“The loans from 2007 to 2012… are on target to produce $66 billion in profits for the United States government,” Sen. Warren said. “Right now this country is taxing young people who are trying to get an education. And taxing them, saying ‘you have to pay extra… and you know why you have to pay extra? So we can keep tax loopholes open for millionaires and billionaires.’ This is about as wrong as it gets.”
“Right now it’s kids who go to college who have to borrow money, who can’t afford to write a check up front, they are subsidizing the millionaires and billionaires who want to keep open their tax breaks,” Warren continued. “We need to reduce the interest rate on student loans. It’s making way too much money for the government. We just need to do this.”
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9 comments:
BS!
How about reducing Govt spending to reduce what students pay? You can manipulate this crap any way you want.
Naturally the libs want to focus on taking more money away from those who have some.
Cutting subsidies to oil and gas companies would be a start.
The government should not be in the loaning business. The government should not be in any business.
It's so sad these two people voted for Obama and are now complaining about this issue!
Of course they have already blamed the Bush admin.
Elizabeth Warren doesn't want you to know it but she is a millionaire many times over.
I thought the government had always funded student loans,but what do I know?
9:00, You are kidding, right?
It's all started with the liberal mantra 'everyone DESERVES an education.'
That's BS because what that did was to lower the standards in US colleges and U's so just about everyone was accepted. Higher education needs to be reserved for the brightest and the best.
These low standards are now what is causing Fortune 500 companies to send headhunters to foreign countries to recruit employees to work in the US esp in the engineering, science, math and tech fields. They've even lobbied Congress to make it easier for these recent foreign graduates to get Visas to come here and work.
Sallie Mae is the quasi government agency, tasked with buying the loans from lenders. Similar to Freddie and Fannie for the housing loans.
When defaults occurs the tax payers are left holding the bag as the lenders are guaranteed their money. The lenders are the big banks, best friends of the democrat party as is all big business.
They don't really fund them 9:00 they guarantee them so the lenders themselves don't lose any money.
I don't think a lot of people know this. Everyone's heard of Freddie Mac and Fannie Mae, but Sallie Mae is virtually unheard of.
This is why Sby News is great. It's educates people everyday. I think the readers of this blog are good decent common sense people who strive for better things for the future.
Thank you Joe - great information
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