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  1. #10861
    Joined
    Sep 2001
    Location
    Colorafornia, USSA
    Age
    46
    Posts
    13,817

    Re: Very Disturbing

    Student debt payback far worse than the government has reported.

    The new analysis shows that at more than 1,000 colleges and trade schools, or about a quarter of the total, at least half the students had defaulted or failed to pay down at least $1 on their debt within seven years.

    The student loan repayment rates were originally released in 2015 as part of the Obama administration’s College Scorecard, which followed an aborted attempt to rate colleges and tie federal funds to those ratings.

    At the time, the Journal reported that at 347 colleges and vocational schools, more than half of students had defaulted or failed to pay down their debt within seven years. Those figures were based on students were supposed to start repaying loans in 2006 and 2007.

    http://www.wsj.com/articles/student-...ved-1484777880

    Nothing to see here. Just more of the same government employee ass covering at the expense of the country. If the numbers don't represent what the administration is trying to sell, just change the numbers! Now you have to wonder how much of these "quality control issues" are happening at other government entities.

  2. #10862
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    20,422

    Re: Economic News/Discussion

    ^^^ A generation of irresponsible snowflakes gonna tell us how we do things wrong.

  3. #10863
    Joined
    Mar 2002
    Location
    California
    Posts
    26,262

    Re: Economic News/Discussion

    If true.. get the pudding ready..

    Oh, baby. “Dramatic” cuts are coming to federal government

    . . .But it’s some of the other cuts which are probably going to draw gasps of horror from Trump’s more liberal detractors. Currently on the list is the complete elimination of the National Endowment for the Arts and National Endowment for the Humanities. Additionally, the Corporation for Public Broadcasting would be privatized. If you thought there were going to be liberal marches in the streets tomorrow, just wait until those three go into effect.

    The total savings to the federal government’s bottom line from all of these moves? How about $10.5 trillion over 10 years.
    . . .
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  4. #10864
    Joined
    Sep 2001
    Location
    Colorafornia, USSA
    Age
    46
    Posts
    13,817

    Re: Economic News/Discussion

    $10.5 trillion?!?!

  5. #10865
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    20,422

    Re: Economic News/Discussion

    ^^^ Yeah, I dunno... that sounds kinda steep.

  6. #10866
    Joined
    Mar 2002
    Location
    California
    Posts
    26,262

    Re: Economic News/Discussion

    ^^ Sure.. but if it's true or close to it a few fiscal conservatives might need to see a doctor for sumthing lasting over 4 hrs..
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  7. #10867
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    20,422

    Re: Economic News/Discussion

    Maybe we're just so danged used to DC spending more.

  8. #10868
    Joined
    Jul 2001
    Location
    Houston
    Age
    70
    Posts
    1,051

    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post
    ^^ Sure.. but if it's true or close to it a few fiscal conservatives might need to see a doctor for sumthing lasting over 4 hrs..
    I have already ordered the muscle relaxer because of Oblamalamadingdongs imminent removal. Maybe I should have doubled the order.

  9. #10869
    Joined
    Mar 2002
    Location
    California
    Posts
    26,262

    Re: Economic News/Discussion

    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  10. #10870
    Joined
    Mar 2002
    Location
    California
    Posts
    26,262

    Re: Economic News/Discussion

    Mr. Pen & phone's las minute regulation splurge to get "penned"....

    It begins: $85 billion in regulations face the ax, $5.7 billion this week


    On the heels of President Trump's new executive order to kill two regulations for every one he institutes, Congress this week stands ready to kill a handful of former President Obama's "midnight regulations" that were set to cost businesses and consumers $5.7 billion.


    What's more, the moves will put into action a series of cuts to burdensome regulations, many in the financial and environmental industries, that will save the country tens of billions of dollars.


    "The Obama administration was busy during its 'midnight' period for regulation, breaking records for December regulatory output, and publishing $157 billion in regulations," according to a new report from the regulatory watchdog American Action Forum.
    . . .
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  11. #10871
    Joined
    Mar 2002
    Location
    California
    Posts
    26,262

    Re: Economic News/Discussion

    What he said... does a good job summarizing the failings of the CRA as well..

    Can We Please Repeal Dodd-Frank Already


    As most are aware, the government’s response to the mortgage/banking crisis was the passage of the “Wall Street Reform and Consumer Protection Act,” commonly known as Dodd-Frank, for the namesakes and supposed authors of the bill, Chris Dodd and Barney Fwank.
    Brent Smith

    Dodd-Frank was signed into law on July 21, 2010, by our dear former president Obama. Practically the day after passage, Republicans came forth en masse to protest the law and vow to repeal it.

    Well – it’s been 7 years – how bout it.

    Just yesterday Senator Orrin Hatch declared Dodd-Frank to be, “worse than Obamacare. I think it’s one of the worst bills that’s ever been passed through Congress.” Hatch added that, “To treat all these banks like they’re a bunch of crooks and you have to watch everything they do is, I think, beyond the pale.”

    Naturally, those on the left are all a-twitter, insisting that the infinitely more competent federal government must continue to keep these “crooks” and incompetents on Wall Street in check. Without government intervention, Wall Street and Mortgage banking would look like the Wild West.

    So who’s right and who’s wrong, and just why did we need the over-burdening Dodd-Frank law to begin with?

    Well – you can judge who is right or wrong, but to find out, we must strap ourselves in and set the way-back machine to the Carter-era Seventies. Hit It!

    It all started with the “Community Reinvestment Act” (CRA), which was promoted and signed into law by progressive interventionalist, President Jimmy Carter.

    As is progressive’s want, Carter’s plan, through the force of government, was to provide “affordable housing” to those liberals deemed less fortunate. According to progressives, the government is arbiter of what is equitable and can always fix any problem. And you see – it’s simply not fair to deny people the right to affordable housing – or even unaffordable housing.

    As one would expect, during the Reagan years, Carter’s grand plan just languished in the shadows. It wasn’t until our next progressive, Bill Clinton, that the CRA got legs. Actually, more like wings or a jet pack.

    Clinton rediscovered Carter’s plan and pumped it full of steroids. Through the power of his Justice Department and his stooge Janet Reno, he forced banks to offer mortgages to those who could not afford to purchase nor had a prayer of paying back the loan.

    Reno threatened banks to make these loans with regulations and stiff penalties, so the banks, in turn, were forced to come up with ways to make the mortgages more palatable, such as “interest only” and “no documentation” loans. If one were of a “preferred” or “protected” class, one would not even have to prove he or she was employed.

    All this, so the Clinton administration could show the voters how under Bubba’s rule, the American dream of owning a home could be realized.

    So where did that leave the banks? In a mighty tough spot!

    The government forced them to make bad loans, thus sticking them with a lot of worthless mortgages from people who couldn’t pay them.

    Well, the banks could not just sit on this worthless investment. So with the aid of the corrupt quasi-government run Fannie Mae and Freddie Mac, the banks packaged the loans and called them “Mortgage Backed Securities” (MBS).

    The banks then sold these “investments” to unsuspecting buyers who thought they would have a nice steady and stable income stream. Of course the buyers were wrong and upon discovering they had been duped, they simply repackaged the MBS and resold them. Eventually the scheme ran its course when there were no dupes left for whom to sell.

    During this time the George W. Bush administration tried to clamp down on Freddie, Fannie and the banks, but were descended upon by powerful Democrats such as the aforementioned Barney Frank, Chris Dodd and Maxine Waters. The dems claimed that all was well and those trying to solve the problem just wanted to deny minorities the American dream of home ownership.

    That, in a nutshell, was the cause of the housing crisis and subsequent financial meltdown. And once again, we are witness to another demonstration of the government causing a problem, then swooping in to attempt to fix it.
    Like Obamacare, every word of Dodd-Frank must be repealed!
    Also see,
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  12. #10872
    Joined
    May 2002
    Location
    A Little South of Sanity
    Posts
    12,925

    Re: Economic News/Discussion

    ^^^^ Buh Buh Buh Buh that's not at all how B.B. & his trusty sidekick TicToc tell the story. See when slick Willie was President it was his awesome fiscal policy that made for strong economic growth - nothing to do with windfall from post Cold War defense cutbacks made by Bush 1. No sir it was all Clinton and his fiscal policy that somehow totally evaporated after Willy left office and Bush 2 took over.

  13. #10873
    Joined
    Mar 2001
    Location
    Home
    Posts
    6,884

    Re: Economic News/Discussion

    Not to downplay Carter's or Clinton's role, but under Dubya things continued unabated until the crash. Home ownership peaked towards the end of his first term / start of his second term, and has been on the downward trend since. To my recollection 'ol George had no trouble getting in front of the teleprompter and telling us wonderful things were as evidenced by home ownership rates. Maybe he had someone trying to clamp down and I missed it, stranger things have happened, but I don't remember him or his administration being much of a fiscally conservative lot.

  14. #10874
    Joined
    Mar 2002
    Location
    California
    Posts
    26,262

    Re: Economic News/Discussion

    Your memory is correct, but then this was happening at the same time:

    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  15. #10875
    Joined
    Mar 2002
    Location
    California
    Posts
    26,262

    Re: Economic News/Discussion

    ^^ And

    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


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