At present there is now a trillion dollars out in student loans and today’s graduates only have a 50% chance of getting a job when they get out of school. Government loans are called a subsidy because the government subsidizes the difference in the interest rates for a student loan and a straight up loan for any other purpose. A government subsidized loan procures 3.4% interest, which is to say the student making the loan must pay back the principle plus 3.4%.
If that student is lucky enough to get a job when he or she graduates and then opens a savings account in the US, the interest on that account is less than 1%. Of course the bank can take the money in that savings account and leverage it 300% which will be lent out at 6+% interest. The difference between the 3.4% for the student loan and the 6% made on the leveraged savings account, which pays less than 1%, is the amount subsidized through the government.
Or we could look at it another way. Through the so called bank stimulus plan, the Federal Reserve gives the banks trillions of dollars, interest free. If the bank then loans that money to a student at 3.4%, that is 3.4% pure profit.
But that is not enough, so the government subsidizes their profit further. Do keep in mind that the working citizen, putting his or her money into a savings account, gets less than 1% in interest.
FOX Business’ Stuart Varney is putting himself front and center as the number one advocate of ending subsidized loans for students. Varney says the subsidy is costing Americans $6 billion. Once again, these neo-cons will jump all over the issue of $6 billion for higher education while refusing to address trillions of dollars in interest free stimulus monies given to the banks.
Keep in mind when the trillions of dollars were printed, the responsibility for the debt it represents was levied upon the shoulders of those very students that Varney would deny a higher education to. You see the real problem here is that is it hard to enslave a well educated population and in truth this is what is at the heart of this issue.
Stuart Varney is not even a citizen of these United States. He is in fact a willing subject of the British Crown, whose agents have been working to tear down our Republic and put our lands back under British rule, literally since our inception.
Government subsidies are socialist in their essence and being so are repugnant to our Republic, which is based on individualism. Our enemies will put an issue like student loan subsidies out there in an attempt to lure our young people to the poison of socialism.
Every young person reading this, I tell you reject the poison. You are squabbling over scraps from your own table. When we reinstate our Republic under our Constitution, there will be no need for socialist subsidies of any sort because the truth is every US national is born wealthy and can afford to attend not only the finest schools in the United States, but the finest around the world. Do not settle for socialist servitude to a committee that I promise you will consist of parasites that are not only not your intellectual nor physical betters, but are in reality not your equals.
Those who step up to push socialism are the weakest and most cowardly among us, who can only find the smallest measure of courage through collectivism (in a crowd). The individual patriotic Americans of the American race are going to destroy the socialists. It is inevitable.
When you look at these socialist dirt bags, think about this. There are socialist countries all around the world that they could migrate to and live out their lives in their socialist utopia. But that is not what they want as they know in reality socialism equates to privilege for the committee members and forced servitude for the masses. In these socialist countries the privileged committees have already been established.
The United States of America is the only country on this planet that offers an alternative to socialism and communism that allows individual freedom, liberty, and prosperity. You see these socialists are culls and know that in a system based on individual intelligence, courage, and aptitude, their natural place will be on the bottom because they literally cannot get out of bed and go to work without their collective telling them to do so. You see, the only way they can deal with the fact that they are pathetic is in attempting to make everyone else as pathetic as they are.
Today is May Day and the socialists will be out in our streets preaching their treason. Get out your pencil and paper and start making your lists. There is a revolution in this country, a patriotic revolution. When we patriotic Americans are finished, socialism is going to be known as the S word and even just speaking it will get you stomped on the spot.
God bless the Republic, death to the international corporate mafia, we shall prevail.