The Democratic Party is dead. Let’s call them what they are and rightfully so because of their actions. Those who have the (D) behind their names are pure-breed socialists. Their words and actions prove it.
Obama terrible Education Secretary (look at the Chicago school system for evidence), Arne Duncan, said that Obama’s 10% cap on college loans will address ‘income inequality.’ That is socialism.
From The Hill:
President Obama’s education reform efforts will address growing income inequality in the U.S., Secretary of Education Arne Duncan said Wednesday.
Speaking on MSNBC’s “Morning Joe,” Duncan promoted the administration’s jobs plan, portions of which are targeted at updating school facilities and hiring teachers.
He also blasted Congress for not moving forward with Obama’s jobs bill, saying the nation needs to “stop subsidizing banks and give that money to young people.”
Arne and Obama forget to tell these young people that Obama bailed out the banks, auto industry and unions with his stimulus.
…“What we’re trying to do is help on the back end, to reduce those monthly payments on those loans,” Duncan said. “To make sure folks have a better opportunity to be successful there — less defaults will strengthen the economy, and we can do this by ourselves. We don’t have to wait for Congress — we can’t wait for Congress. We’re moving ahead today.”
The socialist dictatorship is being exposed. This administration continues to usurp Congressional powers to push their socialist agenda. Obama can’t run on his record and its hard to explain to college students why there are no jobs for them. It’s easier for Obama to buy them off.
According to Duncan, the Know Before You Owe plan will cap monthly student loan payments at 10 to 15 percent of the graduate’s income.
They claim this will cost the taxpayers nothing. However, when the government takes taxpayer money to subsidize education, via student loans, and now will cause a 5% loss in interest rates, that’s a loss in revenue.
“Basically we want people to have more disposable income,” he continued. “We want to reduce those monthly payments, and this can reduce those monthly payments by up to a couple of hundred dollars, so this is very significant both for recent college graduates as well as those currently in school.”