I didn’t have a problem with health care until the federal government fixed it. For decades, we were told by Washington D.C., and their liberal shock troops, that cost were too high and our insurance was junk. Well, these geniuses put an end to that, didn’t they? Now, our deductibles have trebled, and premiums for some families cost as much as their mortgages. Let’s give a big hand to our lords and masters; these people sure no how to fix things. Boy, I can’t wait for Medicare-for-all.
Talk about fixing things, Rep. Maxine Waters chaired a hearing on student loan debt. She then lectured bank executives. Here is an excerpt of that exchange from the Daily Caller:
Democratic California Rep. Maxine Waters challenged bank executives during a Wednesday morning hearing, appearing to blame them for the student debt crisis.
What she appeared to leave out was the fact that student loans were nationalized nearly a decade ago under former President Barack Obama to cut banks’ ability to offer government-backed loans.
“By cutting out the middleman, we’ll save the American taxpayers $68 billion in the coming years,” Obama said when he signed the legislation in 2010. “That’s real money.”
Waters now chairs the committee that oversees those student loans.
Waters began by explaining the student debt crisis, saying, “Today, there are more than 44 million Americans that owe … $1.56 trillion in student loan debt.”
She added, “Last year, 1 million student loan borrowers defaulted which is on top of the 1 million borrowers who defaulted the year before.”
Then, Waters turned the questions on the bank executives, asking what they intended to do about the student debt crisis: “What are you guys doing to help us with the student loan debt? Who would like to answer first? Mr. Monihan? Big bank?”
“We stopped making student loans in 2007 or so,” he responded.
“So you don’t do it anymore? Mr. Corbyn?” she pressed the next banker.
“We exited student lending in 2009,” he replied.
“Mr. Dimon?” Waters tried again.
“When the government took over student lending in 2010, we stopped doing all student lending,” he said
Wouldn’t you think, Rep. Maxine Waters, should know this? She, afterall, was in Congress when the Obama administration nationalized student loans. Worse, the first banker reminded her of this fact, but she kept asking the others. Talk about audacity of stupid!
Therein lies the problem: we have a bunch of morons running the country and they want more power over our lives.
We have people in Congress who can’t remember what happened ten years ago, how can we expect them to understand economic principles that have been established for thousands of years. One of the biggest problems our country faces is a lack of appreciation for history.
Medicare-for-all will institute universal wage and price controls. Wage and price controls are a proven failure. Nixon failed in 1971. FDR failed with the National Industrial Recovery Act. As a matter of fact, we can go all the way back to Emperor Diocletian of the Roman empire. His policies are said to have instituted the feudal system that dominated Europe for over a century.
Maybe, that’s what our wannabe overlords want to institute, a new kind of slavery: a government of the swamp, by the swamp and for the swamp.
Source:
https://dailycaller.com/2019/04/10/maxine-waters-pin-student-debt-banks-forgets-nationalized/
https://thehill.com/blogs/congress-blog/education/279512-president-obamas-horrible-terrible-legacy-on-student-loans
https://www.cato.org/publications/commentary/remembering-nixons-wage-price-controls
https://www.britannica.com/topic/National-Industrial-Recovery-Act
https://mises.org/library/price-fixing-ancient-rome
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