Federal Government Profiting Handsomely from Student Loans
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,
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..
November 25, 2013
1996 - 2018
BSEE - KB3UON
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