Illegitimate government and yet another bailout

[dsummoner]

Also known as, someone else should subsidize your hate Whitey and hate the pole of oppression degree while you flip burgers while getting doped beyond all stupidity in your mother's basement.

Source:

2012 is the year the student loan bubble finally popped. While on one hand the relentlessly rising total Federal student debt crossed $956 billion as of September 30, and was growing at a pace that will have put it over $1 trillion by the end of 2012, the one data point confirming the size, severity and ultimately bursting of this latest debt bubble was the disclosure in late November by the Fed that the percentage of 90+ day delinquent loans soared from under 9% to 11% in one quarter.

Which is why we were not surprised to learn that the Federal government has now delivered yet another bailout program: this time focusing not on banks, or homeowners who bought McMansions and decided to not pay their mortgage, but on those millions of Americans, aged 18 to 80, that are drowning in student debt - debt, incidentally, which has been used to pay for drugs, motorcycles, games, tattoos, not to mention countless iProducts. Which also means that since there is no free lunch, all that will happen is that even more Federal Debt will be tacked on to replace discharged student debt loans, up to the total $1 trillion which will promptly soar far higher as more Americans take advantage of this latest government handout. But when the US will already have $22 trillion in debt this time in four years, who really is counting? After all, "it is only fair" that the taxpayer funded "free for all" bonanza must go on. The latest debt bailout, not surprisingly is not titled "Yet another taxpayer funded bailout for those who bought things they can't afford on credit" as that would not be very politically prudent, especially for those politicians who still have taxpaying citizens as their voters. Instead, its name is the much more PC: "Pay as You Earn Repayment Plan." Alas, it really should be called the former, because what it does is it incentivizes Americans to borrow even more Federal student loans, well aware that there will now always be a cap on the associated monthly interest payment which will never leave a mark regardless what the full underlying loan notional is. It also provides for full debt discharge should the borrowers end up with cushy Federal jobs - because the one thing the US government needs afford is more debt-saddled government workers.

Of course, the greatest parasite ever created by nature, known collectively as the gutterfilth poor, will get to engage in the greatest level of parasitism.

In some cases, borrowers with low incomes could be required to make a zero-dollar payment and would still be considered current on their loan. Monthly payments can increase or decrease each year based on the borrower's income and family size.

A useless pov getting a hate Whitey degree that leaves them with sufficient qualification to barely flip a burger while crapping out spawn on full auto or serially inseminating each and every hoodrat/barriorat/trailerrat gets a free pass... unfreakingbelievable.

[SoSad]

Why graduate without costing the taxpayers anything when it isn't appreciated?

I suppose it would be better to quit work and go back to school. With no money coming in, I'd be current on my loan.

If everyone followed suit, who would be left to pay for this? We can tax the millionares 100%, but we need more people to raise taxes on, so let's seriously tax any successful individual to pay for these expenses.

These bailouts are getting ridiculous.

[dsummoner]

The bailout debt simply goes onto the Fed's balance sheet. With QE ad infinitum and beyond, it is time to 'get in on it.' Being responsible is for the suckers, apparently. Spending eight years to get a degree in Hate Whitey studies with a minor in underwater basket weaving while loading up on the student debt to pay for 'ancillary expenses' and then claiming poverty secondary to not being able to find a job is the way to go, apparently.

[flyboy56]

All part of the bigger plan to force a dollar and then a national debt bubble to burst creating a national panic which will lead to increased security measures. Why else are so few interested in bringing down the debt?