The Stunning One Trillion Dollar Obama Loan Bubble
Five years ago, Barack Obama nationalized the student college loan program. What has happened since then is a stunning and dangerous explosion of unpaid debt that is now approaching ONE TRILLION DOLLARS.
In 2007, the federal student loan debt was less than 100 billion dollars. Interestingly, there were many in the Mainstream Media sounding the alarm over that amount and blaming the Bush administration for it.
Well, in 2014 that amount surpassed $700 billion dollars and is on pace to reach one trillion dollars by the end of 2015 and yet there is hardly a word of doom and gloom from the Mainstream Media about it. Not coincidentally, the cost of attending a public university has skyrocketed since the Obama administration took over the student loan program which in turn assures the overall debt amount would reach the astronomical proportions we see today:
Worse still, D.C. Whispers indicate operatives from Valerie Jarrett’s office have met numerous times in recent months with Congressional staffers regarding some kind of zero interest bail-out/forgiveness program that will of course, be charged to YOU, the American taxpayer. This bailout will then in turn obligate the vast majority if these students to continue supporting the liberal Democrats into the future, for they will be seen as the ones who forgave all their college loan debt. Student loan default rates have skyrocketed since Barack Obama nationalized the loan program. Take this excerpt from a recent Dallas Fed report:
Read more at Ulsterman:
http://ulstermanbooks.com/stunning-one-trillion-dollar-obama-loan-bubble/
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