Runaway spending is causing our doom, so why not spend a bit more. This time to pander to the youth in our country:
“And that forces students like you to take on a lot more loans, there are fewer grants, you rack up a lot more debt,” Obama stated.
“Can I get an Amen for that?” he asked the crowd who cheered, “AMEN!”
“Now, the average student who borrows to pay for college, now graduates with with about $25,000 in debt, that’s the average, he added,
“Some have more,” he said. “Can I get an Amen for that?”
“AMEN!” the crowd who cheered.
“Because some folks have a lot more debt like that,” Obama chuckled, as another person in the crowd shouted, “AMEN!”
Ugh, the pandering from this man is disgusting. Can I get an Amen for that?
What the students didn’t hear:
“In 2007 I missed two votes to extend the student loan bill that I now want you to believe is the most important things I’ve ever promoted. Can I get an amen?”
“More than half of all young college grads are now jobless or underemployed. Can I get an amen?”
“According to my own Vice President, government meddling in the free market actually increases college tuition. Can I get an amen?”
“Since I took office, over $5 trillion has been added to the national debt — or over $16,000 for every man, woman and child in the United States. Can I get an amen?”
“Student loan interest rates are set to double because the then Democrat-controlled Congress voted to do so. Can I get an amen?”
Anyways, he wants to freeze student loan interest rates to buy some votes. Of course this would cost close to 6 billion dollars. How will they pay for that?
Senate Democrats introduced legislation Tuesday that would prevent student loan interest rates from doubling this summer. Its $5.9 billion cost would be paid for by making it harder for owners of so-called S corporations to avoid paying Social Security and Medicare payroll taxes on some of their earnings.
The proposal would affect such companies with earnings of at least $250,000 annually and whose revenues come from the work of three or fewer owners. It would also apply to some lawyers, doctors and other professional service businesses that are owned by partnerships.
House Democrats said late Tuesday that they would introduce a similar bill, also financed by boosting payroll tax collections from many private companies’ owners.
S-Corps are used by many small companies, from mom and pop stores to individual workers like doctors and to start up businesses to file their taxes.
So he wants to raise the taxes on these small business owners to help students who have racked up a ton of debt to get an education.
And what does Obama tell those kids?
(Excerpt) Read more at floppingaces.net…