Wednesday, October 26, 2011

Student Loans, Mortgage Refis, Vet Programs...and not a vote in sight

When the Obama administration decides to do what it will to bypass Congressional efforts to rein in and control the profligate spending the federal government is want to do, it's a simple enough conjecture there will be falsehoods foisted on the American public. Add to that the costs associated with no legislation in place to hold the Oval Office accountable for its actions, i.e., CBO numbers that change repeatedly while harvesting the slip and slide of governing on the fly, and you have a situation that is nearly untenable.

As it stands now, and into the distant future, there is no accounting for the budgeting that is destroying the U.S. economy, all with the intent of making government the de facto employer of the populace, given the proclivities of the Marxist-in-chief. With this week's forays into making the executive branch the policymaker above all -

From James Kvaal, Policy Director,

President Obama isn't waiting on Congress to take action. He's doing everything in his power, right now, to help bolster our economy and get folks back on their feet.
On Monday, he laid out new rules on federal mortgages to help make sure more families don't lose their homes to foreclosure.
On Tuesday, the administration announced two new initiatives to help veterans find work.
Today, it means making changes that make student loans a lot easier to manage. ...

- see also the Obama campaign's overview of the student loan revisions -

Student Loan Reform Can't Wait

- it's important to note these are not the first thrusts, nor the last, into the administration's proposals to make 'all-gov' part of the American lexicon.

The great resistance to this is part of why the body of Congress was formed - the checks and balances play an integral component of the citizens' right to grievance of unjust or untoward advances against liberties that are considered a given in life. I'll not speak to the current 'grievance' we are suffering through, namely, the Occupy Wall Street effort. though it is one to contend with. Even agree with, as Barack Obama clearly does. Instead, with these newest of actions by the White House is the flavor of discontent the administration has for those not allowing him to proceed in any manner he chooses. So be it. What is particularly curious for me as this plays out is Obama's indifference with people that oppose his plans on increasing government power at the expense of the taxpayer, and, ultimately, society as a whole.

Citing the Young America's Foundation response to Obama on the student loans:

Cutting and consolidating student loan debt is worthless action if the targeted borrowers don’t have jobs.

and their citing of the Wall Street Journal article addressing the same issue;

Obama to Lay Out Student-Debt Plan

it's obvious the dissatisfaction with Obama's proposals, simply because they don't address the main concerns of people in general who have a heightened sensitivity to government intrusion into their lives. The WSJ article itself points out immediate effects of these instructions by Obama:

Some student lenders are concerned about the White House move to encourage borrowers to refinance their loans because it could cut into their business. Banks and other firms that supply student loans stand to lose assets and likely lose income because of the conversion, said Shelly Repp, president of the National Council of Higher Education Loan Programs, Inc., which represents lenders.

Investors sharply sold off the stocks of some lenders, such as SLM Corp., parent of Sallie Mae, which saw its stock fall by nearly 13% Tuesday. Shares of education-finance company Nelnet Inc. fell by nearly 7%.

American consumers are starting to shed debt as a result of the recent recession, with student loans being the exception. ...

The YAF article continues:

This is great for young people who have jobs, but what about the millions of young Americans with no income and no jobs. A small discount on loans does nothing for people who can’t even come close to making their payments.

Offering debt forgiveness to people that have no jobs is like handing a Band-Aid to a cancer patient.

Young Americans are miserable. 85 percent of last year’s graduates had to move back with their parents, and the youth unemployment rate is the highest it’s been since World War II. The Obama administration is losing support among young people, and rightfully so.

The Obama administration has destroyed jobs for young people. ...

Read the piece they submitted, Dear Obama Administration: Money Can’t Buy You Love , and Where Are The Jobs?

It's a real problem for an administration that doesn't get support for its policies, then decides to 'rule' by fiat. More a problem for the people who must attend to the difficulties of retuning that rule to its rightful owners - US.

No comments:

Post a Comment