The loans were taken out by kids who then gave them to the colleges who used them to make their comfortable baby boomer tenured faculty and staffs more comfortable and bigger. Now the Feds will 'eat' some unspecified component of the trillion which means that tax payers will 'eat' it. In other words, older 'progressives' got all the money and younger working people will get the bill. Sweet. And people wonder why I call our system of government fascist. To him who has the power, go the spoils.
As President Obama prepares to issue an unspecified executive order on student loan debt – which is now just shy of $1 trillion – Bill Frezza explains why the left is dying for a partisan fight on this issue:
In the realm of economic stimulus proposals, none is as audacious, as Machiavellian, and as transparently designed to buy the votes of a critical electoral demographic than the proposal to forgive all student loans. Even if it fails, as it likely will, the seamless coordination between members of Congress, leftist advocacy groups, and the media to try to sell this idea is a perfect example of how brilliantly certain factions play their hand in the high-stakes game of crafting the dominant political narrative.
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