"As a Blue Dog Democrat, it was very important to me that this reform not worsen our national debt. Not only does the bill not add a dime to our deficit, but I am pleased to report that it will actually reduce the deficit over the long term. This is not achieved by gimmicks or tricks, but by real savings that will stem the tide of skyrocketing health care costs and extend the solvency of Medicare by almost a decade. "
Sure. Pee on my leg and tell me it's raining..
1. " the bill not add a dime to our deficit" Bull crap..
It collects money for 10 years to pay for 6.
It HAD to include the takeover of college loans because, otherwise, they would already be in deficit by 70 BILLION dollars.
Which brings me to ..
2. "This is not achieved by gimmicks or tricks" Bull Crap..
This bill is loaded with nothing but tricks and gimmicks.
According to the WSJ.
"Starting next summer, taxpayers will have to put up roughly $100 billion per year to lend to students."
and according to the CBO.
CBO Director Douglas Elmendorf admits that government accounting is bogus. He writes that the statutory methodology "does not include the cost to the government stemming from the risk that the cash flows may be less than the amount projected (that is, that defaults could be higher than projected)."
He says the real "savings" are only $47 billion, even though, in a deception that would be criminal fraud if it weren't mandated by Congress, the official estimate remains at $80 billion.
But even that number is dubious.
The government has been claiming lower default rates than private lenders, but most government loans have been to students at four-year colleges. The private lenders have serviced a higher percentage of students at community and two year colleges, where defaults are more common regardless of lender.
Saves money exactly how?
(WSJ again.) "It's not a popular idea on campus. Loans directly from the feds have been available for decades, but the government's poor customer service has resulted in most borrowers choosing private lenders."
"government's poor customer service"
I'm SHOCKED!
That's why I can't wait for them to take over more of my medical care.
Three letters. Expect service like the DMV only they will do it "harder"
That Charlie Wilson is lying is a given.
That he is lying about being a Blue Dog is a given.
That he needs to be voted out ASAP is also a given.
*sigh*
(WSJ again.) "It's not a popular idea on campus. Loans directly from the feds have been available for decades, but the government's poor customer service has resulted in most borrowers choosing private lenders."
"government's poor customer service"
I'm SHOCKED!
That's why I can't wait for them to take over more of my medical care.
Three letters. Expect service like the DMV only they will do it "harder"
That Charlie Wilson is lying is a given.
That he is lying about being a Blue Dog is a given.
That he needs to be voted out ASAP is also a given.
*sigh*
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