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I don't know why I missed that part...I probably was getting ready to go to bed and was already in disbelieve on what the president said during the State of the Union...
He wants to forgive a student loan if the student takes a job in the public office..
Public office jobs don't make any profits for the community and only cost money. In Europe the most jokes are about employees in public office since most of the employees (Europe) start the day with coffee and talking and doing nothing( discussing the games they watched over the weekend, etc.). After a couple of hours of doing nothing they go to lunch and can't wait till it is 5 pm to go home and hardly anything is done...sorry I'm not saying it all is true but many have experienced the long lines of waiting in city halls, the bureaucracy and weeks of waiting due to the slow process.
There won't be enough jobs to forgive all the student loans so more of these jobs will be created and taxes will go up just to afford the forgiving of the loans...since who doesn't want to go to Colllege, party a lot and then in the end don't have to pay for it...nice for free.
ANOTHER EXAMPLE OF SPREADING THE WEALTH AND GIVING OTHER PEOPLES MONEY AWAY...AND WASTE!
"The problem with socialism is that eventually you run out of other people's money." - Margaret Thatcher
"Here’s a little background. Income-based repayment was passed by Congress in 2007, and allows borrowers to cap payments at 15% of their income above a poverty standard, defined as 150% of the poverty level for the borrower’s family. For a single person without children, the poverty standard is $16,245....
"Any balance not paid off after 25 years is forgiven, though the IRS will consider this taxable income. If the borrower goes into the public sector, then his loans will be forgiven after 10 years and the IRS will not consider the forgiven balance taxable.
"The president's plan would lower monthly payments to 10% of what the borrower makes above the poverty standard, and allow loans to be forgiven after 20 years instead of 25."
This is just more government crapola. If someone borrows money from someone else then they should be required to pay it back. That has been a well accepted law of economics for thousands of years now. Of course, politicians always think that economic law doesn't apply to their policies. They always think this and they are always proven wrong. More social engineering. If the kid borrows the kid should pay back. it's simple.
As far as working in the public sector? I know a few people that work for the feds that are perfectly intelligent, capable people. For the most part though you are going to find the losers.
Think back to when you were in school. Remember the real go-getters. The people everyone knew without a doubt were going to be successful. The people that went to Ivy League schools. How many of them aspired to work in the public sector? LOLs. None.
Never heard one of them say "I cant wait to finsh at Harvard so I can be a government regulator." LOLs. Only people that take those jobs were the ones that graduated at the bottom of their class......at the public university. LOLs.
It took him almost 20 year to pay for his own loans even after he made millions on the book of lies about his daddy.
It took him almost 20 years to pay his traffic tickets and only after someone told him to pay them once he decided to run for this office did he pay his FINES.
He believes he is above the law.
If you signed on the dotted lines then you owe the money.
So he wants to bailout people who went to college but he SCREWS over all those people who lost their homes in the last year.
Amazing, how he let people lose their homes in record numbers last year while hiding back some of the stimulus money but yet wants to screw over those who were good enough to lend money to a student.
Sounds to me he is going backwards here.
Hey Barry, how about those home owners who lost their homes thanks to you?
It took him almost 20 year to pay for his own loans even after he made millions on the book of lies about his daddy.
It took him almost 20 years to pay his traffic tickets and only after someone told him to pay them once he decided to run for this office did he pay his FINES.
He believes he is above the law.
If you signed on the dotted lines then you owe the money.
So he wants to bailout people who went to college but he SCREWS over all those people who lost their homes in the last year.
Amazing, how he let people lose their homes in record numbers last year while hiding back some of the stimulus money but yet wants to screw over those who were good enough to lend money to a student.
Sounds to me he is going backwards here.
Hey Barry, how about those home owners who lost their homes thanks to you?
Oabma seesm to forget that the laons are not his meoney but the peoples money. Just like the bankloans we want our moeny back for the loan. It was not a gift. Why not just instruct Fannioe and Freddie to fiorgive those housing loans they hold.Because it just teaches and reenforces irresonsibilty and is the taxpayer money just as the bankloans are.More deals aginst the national interest to buy votes is what this is.Why didn;t he just devide the stimulus amoung all the people then. Because he wanted to reward speical interest he owed.
What ever happened to personal responsibility? If I loan someone a dollar, I hope to get it back...these type of Stupid policies will continue to devalue the dollar and open the door for corruption. Remember when doctors were not paying back their loans? I can understand if someone takes a job in the public sector and provides a service, where a small percentage of the loan is paid off each year, but this loan forgiveness crap is again more stupid socialism. Is BHO talking to Hugo Hitler Chavez daily or something? We are not Venezuela
It incentivizes slow repayment as well. The longer you take to repay, the less likely you will have to repay. Another stupid policy. Personal responsibility has flown out the window with this administration.
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