25 September 2012 0 Comments

Using Social Security To Pay Student Loans – An Idea Whose Time Has Come

” About twice as many Social Security recipients are not receiving all of their Social Security payments this year because they have unpaid federal student loans, according to a report by SmartMoney.com. According to a 1996 law, the federal government has the authority to withhold portions of Social Security payments if defaulted debt is owed […]

18 July 2012 0 Comments

Senator Pat Toomey Exposes the Cost Flood Insurance in the Highway Bill

The Senate passed a bill this week to reauthorize highway spending and flood insurance, but I helped remove a new mandate from the bill that could have cost Pennsylvanians millions of dollars. (Note: this bill was passed in the Republican controlled House). Sen. Toomey speaks on the Senate floor about the flood insurance bill  Wednesday, […]

17 July 2012 0 Comments

Republicans Selling Out The Forgotten Taxpayer: $120 Billion – Stephen Moore Is Clear About This Bipartisan Betrayal….Again – Infuriating

Stephen Moore Explains with breathtaking clarity: Congress is expected to approve as early as today a $120 billion highway bill that compromises nearly every budget principle Republicans say they believe in. it’s a bipartisan budget heist with billions of dollars of budget gimmicks that are likely to infuriate Tea Party activists and other fiscal conservative […]

10 July 2012 0 Comments

Student Loan Bubble Part 7: Law School Grads Indentured Servants to the Government

TaxProf Blog is edited by a law school professor, Paul L. Caron, University of San Diego School of Law. (Very professorial judging from his blog photo.) Professor Caron presents a video by an equally professorial law school professor Paul Campos, University of Colorado Law School. In this video from Bloomberg Bloomberg: Law Grads Are Now […]

9 July 2012 0 Comments

Student Loan Bubble Part 6: Richard Vedder – 3 Rationales Refuted and Eight Problems Explained

These programs are commonly rationalized on three grounds: the first, the assurance that more young people receiving a higher education has a positive ” spillover” effect for our country;  Second the grounds that higher education promotes equal economic opportunity (or, as the politicians say, that it is “a ticket to achieving the American Dream”); Third, […]

8 July 2012 0 Comments

Student Loan Bubble Part 5: The Con Loan Forgiveness

Richard Vedder of Ohio State sets out the reasons why Student Loan Forgiveness is not a good idea. The Forgotten Taxpayer agrees.           Here is a piece on forgiving student loans which the Obama Administration is preparing to do adding to national debt. Student loans are approaching a trillion dollars and […]

7 July 2012 0 Comments

Student Loan Bubble Part 4: The Con and Economic Literacy

Student debt is a symptom of our lack of economic literacy RedState 26 October 2011 Kevin Holtsberry “This is also a classic example of politicians blindly declaring something a universal good and then making policy that not only ignores economic reality but undermines the economy and harms people (see, housing policy). We blithely declare that […]

6 July 2012 0 Comments

Student Loan Bubble Part 3: The Higher Education Con

It is foreseeable what will happen to the student loan bubble. Ask youR federal and state elected officials to stop the subsidies. Not only do the subsidies that taxpayers are forced to pay misallocate scare resources, they create a debt burden on recipients that weighs heavily upon them and ultimately  lowers their standard of living. […]

5 July 2012 0 Comments

Student Loan Bubble Part 2: Going In Wrong Direction

Going in the Wrong Direction. The more the government (productive taxpayers) subsidize billionaire, big business, education corporations, both for profit and non profit, the higher tuition and salaries go, and more buildings are built however we fail to see any improvement in student learning or performance. WSJ May 31, 2012   Americans are borrowing more to […]

4 July 2012 0 Comments

Student Loan Bubble Part 1: Soaring Loans Soaring Delinquencies

The Student Loan Bubble Continues to Expand. The Federal Reserve reports that  Student loans soar 275% over past decade By Tami Luhby @CNNMoney May 31, 2012 With the delinquency rates heading in the wrong direction More Student Loans Are Past Due     May 31, 2012 Real Time Economics WSJ