that can be entrusted to man, particularly under our system of collecting revenue by a tariff, which reaches every man in the country, no matter how poor he may be, and the poorer he is the more he pays in proportion to his means. What is worse, it presses upon him without his knowledge where the weight centers, for there is not a man in the United States who can ever guess how much he pays to the government. So you see, that while you are contributing to relieve one, you are drawing it from thousands who are even worse off than he. If you had the right to give anything, the amount was simply a matter of discretion with you, and you had as much right to give $20,000,000 as $20,000. If you have the right to give to one, you have the right to give to all; and, as the Constitution neither defines charity nor stipulates the amount, you are at liberty to give to any and everything which you may believe, or profess to believe, is a charity, and to any amount you may think proper. You will very easily perceive what a wide door this would open for fraud and corruption and favoritism, on the one hand, and for robbing the people on the other. ‘No, Colonel, Congress has no right to give charity. Individual members may give as much of their own money as they please, but they have no right to touch a dollar of the public money for that purpose. If twice as many houses had been burned in this county as in Georgetown, neither you nor any other member of Congress would have thought of appropriating a dollar for our relief. There are about two hundred and forty members of Congress. If they had shown their sympathy for the sufferers by contributing each one week’s pay, it would have made over $13,000. There are plenty of wealthy men in and around Washington who could have given $20,000 without depriving themselves of even a luxury of life.’ “The congressmen chose to keep their own money, which, if reports be true, some of them spend not very creditably; and the people about Washington, no doubt, applauded you for relieving them from the necessity of giving by giving what was not yours to give. The people have delegated to Congress, by the Constitution, the power to do certain things. To do these, it is authorized to collect and pay moneys, and for nothing else. Everything beyond this is usurpation, and a violation of the Constitution.’

    ” ‘So you see, Colonel, you have violated the Constitution in what I consider a vital point. It is a precedent fraught with danger to the country, for when Congress once begins to stretch its power beyond the limits of the Constitution, there is no limit to it, and no security for the people. I have no doubt you acted honestly, but that does not make it any better, except as far as you are personally concerned, and you see that I cannot vote for you.’

    “I tell you I felt streaked. I saw if I should have opposition, and this man should go to talking, he would set others to talking, and in that district I was a gone fawn-skin. I could not answer him, and the fact is, I was so fully convinced that he was right, I did not want to. But I must satisfy him, and I said to him:

    ” ‘Well, my friend, you hit the nail upon the head when you said I had not sense enough to understand the Constitution. I intended to be guided by it, and thought I had studied it fully. I have heard many speeches in Congress about the powers of Congress, but what you have said here at your plow has got more hard, sound sense in it than all the fine speeches I ever heard. If I had ever taken the view of it that you have, I would have put my head into the fire before I would have given that vote; and if you will forgive me and vote for me again, if I ever vote for another unconstitutional law I wish I may be shot.’

    “He laughingly replied; ‘Yes, Colonel, you have sworn to that once before, but I will trust you again upon one condition. You say that you are convinced that your vote was wrong. Your acknowledgment of it will do more good than beating you for it. If, as you go around the district, you will tell people about this vote, and that you are satisfied it was wrong, I will not only vote for you, but will do what I can to keep down opposition, and, perhaps, I may exert some little influence in that way.’

    ” ‘If I don’t’, said I, ‘I wish I may be shot; and to convince you that I am in earnest in what I say I will come back this way in a week or ten days, and if you will get up a gathering of the people, I will make a speech to them. Get up a barbecue, and I will pay for it.’

    ” ‘No, Colonel, we are not rich people in this section, but we have plenty of provisions to contribute for a barbecue, and some to spare for those who have none. The push of crops will be over in a few days, and we can then afford a day for a barbecue. This is Thursday; I will see to getting it up on Saturday week. Come to my house on Friday, and we will go together, and I promise you a very respectable crowd to see and hear you.’

    ” ‘Well, I will be here. But one thing more before I say good-bye. I must know your name.’

    ” ‘My name is Bunce.’

    ” ‘Not Horatio Bunce?’

    ” ‘Yes.’

    ” ‘Well, Mr. Bunce, I never saw you before, though you say you have seen me, but I know you very well. I am glad I have met you, and very proud that I may hope to have you for my friend.’

    “It was one of the luckiest hits of my life that I met him. He mingled but little with the public, but was widely known for his remarkable intelligence and incorruptible integrity, and for a heart brimful and running over with kindness and benevolence, which showed themselves not only in words but in acts. He was the oracle of the whole country around him, and his fame had extended far beyond the circle of his immediate acquaintance. Though I had never met him, before, I had heard much of him, and but for this meeting it is very likely I should have had opposition, and had been beaten. One thing is very certain, no man could now stand up in that district under such a vote.

    “At the appointed time I was at his house, having told our conversation to every crowd I had met, and to every man I stayed all night with, and I found that it gave the people an interest and a confidence in me stronger than I had ever seen manifested before.

    “Though I was considerably fatigued when I reached his house, and, under ordinary circumstances, should have gone early to bed, I kept him up until midnight, talking about the principles and affairs of government, and got more real, true knowledge of them than I had got all my life before.

    “I have known and seen much of him since, for I respect him – no, that is not the word – I reverence and love him more than any living man, and I go to see him two or three times every year; and I will tell you, sir, if every one who professes to be a Christian lived and acted and enjoyed it as he does, the religion of Christ would take the world by storm.

    “But to return to my story. The next morning we went to the barbecue, and, to my surprise, found about a thousand men there. I met a good many whom I had not known before, and they and my friend introduced me around until I had got pretty well acquainted – at least, they all knew me.

    “In due time notice was given that I would speak to them. They gathered up around a stand that had been erected. I opened my speech by saying:

    ” ‘Fellow-citizens – I present myself before you today feeling like a new man. My eyes have lately been opened to truths which ignorance or prejudice, or both, had heretofore hidden from my view. I feel that I can today offer you the ability to render you more valuable service than I have ever been able to render before. I am here today more for the purpose of acknowledging my error than to seek your votes. That I should make this acknowledgment is due to myself as well as to you. Whether you will vote for me is a matter for your consideration only.’”

    “I went on to tell them about the fire and my vote for the appropriation and then told them why I was satisfied it was wrong. I closed by saying:

    ” ‘And now, fellow-citizens, it remains only for me to tell you that the most of the speech you have listened to with so much interest was simply a repetition of the arguments by which your neighbor, Mr. Bunce, convinced me of my error.

    ” ‘It is the best speech I ever made in my life, but he is entitled to the
    credit for it. And now I hope he is satisfied with his convert and that he will get up here and tell you so.’

    “He came upon the stand and said:

    ” ‘Fellow-citizens – It affords me great pleasure to comply with the request of Colonel Crockett. I have always considered him a thoroughly honest man, and I am satisfied that he will faithfully perform all that he has promised you today.’

    “He went down, and there went up from that crowd such a shout for Davy Crockett as his name never called forth before.’

    “I am not much given to tears, but I was taken with a choking then and felt some big drops rolling down my cheeks. And I tell you now that the remembrance of those few words spoken by such a man, and the honest, hearty shout they produced, is worth more to me than all the honors I have received and all the reputation I have ever made, or ever shall make, as a member of Congress.’

    “Now, sir,” concluded Crockett, “you know why I made that speech yesterday.

    “There is one thing now to which I will call your attention. You remember that I proposed to give a week’s pay. There are in that House many very wealthy men – men who think nothing of spending a week’s pay, or a dozen of them, for a dinner or a wine party when they have something to accomplish by it. Some of those same men made beautiful speeches upon the great debt of gratitude which the country owed the deceased–a debt which could not be paid by money–and the insignificance and worthlessness of money, particularly so insignificant a sum as $10,000, when weighed against the honor of the nation. Yet not one of them responded to my proposition. Money with them is nothing but trash when it is to come out of the people. But it is the one great thing for which most of them are striving, and many of them sacrifice honor, integrity, and justice to obtain it.”

  • http://personalliberty.com Tracie

    My husband and I have raised four children. Our youngest will be 20 in a week. She is not in college yet. Our first three went to college, although our oldest daughter floundered and dropped out, her choice. She DOES have two jobs to pay back her student loans,and other bills. Our second daughter went to Jr. college, had 3 jobs AND was planning her wedding…she graduated with a BS degree, and owed nothing to the school due to scholarships and grants she received for high grades, she has been married now for 4 years, and is working in an Optometrists office, 8 hrs. a day/ 5 days a week. Our son, went to trade school on a 2 year scholarship in welding, due to the fact that he was the top welder in his high school, graduated with a diploma and a certification in welding. He owed the school nothing. Our youngest wants to go to cosmetology school…This just proves, IT CAN BE DONE!!! You CAN have a job AND go to school, pay off your debts or at least the majority of them while in school.
    Obama is just doing this to get the college votes…they have NO idea how this is going to affect THEM and their CHILDREN in the future. SICKENING!!!!

  • 4-just_us

    It’s the same old crap politicians have played forever. I’ll give you this if you vote for me. I think the president’s of late have been giving themselves some legislative powers.

  • bob wire

    You know economics has many dimensions to it. ~ part of that dimension is regional.

    There is regions of our great nation where the sun rarely shines and the rain rarely falls, while one area might be seeking flood relief while another undergoing water rationing and restrictions is not uncommon.

    Much like water, money and Job opportunity is not equally shared through out our nation.

    Noise South Carolinian’s would be the first to not understand this “FACT” as federal money has been pouring into their state for so long in such large amounts they have grown quite use to it and consider it very matter of fact and quite normal. They enjoy fair weather that has been fabricated, in spite of drought.

    It’s easy to see how they might have a hard time relating to other areas of the nation harder hit by economic hard times. “WELL, I paid mine! you can pay yours!” “You are just being sorry, no good and lazy!” could be a common cracker response, you might expect to hear.

    That the Federal government has propped the state up for years, they elect to forget or ignore.

    Hey! Yuma Arizona does not need any flood relief funding! but Las Vegas could sure use a little help with flooding and water shedding today. They don’t get a lot of water, but when it comes, ~watch out!

    These are matters of State, of region and they often become matters of the Federal government.

    That governor Dick Perry wanted to declare Texas independence one day and the next, be on hand a knee begging the Federal government for assistance from the CDC was not lost on me.

    That a sitting president has found it necessary to circumvent an inert congress/senate in order to address and affect correction on ‘focused’ issues is indeed unfortunate.

    Needless to say, people that have never supported this president will attempt to make as much political hay of it as possible. ~ It’s given, it’s understandable. Show us your worst. I believe he can endure it.

    When was it ever you ever had a President that did exactly what you wanted of him? When did you ever feel like the President was to pander only your needs and concern while ignoring the needs of others? I don’t remember such a President.

    If addressing needs with the power invested in him is buying vote, then he is buying votes! ~ but is it not clear, your vote has never be for sale to the president. That said, how can you hurt him? By talk bad about him? ~ Ouch! that hurt,

  • JamesD71

    The national pet roach ambles back out into the center of a dimly lit room…again, to spread more fiscal vermin.

  • catfish

    Another idiot proposal in line with all his other errors. When you combine a student loan with a home mortgage, this is what you get, When the foreclosure is complete the student loan has been forgiven. What do you taxpayers think of that?

  • hitthedeck

    Obama is now in the loan sharking business! I guess he gave up the Medicine Man act and now has turned into a Bank loan officer or could he have notions to open up check cashing stores where you can write twenty year post dated checks for cash now. The big savings that experts have said it will save the students will be enough each month for a beer, cheeseburger and fries.

  • Great Grandma

    My Granddaughter and her parents worked hard for long hours so that she could graduate from college without a huge debt hanging over her head. She told me that one day as she was heading out to one of her jobs a roommate picked up her student loan check from the mail and headed out to the mall. Now my Granddaughter who worked really hard to graduate loan free is supposed to pay off those other kids loans? NOT FAIR.

  • Bus

    the whole college loan scam is just a government backed subsidy and as any Econ 101 book will tell you when you add a subsidy then the producer will just raise prices to absorb that extra money. So now it costs $38,000 a year to go to Georgetown or Stanford, why would anyone do that? Go to a state school get the degree, and pay off the $15,000 debt you might accrue. Better yet don’t bother with college unless you are going to study a field that is needed. We don’t need any more English majors flipping burgers or Womyn Studies measures bitching about inequity. Yet as long as the University system can lure in suckers to take these worthless degrees they won’t go away even tho there is no use for the degree in the real world.

  • Roving Richard

    I find it amazing that there is so much discussion on such a simple violation. President Obama is the Executive of the US. HIs function is to oversee the execution of law. When he was a Senator it was his function to propose and vote on law.
    Senator Obama Failed to use his authority as a Senator.
    President Obama is failing as President as he is attempting to exercise the functions of a Senator and avoid the functions as a President.

  • Bill wright

    I made more money ,by not going to college,than if i’id went.It depends alot on a persons ability to work and plan for the future.But If I would’ve chose to go I would have done it under my own power,and to hell with Goverment loans.The Goverment has stick its neck out to far (in my opinion)into peoples lifes .To me this kind of Crap just isn’t right.But i guess some one some got alot of votes,

  • Judith

    The fact that there are no rules in college anymore. Kids can do drugs, drink (suffer the consequences by having to drop out), and the serious students are paying high fees to cover all the damage to Universities that these type of playboys incur, made me not pay my last son’s way through college. Both sons were hands on guys. The older one who graduated with low grades and is dyslexic survives doing labor jobs. The younger son makes a lot more than he working for an oil company. He learned by on job training ( no cost)…so there are other options besides college. $50,000-100,000 debt on loans makes no sense.

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