in one way this is funny... in reality it shows how crooked Obamacare is
I guess now the kids will realize they effectively voted for a "tax increase" on themselves and that NOTHING is free..
According to the Congressional Budget Office, $8.7 billion of the money collected in student loan interest payments actually goes to pay for ObamaCare. The CBO estimates that the interest rate on these loans could be reduced from 6.8 percent to only 5.3 percent were the funds not used to subsidize the healthcare reform law and other federal programs.
The profits from student loans are divided as follows: $8.7 billion goes to pay for ObamaCare; $10.3 billion goes to pay down the federal debt; and $36 billion goes to Pell Scholarship grants.
The 16 million American students who now have student loans are paying for ObamaCare out of their meagre incomes just at the point when they graduate from college and need funds to start their lives, buy their first homes and begin a family.
Politically, how did the Republicans miss this issue in the last election?
For the administration to raid their wallets at this vulnerable time in their lives shows a level of arrogance and unconcern that is truly outrageous and stunning. That 2012 Republican presidential nominee Mitt Romney and his vice presidential pick Rep. Paul Ryan (R-Wis.) did not jump on this issue is beyond belief.
The nexus between the student loan program and ObamaCare is purely opportunistic. As the Affordable Care Act was passing through Congress, its wheels greased by the wholly fraudulent assertion that it didn’t need 60 votes to pass the Senate, the administration decided to put in a provision eliminating the private student loan industry, fully federalizing the program. What was not widely understood at the time was that it hoped to raid the funds paid by students to provide money for the bottomless pit known as ObamaCare.
Read more: http://thehill.com/opinion/columnists/dick-morris/302247-loans-subsidize-obamacare#ixzz2VAruMBmx
I guess now the kids will realize they effectively voted for a "tax increase" on themselves and that NOTHING is free..