Friday, June 22, 2012

Student Loans Are Not In The Bill Of Rights

There are about a Trillion dollars in Student Loans outstanding.  The US taxpayer is on the hook for those loans in the event of default.   Socialist President Obama is talking about loan forgiveness and cutting the interest rate on these loans, which again would be subsidized by the American taxpayer.  The question is why?  Student loans are not in the Bill of Rights.  While it is true that those with a university education will do better in life than a high school graduate, or drop out, why should all American taxpayers be on the hook as the guarantor for all these loans.  Again, this is another issue where common sense should prevail; but don't count on it as long as Socialists are in government. 

First, if a student needs a loan to pursue higher education and that student has middle, or upper class parents, those parents should co-sign for the loan making them responsible in the event their kid turns out to be a dead beat.  Under no circumstances in these cases should taxpayers share in any liability for these loans.   The federal government and through it we taxpayers should only assume liability for the poorest of poor kids in the event of default.  It is in our collective interests that these poor kids get a good education so that they don't end up on Welfare, Food Stamps or Medicaid.  But even then, federal guarantees should be conditioned on legal status within the United States, no criminal record, or drug convictions. 

Student loans are another example of Socialist government gone wild in the Socialist quest to redistribute income from the Makers to the Takers.  We The People have no obligation to pay for higher education for the kids of middle, or upper class parents.    These people chose to have their little darlings and with that choice should come financial liability for them.   Contrary to Socialist President Obama and his wife Michelle, who both used Student Loans to get through university, this Blogger worked his way through school.  Since my parents could provide no help, it never dawned on me that it should be any other way.  Both Barack and Michelle Obama grew up in Middle Class homes.   If they chose not to work their way through school, their parents, or in the case of the President, his grandparenta as legal guardians should have been on the hook for those loans in the event of default, not the American taxpayer. 

Socialist President Obama wants to raise taxes on those earning more than $200,000 if single, or $250,000 a year if married to pay for all his Socialist Schemes.   There is so much fraud, waste and abuse at all levels of government that it makes no sense to give Socialist politicians even more of our hard earned money to squander.   It is not that government taxes too little.  It is that government spends too much.  American tax payers are paying several Trillion dollars a year in local, state and federal taxes and fees.   Enough is enough.  Government must learn to live within our means.   

Yet, all levels of government are struggling to balance their budgets and avoid deficit spending.  HELLO, elected politicians of both political parties, it is time to cut spending and get government employee compensation, benefits and pensions in line with what is common in the private sector.  Raising taxes, which will not generate more revenues because tax increases change behaviors.  If fact, tax increases on paper would be counter productive by providing a false sense of revenue generation, preventing the cuts that need to happen.  

For the best proof, just look to bankrupt California.   California has among the highest taxes in the country on paper.  Yet, Socialist Governor Moonbeam Jerry Brown is attempting to raise taxes even further next November by initiative.  If tax increases are approved, it will cause even more Makers to leave the state full of Takers.  Even with high taxes, on paper, California has a $16 Billion deficit with no end in sight because the state is controlled by public employee unions and Socialists feeding at the trough.  The Socialist answer to every problem in America is higher taxes, never real spending cuts.

We have to take back our country to prevent what is happening in California from being our national story.   Student loans are just the tip of a huge iceberg of entitlements requiring reform.  The United States is heading toward bankruptcy at the hands of Socialists at all levels of government.   As such, we must work hard to sweep these Socialists, at all levels of government, including President Obama, out of office in 2012 and 2014.   We can do it.  We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.  In the mean time, watch Socialist President Obama pander to kids with student loans.  Obama will promise them lower interest rates and loan forgiveness, at our expense, to buy votes.  So what's new.   

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