Wednesday, July 25, 2012

Who’s paying for Obama’s artificially Low Student Loan rates

Congress and the president have done America’s retirees a great disservice. By robbing the pension fund and lowering accounting standards, the student-loan bill steals from seniors tomorrow to achieve a politically expedient goal today. The president has made the student-loan issue a signature issue of his re-election campaign. But he never told us that lower loan rates would come at a cost to the financial security of the elderly. -- NATHAN HARDEN
The Legion of Robin Hood is that he stole from the rich to give to the poor. The legion of Barry Hussein Soetoro is he is stealing from the old and retired to give to the young who he hopes will vote for him.

Nathan Harden reports that president Soetoro’s one year freeze on student loan rates is paid for by the Soetoro government raiding its pension-guarantee fund to the tune of $6 billion — although the fund is already running a deficit of $26 billion. (see story).

Columnist Daniel Indiviglio of Reuters dug up the details this week, calling the bill financial “hocus-pocus.” The student-loan scheme was buried in a transportation bill.[…] The student-loan bill puts the pension system in jeopardy. To cover future payouts, […]Plus, the bill lowers accounting standards for pension funds, letting them contribute less money than before while forecasting the same future return. –Nathan Harden


Apparently the president feels that the old and retired aren’t paying their fair share . It’s a good thing that Justice John Roberts made share that the Obamatax death panels are constitutional. .

When the elderly discovers that the president stole their retirement, the Obamatax death panels can deny the elderly heart medication thus solving the pay back problem for the Soetoro administration.