Thursday, September 17, 2009

Student loans at risk?

In yet another socialist government takeover bid, the House of Representatives has passed a bill in which the government would take over student loans.

According to the Wall Street Journal,

The furor over President Obama's trillion-dollar restructuring of American health care has left his other trillion-dollar plan starved for attention. That's how much the federal balance sheet will expand over the next decade if Mr. Obama can convince Congress to approve his pending takeover of the student-loan market.

The Obama plan calls for the U.S. Department of Education to move from its current 20% share of the student-loan origination market to 80% on July 1, 2010, when private lenders will be barred from making government-guaranteed loans. The remaining 20% of the market that is now completely private will likely shrink further as lenders try to comply with regulations Congress created last year.
If this plan ever becomes law my prediction is that the next step will be a lawsuit by the ACLU, Americans United for the Separation of Church, and others declaring direct government student loans to Christian College students to be an unconstitutional violation of the separation of church and state.

If they succeed, this may well kill many Christian Colleges which, I'm sure, would suit many on the Left just fine.

If these takeovers keep up, we'll have to find a new name for the Democratic Party--maybe something like, the National Socialist Party.

No comments: