"We will eliminate the middle man, and save $68 billion dollars." So promised the Great One, President Obama, as he signed legislation which 'took over' the Student College Loan Program. And so the greedy banks, being the 'middle man,' will lay off employees, who will be replaced by new government employees, of course.
No matter that, 1) there is no constitutional authority for the federal government to be engaged in student loans; 2) this is just another subsidy to the underachieving university educational system, who will then increase their tuitions, again; 3) there will be more students subsidized for 'higher education' who shouldn't be in college; 4) we the taxpayers will pick up the defaulted loans and other losses (and, for all practical purposes, the so-called savings/losses which will be passed on to we taxpayers— instead of being absorbed as any private business does, creating employees, and services, and paying taxes).
Hey, if this program can really save such big bucks, then why don't we try this in other areas? Let's eliminate the middle man, like the greedy food chains, and let the feds take over the retailing of groceries. And how about the greedy insurance companies, with their fat profits; let the government take over selling life insurance, and auto and home insurance. How about the fat cats who run the oil and natural gas industries; this would be an easy one, let the Department of Energy (which hasn 't produced one barrel of oil) take over the energy business. And the airlines, and building of homes, building skyscrapers, you name it. Let's eliminate the middle man, and let the government do it! Just like in the automobile industry, and health/medicare, and amtrack! Gee, we ought to consider eliminating that really costly middle man, some call it 'Congress.' We'll just make do with a dictator, er, I mean, President.
