I wonder if we’ll ever be able to tally up the losses during the Barack Obama regime.
I mean, how much taxpayer money did he ultimately waste? Is it in the billions? Trillions?
We know he essentially stole taxpayer cash to help fund liberal organizations and other left-wing agendas, which is disgusting in and of itself. It’s also a freakin’ felony.
We also know he spent tons of taxpayer money basically defending and shielding himself, a breaking news story that really lit a fire under Conservatives.
But aside from these highly questionable uses of government funds (and that’s putting it mildly), one must also question his legitimate attempts to fix gargantuan problems. Like most liberals, his answer was always, “Throw more money at it!”
Of course, that doesn’t work.
And education secretary Betsy DeVos has revealed just how costly a mistake that is, especially in regards to the colossal student loan issue in America.
The problem stems from students taking out loans in excess of their capability to repay them, either because the principle amount was too large to begin with or because the jobs these students get are not sufficient to pay back the loans.
Hence we have millions of these government loans in default totaling a whopping $1.1 trillion. It is that problem that Secretary DeVos has addressed; via Western Journalism:
“[D]uring Obama’s eight years in office, 8.7 million Americans defaulted on student loans. This happened with the government spending $800 million annually to collect student debt.“
So much for his efforts.
Things have changed after the problems caused by the Obama administration’s policies “prompted the National Council of Higher Education Resources to ask Congress in a pair of April 4 letters to delay the implementation of the [Obama administration’s] changes.”
Instead of delaying those changes, Secretary DeVos eliminated them.
“DeVos responded to their request by withdrawing the Obama-era memorandums Tuesday in an effort to ‘negate any impediment, ambiguity or inconsistency’ in the government’s approach to collecting student loan debt.”
DeVos’ stated her goal to be to “create a student loan servicing environment that provides the highest quality customer service and increases accountability and transparency for all borrowers, while also limiting the cost to taxpayers.”
Why wasn’t this the goal from the start?
But then we were dealing with the Obama administration where the overriding objective was not fiscal responsibility, but, to be crude, using government money and policy to buy votes.
HOW much did Obamacare ultimately cost this country…?
Source: Western Journalism