A. It’s not.
So why in the name of all that’s holy are we seeing provisions for taking over the college loan business, as well as disbursements to “historically black” colleges and “underrepresented students” in this abortion of a healthcare bill that may be foisted upon us before the Vernal Equinox?
John Leo, writing at Minding the Campus, mentions the racial preferences which are sprinkled liberally (hah!) throughout the bill, and in particular he makes reference to college and university funding (in a healthcare bill?):
Obamacare money for colleges is also aimed directly at predominately black and Hispanic schools. On its for-pay site, the Chronicle of Higher Education says: “The plan also includes $255-million a year to help historically black colleges, as outlined in the House bill. It includes $750-million over five years for College Access Challenge grants, which would support state efforts to enroll and graduate underrepresented students, down from $3-billion over 10 years in the earlier House version.”
“Obamacare money for colleges.” Cognitive dissonance? Oxymoron? Lapsus lingua? Nope, just the start of yet another government take-over. Because in the healthcare bill is also the provision to nationalize the college loan industry. The National Association of Scholars views this latest power grab with some concern:
“The health care bill that the Democrats hope to pass by “reconciliation” to avoid the normal Senatorial voting procedure is now being amended to include the administration’s Big Grab on federal student loans. If this works, we will have one bill in which the federal government not only takes primary control of American health care but also simultaneously takes practical control of American higher education…
“Senator [Lamar] Alexander notes that DOE plans to borrow from the Fed at a 2.8 percent interest rate, lend to students at 6.8, and splurge with the difference with a massive new spending program. He reports that the Congressional Budget Office has lowered the estimated savings from kicking out the private lenders from $87 billion to something like $47 billion. Some 2,000 private lenders will be forced out of this business. Services to students driven by industry competition will be eliminated in favor of typical federal bureaucratic “efficiency.” And those “educators, engineers and computer scientists—the backbone of the new economy”? They will be spending years longer and paying lots more to pay back loans that are actually being used to fund Congressmen’s favorite edu-pork programs.”
Borrowing at 2.8% and lending at 6.8%? Lower estimated savings than originally promised? Putting 2,000 private lending companies out of business? Sounds just like an Obama-sponsored, pork laden, Democrat spending spree. Heck, it’ll fit into the Obamacare bill slicker than a bucket of boiled okra.
As we get closer and closer to an actual vote, I’ll go back to Alinsky’s Rules for Radicals and quote rule #9:
“The threat is usually more terrifying than the thing itself.”
Usually, perhaps. But in this case, I must disagree. Nothing could be more terrifying than the actual passage of this abomination of a bill.