Extending Unemployment Benefits – The President continues
to promote government dependence by unreasonably extending
unemployment benefits. These benefits are designed to be
temporary, not extended for years. The federal government
is already greatly over-spending and cannot afford to extend
unemployment benefits, which deter individuals from seeking
employment opportunities. WE MUST STOP NEW SPENDING NOW!
Big Spending Continuing Resolution Eyed for December 16th –
Because of the irresponsibility of the President in
presenting a budget and the failure of the Democrat-controlled
Senate to adopt a budget, we are consigned to passing
continuing resolutions to avoid a government shutdown.
Republicans should be leading the fight to eliminate
unnecessary spending and duplicative, wasteful government
programs. Show America that you will not allow the Democrats
to bully you into continuing the national spending spree! WE
MUST CUT WASTEFUL SPENDING NOW!
Friday, December 16, 2011
Monday, December 5, 2011
Obama's Plan for Student Debt
The Federal Government Department of Education
subsidized student loans before 2008. This can be seen
clearly by viewing a chart of First Marblehead, FMD. At
the end of 2006, FMD's stock price was about $57/share.
By the end of 2007, the stock price was less than
$20/share. Today the stock price is only $1.11/share.
The main reason for the decrease is that Congress cut
subsidies to lenders and finally took over the student
loan business entirely.
Obama's new plan is to forgive loans after 25 years.
This unfunded liability can be at considerable cost to
taxpayers. It would be easy to make minimum payments for
25 years and then owe nothing. Taxpayers would then owe
the compounded interest. The average student debt of 2010
graduates is over $25,000.
A 66-year-old woman called a radio financial advice
program saying that she went back to college in her 50s
and had finished with student loan debt of about $40,000.
At 66 she and her husband – both now on Social Security -
had paid over $43,000 back but still owed over $33,000.
subsidized student loans before 2008. This can be seen
clearly by viewing a chart of First Marblehead, FMD. At
the end of 2006, FMD's stock price was about $57/share.
By the end of 2007, the stock price was less than
$20/share. Today the stock price is only $1.11/share.
The main reason for the decrease is that Congress cut
subsidies to lenders and finally took over the student
loan business entirely.
Obama's new plan is to forgive loans after 25 years.
This unfunded liability can be at considerable cost to
taxpayers. It would be easy to make minimum payments for
25 years and then owe nothing. Taxpayers would then owe
the compounded interest. The average student debt of 2010
graduates is over $25,000.
A 66-year-old woman called a radio financial advice
program saying that she went back to college in her 50s
and had finished with student loan debt of about $40,000.
At 66 she and her husband – both now on Social Security -
had paid over $43,000 back but still owed over $33,000.
Subscribe to:
Comments (Atom)