Obama Admits Failure of Student Loan Takeover in Obamacare
During this past weekend’s address by the President, Barack Obama decided to create a fake issue about Republicans wanting university student loan interest rates to rise. But while he doesn’t mention it, this is a failure created by Obama and his party.
In the address, Obama said the following:
In America, higher education cannot be a luxury. It’s an economic imperative that every family must be able to afford. That’s why next week I’ll be visiting colleges across the country, talking to students about how we can make higher education more affordable – and what’s at stake right now if Congress doesn’t do something about it. You see, if Congress doesn’t act, on July 1st interest rates on some student loans will double. Nearly seven and half million students will end up owing more on their loan payments. That would be a tremendous blow. And it’s completely preventable.
Two years ago, Obamacare was passed. As part of the unconstitutional monstrosity, the Democrats introduced a nationalization of the college student loan program which was used to boost the phony revenues the federal government will supposedly realize through Obamacare; in other words, it was a gimmick to make it look like Obamacare would reduce the deficit (long since debunked). (There’s more; read this 2010 piece by Tim Carney.)
So it isn’t as if Obama and the Democrat hacks that passed Obamacare couldn’t have figured out what was coming (had they read the bill, that is), this rise in interest rates this July. Heck, Obama had a Congress where the majorities in the House and Senate were fellow Democrats, and still nothing was done. And now Obama is “concerned” about these student loan interest rates?
Possibly, Obama might know something we don’t, which could be that the Supreme Court is going to overturn Obamacare in its entirety, which would put the student loan pieces in the round file with the rest of Obamacare. Or maybe he’s guessing the Court might do so and is anticipating how to take political advantage of the situation.
Regardless, Obama is acting much like George Stephanopolous did when he moderated the one debate where he asked about the Republicans’ position on contraception and Griswold. It sure seemed to come out of the blue, just like this student loan interest issue; yet, it is probable that “Little Georgie” received some Obama regime info on the upcoming Obamacare-based HHS contraception mandate.
Even more maddening is Republican Presidential candidate Mitt Romney’s response to all this. Via CBS News:
“There’s one thing I want to mention that I forgot to mention at the very beginning and that was that particularly with the mention of the number of college graduates that can’t find work or that can only find work well beneath their skill level, I fully support the effort to extend the low interest rate on student loans,” Romney said.
He added that there was “some concern” that the low interest rates would expire halfway through the year, and emphasized that “I support extending the temporary relief on interest rates for students as a result of – as a result of student loans, obviously – in part because of the extraordinarily poor conditions in the job market.”
I wasn’t able to find the full video of Romney’s town hall meeting yesterday in Pennsylvania. But to come out in support of Obama’s pitch without mentioning that it was Obama and the Democrats who ignored the rise in student loan interest rates as they wrote into Obamacare the government takeover of the student loan business is negligent.
If the increase in student loan interest rates is a problem, it was caused exclusively by the Democrats, and it needs to be highlighted that way. Romney has been really good at putting the heat on Obama as Obama has tried to do with Romney; but, he can’t afford mistakes like this.
Cross-posted at Scipio the Metalcon.