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Federal Government Profiting Handsomely from Student Loans

Federal Government Profiting Handsomely from Student Loans - RF CafeThe Federal Government profited $41.3 billion on student loans in fiscal year 2013, down $3.6 billion from 2012. That's good news, right, the government making a profit on something for a change? Yes, except for one major fact: The student loan business was completely stolen by the Fed from private lending institutions in 2010. Wouldn't it be nice if you could simply seize control over an already profitable industry and claim it as your own? Venezuela has been doing that a lot lately. If you or your child is a student who needs money for school, you now have one place to go;  that evil free market greed by companies harboring an evil profit motive have been removed from the equation. Oh, wait... What is not factored into those numbers is the amount of money the government will end up losing due to default on loans or the 'equivalent' in payback allotted to people who elect to get government jobs rather than go into the private sector work force. The intentionally fuzzy way in which accounting is done will prevent the real numbers from ever being ascertained. Once the government has control of the bookkeeping, literally nobody knows what's going on so everything is up to subjective interpretation according to the whims of political needs. That's the plan after all, isn't it?

Socialism is government control of the means of production and (ostensibly) the egalitarian distribution of resources. Communism, Leninism, Maoism, and Marxism are basically, with some minor differences, total control of society by the government by a single party; i.e., The State. Whether you call this kind of action Marxism, Socialism , Leninism, Maoism, or Communism, they all historically - without exception - have resulted in the state-sponsored murder of millions of citizens.

Read the full story in the Detroit Free Press..




Posted  November 25, 2013
 
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