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Thursday, January 8, 2015

Obama tries to hand out more free stuff--like college

  Well, now that Obama has the assurance that no huge expenditures he proposes will be approved by the new Congress, I suppose this is just the beginning of the new candy bags Obama will be handing out.
  Drudge is highlighting Obama's idea to give every C student (shooting for excellence, that Obama) a free two years of community college, as long as they, um, show up for class.
  My guess is that there will be many more items offered like this before the next election and before we are through with him.
  I'm also guessing that he will propose paying off student loans in some additional way.
  These are obvious ploys to get young people to vote for a Democrat in the next election. The enticement will be too much for our hapless, silly young people who do not seem to understand that there is not an endless pool of money, no matter what the Fed directors think.
  They also do not seem to understand or care that they are mortgaging their futures and their children's futures.
  In fact, incredibly, many students do not appear to even realize they have borrowed thousands and thousands of dollars to get drunk for four (or more) years at the college of their choice.
  CBS reports a Brookings study that reveals the poor addlepated youngsters don't realize they have bargained away their futures for a few classes on puppetry and feminist studies only to find there are no good paying jobs for puppet masters or ardent feminists outside the Ivory Tower anyway:
A surprisingly high number of students don't know how much they are borrowing to attend college, according to a new report from the Brookings Institution. Some students aren't even aware that they've borrowed any money at all.
In nationally representative data on student loans, more than half of freshmen who were surveyed seriously underestimated what they owed. What's more, less than one in three first-year students came up with a debt amount within a reasonable margin of error. The students did poorly even though they were asked for debt estimates within large ranges such as $5,000 to $9,999.
Twenty-eight percent of students didn't realize that they had taken out federal student loans, and 14 percent erroneously thought that they had no debt.

"The problem with the lack of financial savvy among enrolled college students," the report noted, "is that the consequences of their decisions come as a surprise to them once it's too late."
  Well, it's a relief to know that our educational establishments are doing their jobs with the little numnuts!
  Obama's already started with the student "loan relief" along with the other debt free mortgages and "free" healthcare which is only now beginning to reveal its ugly head.
  Wait til we all get our tax returns for 2014. Daily Mail has an eye opener on that issue in an article entitled:
Wondering how Obamacare affects your tax return? Relax: You just need to know your NABPP and SLCSP from your SRP, MEC and ECN – and follow the IRS's 21 PAGE guide
  These are the beginning salvos of the 2016 elections.

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