As Curt astutely pointed out, the US lost an additional 85,000 jobs in December bringing the yearly total of job loss to 2.5 million and increasing the unemployment rate to 17.3 nationwide.
With this news in mind, the Obama administration is pushing a 1 trillion government takeover of student loans through Democrat senator Tom Harkin’s HELP committee. This scheme will eliminate private lenders, in turn adding more citizens to the growing unemployment number and end up giving the government sole control over student loans. This will drastically impact everyone’s ability to decide how they will finance a university education. If it is anything like the healthcare bill, with politics trumping coverage, will some states benefit because their Senator held his or her vote in exchange for more goodies, leaving the other states to pick up their tab?
“My guiding principle is and always has been that consumers do better when there is choice and competition. That’s how the market works.” (Obama’s speech to Congress,9/9/09)
What happened to choice and competition? With the federalization of GM, banking institutions and healthcare, what real choices will American’s have available to them in the marketplace?
For comparison, check out GOP.com ‘The Democrats’ Job Standard “