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Old 11-25-2013, 04:35 PM
 
10,881 posts, read 6,606,703 times
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In addition to ripping them off for healthcare, the Obama regime is raising taxes on the young via interest on student loans:

Quote:
The federal government made enough money on student loans over the last year that, if it wanted, it could provide maximum-level Pell Grants of $5,645 to 7.3 million college students.

The $41.3-billion profit for the 2013 fiscal year is down $3.6 billion from the previous year but still enough to pay for one year of tuition at the University of Michigan for 2,955,426 Michigan residents.

Itís a higher profit level than all but two companies in the world: Exxon Mobil cleared $44.9 billion in 2012, and Apple cleared $41.7 billion.
more: Federal government books $41.3 billion in profits on student loans | Detroit Free Press | freep.com
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Old 11-25-2013, 04:39 PM
 
Location: San Diego, CA
10,584 posts, read 7,990,922 times
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BTW, did you notice the trick they use in reporting it?

Ever try to look up how much interest we paid each year, on the National Debt?

Look here: http://www.census.gov/prod/2011pubs/12statab/fedgov.pdf

Scroll down to Table 473 (Federal Budget Outlays by Detailed Function), and look near the bottom of the first page.

It tells you NET interest, as though that was the figure you needed. That's almost always the figure that gets reported, which was slightly more than $200 billion in 2011.

But further down in the fine print, it admits that it took that actual interest paid that year, and diluted it by adding in interest the govt TOOK IN that year from various sources... including the Student Loan program.

So, although they normally report "Net interest" of $207 billion, we actually paid more than twice that, more like $430 billion. In ONE year. Just for interest. (That's like $5,600 per year for EACH family of four in the country. They could have used that money for a LOT of things.)

Try that "dilution" trick in any beginning Economics class, and you'll get a big red F. Mixing "expenditures" and "revenue" in the same column is a major no-no.

Try it in any private corporation, and you'll find youself in prison for fraud.

But if you do it in an official report put out by the Fed Govt, you'll probably get a promotion and a raise.



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Old 11-25-2013, 04:41 PM
 
Location: New Jersey
8,160 posts, read 11,917,579 times
Reputation: 7544
Quote:
Originally Posted by Goinback2011 View Post
In addition to ripping them off for healthcare, the Obama regime is raising taxes on the young via interest on student loans:



more: Federal government books $41.3 billion in profits on student loans | Detroit Free Press | freep.com
While I'm not a bg fan of Obama, no one is forcing these kids to borrow money to go to college. But he is forcing them to buy healthcare.
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Old 11-25-2013, 09:14 PM
 
8,487 posts, read 5,698,568 times
Reputation: 1113
Quote:
Originally Posted by Little-Acorn View Post
BTW, did you notice the trick they use in reporting it?

Ever try to look up how much interest we paid each year, on the National Debt?

Look here: http://www.census.gov/prod/2011pubs/12statab/fedgov.pdf

Scroll down to Table 473 (Federal Budget Outlays by Detailed Function), and look near the bottom of the first page.

It tells you NET interest, as though that was the figure you needed. That's almost always the figure that gets reported, which was slightly more than $200 billion in 2011.

But further down in the fine print, it admits that it took that actual interest paid that year, and diluted it by adding in interest the govt TOOK IN that year from various sources... including the Student Loan program.

So, although they normally report "Net interest" of $207 billion, we actually paid more than twice that, more like $430 billion. In ONE year. Just for interest. (That's like $5,600 per year for EACH family of four in the country. They could have used that money for a LOT of things.)

Try that "dilution" trick in any beginning Economics class, and you'll get a big red F. Mixing "expenditures" and "revenue" in the same column is a major no-no.

Try it in any private corporation, and you'll find youself in prison for fraud.

But if you do it in an official report put out by the Fed Govt, you'll probably get a promotion and a raise.



Not just the budget side they use the creative accounting on. It's even more creative on the return side.
The govt makes a great deal on debt. BK isn't even acceptable for student loan debt. NM the credit cards they try and load students up with who aren't even employed.
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Old 11-25-2013, 09:15 PM
 
8,487 posts, read 5,698,568 times
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Quote:
Originally Posted by camaro69 View Post
While I'm not a bg fan of Obama, no one is forcing these kids to borrow money to go to college. But he is forcing them to buy healthcare.
Both are using coercion. Just a slightly different form.
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Old 11-25-2013, 09:18 PM
 
15,869 posts, read 8,475,050 times
Reputation: 6295
Quote:
Originally Posted by Goinback2011 View Post
In addition to ripping them off for healthcare, the Obama regime is raising taxes on the young via interest on student loans:



more: Federal government books $41.3 billion in profits on student loans | Detroit Free Press | freep.com
And the funny thing is - most of Exxon's "profits" get paid back out in dividends or reinvested back into replacing/getting new machinery.
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Old 11-25-2013, 09:21 PM
 
Location: New Orleans, LA
1,584 posts, read 1,834,902 times
Reputation: 1140
I love it. If government "loses money" providing a service then it is a failure.

If government "makes money" providing a benefit/service then it is a failure.
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Old 11-25-2013, 09:29 PM
 
8,487 posts, read 5,698,568 times
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Quote:
Originally Posted by things and stuff View Post
I love it. If government "loses money" providing a service then it is a failure.

If government "makes money" providing a benefit/service then it is a failure.
That's one way to look at it. Here's another. Why is our economy based on debt? Who is benefiting from the returns on that? The issue isn't about govt gaining at all. It always looks out after itself. The issue is who is paying for it?
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Old 11-25-2013, 09:30 PM
 
Location: Southern California
15,088 posts, read 16,986,505 times
Reputation: 10278
Quote:
Originally Posted by Goinback2011 View Post
In addition to ripping them off for healthcare, the Obama regime is raising taxes on the young via interest on student loans:

...
Everything has a cost and you can't get something for nothing.

[shrug]
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Old 11-25-2013, 09:37 PM
 
48,519 posts, read 81,270,198 times
Reputation: 17980
No one else is willing to make those loans to that group on those terms.Anyone wanting to is free to do so.
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