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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.
It’s 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.
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.
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.
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?
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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