Sunday, January 31, 2010

Slavery returns to the U. S.

Please, please don't leave my blog now, but read it.

President Obama wants the federal government to take over the college student financing industry, and has forced most private sector participants out of it already.

Student loans are not dischargeable by bankruptcy.  When a student owes the government, (s)he must pay unless the government somewhat arbitrarily extinguishes the debt.  And in time it will discharge the debts of favored citizens.  Right now the president is asking for debts to be extinguished after 10 years IF the student goes to work for the government, or into "public service" (as defined by President Obama, no doubt.  Including ACORN no doubt), the favored few, or many as many will stay out of the private sector to discharge their debts.  This takes potential entrepreneurs and workers out of productive innovation and wealth production and forces -- yes forces them into the public sector.  This clearly diminishes the wealth of the U. S. and forces former students into indenture servitude at the government's whim.  Today it's "public service" tomorrow, who know what?  Discharge debts of voters who pull the lever for Democrats?  Today, or, let's say, yesterday, partially-government-financed ACORN rounded up the lonely and destitute to vote for Democrats.

And the president arbitrarily set 10% of some part of a student's disposable income (as to be defined by the Democratic administration) as the maximum (s)he'll have to pay to service the debt the government loaned.  Government just as arbitrarily set it at 90% or 1%, and the government could just as arbitrarily establish a lower number for the disabled, or dispossessed, or addicts, or gays, or blacks, or whatever affinity group is then arbitrarily in favor.

Or the government could desire infrastructure repair and force the indebted to work for $2.00 an hour to repay the debt.  Sounds ridiculous, but arbitrary is arbitrary.  Or $25.00 for union members.  Or $1.00 for white people. 

Please think about the possibilities.  Or what if Republicans got in power, they'd absolutely discharge all the student loans of kids whose parents make over $250,000 a year or are executives at big business.  And then the $2.00 of servitude would be paid to poor people, blacks and gays.

Just think about the possibilities!


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