Tag Archives: Obama

The Great Student Loan Scam, by Doug Short

From Doug Short, on a guest post from theburningplatform.com, introduction from The Burning Platform:

Doug Short quantifies the amount owed to the government for student loans, but he doesn’t discuss the absolute fact that hundreds of  will never be repaid. The Obama administration is solely responsible for this disaster and they don’t give a shit. Keeping millions of morons in school artificially lowers the already fake unemployment figures. Doling out billions in loans to functionally illiterate dumbasses is a perfectly acceptable liberal solution.

The government is hiding the true disaster in plain sight. Obama has the balls to declare that “only” 11.6% of student loans are in default. Now that’s funny. Here are the facts:

•  Total student loan debt outstanding of $1.32 trillion.
•  The Federal government is owed $972 billion, up from the $945.6 billion in Doug’s article.
•  Loans in official default of $51 billion.
•  Loans officially in repayment of $400 billion – the other $500 billion isn’t due because the students are still in school or the government says they don’t have to pay because they have a good excuse (like the dog ate their homework).

According to the government that makes the default rate a high, but reasonable 11.6%. One problem. The total amount of debt that should be in repayment is $600 billion, not $400 billion. There is $200 billion of student loan deb that should be being paid back, but the government has either allowed forbearance or deferment. The reasons allowed for these categories are unemployment, non-full time job, or the ever popular financial hardship.

So in layman terms, that means that $200 billion is in DEFAULT. They aren’t paying because they can’t pay. Therefore, the true default rate is 38%, not 11.6%. Obama and his minions prefer the BIG LIE when reporting any statistic. And what’s worse, this is after shifting $200 billion of debt to their new and improved repayment programs with Orwellian names like: Income-contingent plan, Income-based plan, Pay As You Earn.

Obama and his Keynesian acolytes are doing everything in their power to shift hundreds of billions in bad loans onto the backs of taxpayers. Every time one of these fraudulent for profit diploma mills goes bankrupt or is charged with fraud by the government, they relieve the debt of the morons who were stupid enough to enroll in these criminal institutions. Relieving their debt means you pay. Easy peasy. Who could have possibly figured out the University of Phoenix, Corinthian, Devry, ITT, and the rest of the for profits were a fraud?

Obama continues to dole out over $100 billion per year in future bad debt to people intellectually incapable of succeeding in college, with no oversight, no realistic chance of getting repaid, and no concern for the massive budget implications. The losses to taxpayers will be in excess of $300 billion. So it goes.

Guest Post by Doug Short

Pop Quiz! Without recourse to your text, your notes or a Google search, what line item is the largest asset in Uncle Sam’s financial accounts?

A) U.S. Official Reserve Assets
B) Total Mortgages
C)Taxes Receivable
D) Student Loans

The correct answer, as of the latest quarterly data, is … Student Loans.

To continue reading: The Great Student Loan Scam

Bibi Cancels Meeting With Obama, Demands More Money Instead, by Daniel McAdams

From Daniel McAdams at antiwar.com:

On his own and through his proxies in what is called the US “Israel Lobby,” Benjamin Netanyahu expended enormous political and financial capital in attempt to sink President Obama’s nuclear deal with Iran. Though the deal is already done, the pro-Likud lobby in Washington with the backing of a significant number of elected Members of the House and Senate is still determined to turn back the hands of time to a US war-footing against Iran. They may well succeed, particularly as most presidential candidates have promised to rip up the Iran deal on day one.

But Netanyahu is no dummy. Once he saw the writing on the wall – even if only temporarily – he decided to make lemonade from Obama’s lemons. “OK, you are going to go through with this deal with Iran? Pay me! You want rapprochement and trade with Iran? Pay me. You’re not going to invade Iran? Pay me. First I am going to humiliate you, then you are going to pay me.”

So Bibi’s plan B is now in full motion. First he blindsided the White House by suddenly canceling a meeting with Obama scheduled for this month. Much preparation had already gone into the meeting and a last-minute cancellation sent a very clear message to the White House.

But the coup de grace is Netanyahu’s masterful manner of cancellation. He didn’t bother to notify the White House of his change of plans. Instead, the news came out today in a report by the liberal Israeli newspaper Haaretz.

White House Press Secretary Josh Earnest tried to put a brave face on Bibi’s backhand, but his explanation lacked believability:

There’s no reason to consider this a snub. I think the question is simply a matter of scheduling. We would have preferred to have heard about that in person before reading about it in media reports. I think that’s just good manners.

Timing is everything, and in this Netanyahu is also a master. As Obama was reading in the media that his March schedule just got a bit lighter, Vice President Joe Biden was on a plane to Tel Aviv with the White House’s latest offer of significantly increased US military aid to Israel as a way of placating Israel’s anger over the Iran deal. Last year’s $3.1 billion in US military aid to Israel was no longer acceptable, Netanyahu made clear. Instead Biden is expected to swipe the national credit card for a super-size contribution of between $4.2 and $4.5 billion in military aid – in addition to the customary half billion in missile defense assistance and another billion worth of military equipment stored in Israel.

Touché, Bibi!

http://original.antiwar.com/daniel-mcadams/2016/03/09/bibi-cancels-meeting-with-obama-demands-more-money-instead/

Are key Republican leaders in D.C. being blackmailed? by Wayne Allyn Root

SLL thinks the things that happen in Washington out in the open are organized crime. Who knows what happens sub rosa? Wayne Allyn Root at personalliberty.com raises an interesting possibility, one that has probably crossed the minds of many readers and should not be dismissed:

Hi. I’m Wayne Allyn Root for Personal Liberty. I have the most important question of a lifetime for all of you. Are key Republican leaders in D.C. from the Senate, House and Supreme Court being blackmailed?

Tell me you haven’t thought the exact same thing. Something is very wrong. Something smells rotten in D.C. — rotten like a dead fish left at the front door of a congressman’s office by the Obama crime family, rotten like a photo of a Supreme Court justice with his robe down at his ankles.

Because what’s happening just isn’t normal. Please tell me how it’s possible that President Obama and his socialist cabal suffered the most massive and historic defeat in modern political history only nine months ago and, since then, they’ve gotten everything they’ve ever wanted handed to them on a silver platter. Does that make sense to you?

How’s it possible that the GOP — the party that won in a massive, historic landslide — gained nothing and won nothing? Not one victory. Zero. Zilch. Or in a language Democrats understand, “Nada.”

Not only did Obama’s party lose badly, it lost everywhere from top to bottom. Senate, House, state legislatures, mayors, governors — you name it. They lost the governorships of deep-blue Maryland and Massachusetts. They were destroyed.

And it was all about Obama. He wasn’t defeated; he was repudiated. Democratic Senate candidates refused his help. Democrats would not stand next to him on the same stage. Democrats treated Obama like a New Jersey toxic-waste dump. Democrats treated Obama like a rotten fish.

Since then, conservatives have lost everything. Name something we won or achieved after that smashing victory? Name one thing. Name anything. I dare you. I double dare you.

And you don’t think someone has photos of GOP leaders in bed with little boys?

Far-fetched? Really? Think two words: Dennis Hastert.

Somehow, the government knew he was taking his own money out of his own bank account. I didn’t even know that was a crime warranting an interview by the FBI. But this government knew. That’s because they know everything.

To continue reading: Are key Republican leaders being blackmailed?

Obama Administration Sets New Record for Censoring and Denying Access to Government Documents, by Michael Krieger

Remember the “most transparent administration in history?” Obama has told so many lies SLL has lost track, but add that claim to the pile. From Michael Krieger at liberty blitzkrieg.com:

War is Peace
Freedom is Slavery
Ignorance is Strength
Censorship is Transparency

Many of you will have heard about how the White House recently celebrated National Freedom of Information Day by removing a federal regulation that subjects its Office of Administration to the Freedom of Information Act. While interesting, it turns out that was merely a sideshow to the real news; that fiscal 2014 marked a record year for government censorship of documents that are supposed to be available on request.

Specifically, data released Tuesday showed that the U.S. government responded to 647,142 requests, a 4% decrease over the previous year, and that the backlog of unanswered requests at year’s end surged by 55% to more than 200,00.

More from the AP:
WASHINGTON (AP) — The Obama administration set a new record again for more often than ever censoring government files or outright denying access to them last year under the U.S. Freedom of Information Act, according to a new analysis of federal data by The Associated Press.

The government took longer to turn over files when it provided any, said more regularly that it couldn’t find documents, and refused a record number of times to turn over files quickly that might be especially newsworthy.

It also acknowledged in nearly 1 in 3 cases that its initial decisions to withhold or censor records were improper under the law — but only when it was challenged.

http://libertyblitzkrieg.com/2015/03/18/obama-administration-sets-new-record-for-censoring-and-denying-access-to-government-documents/

To continue reading: Obama Administration Sets New Record

Obama Versus America, by Thomas Sowell

I had Doctor Sowell for a labor economics class at UCLA. He was one of the three brightest professors I had during college and graduate school. He has written a number of worthwhile books on labor economics, racial problems, and government idiocy, and he writes regularly for the townhall.com website. From his latest on that site:

In his recent trip to India, President Obama repeated a long-standing pattern of his — denigrating the United States to foreign audiences. He said that he had been discriminated against because of his skin color in America, a country in which there is, even now, “terrible poverty.”

Make no mistake about it, there is no society of human beings in which there are no rotten people. But for a President of the United States to be smearing America in a foreign country, whose track record is far worse, is both irresponsible and immature.

Years after the last lynching of blacks took place in the Jim Crow South, India’s own government was still publishing annual statistics on atrocities against the untouchables, including fatal atrocities. The June 2003 issue of “National Geographic” magazine had a chilling article on the continuing atrocities against untouchables in India in the 21st century.

Nothing that happened to Barack Obama when he was attending a posh private school in Hawaii, or elite academic institutions on the mainland, was in the same league with the appalling treatment of untouchables in India. And what Obama called “terrible poverty” in America would be called prosperity in India.

http://townhall.com/columnists/thomassowell/2015/02/04/obama-versus-america-n1951768

To continue reading: Obama Versus America

Obama Bedtime Stories, by Michael Ramirez

Memo To Obama: Man Up And Tell Bibi To Stay Home, by Justin Raimondo

From Justin Raimondo at davidstockmanscontracorner.com:

Sneaking around behind the President’s back to invite a foreign leader to address Congress – specifically for the purpose of undermining how the chief executive conducts US foreign policy – would normally be regarded by patriotic conservatives with unmitigated horror. Imagine, for example, if a Democratic Congress had invited Daniel Ortega to address the assembled solons back in the 1980s, when President Reagan was (covertly) funding and supporting a contra movement to overthrow the Sandinista regime. Heads would’ve exploded all across the political spectrum, not just on the right. While this example is somewhat more dramatic than House Speaker John Boehner’s invitation to Israeli Prime Minister Benjamin Netanyahu – for the specific purpose of undermining the nuclear talks with Iran – it isn’t by much.

The Boehner ploy has split the pro-Israel community down the middle, with such stalwarts as the Anti-Defamation League’s Abe Foxman denouncing it as “ill-advised” and former US Ambassador to Israel Martin Indyk – founder of the staunchly pro-Israel Saban Center at the Brookings Institution – saying:

“Netanyahu is using the Republican Congress for a photo-op for his election campaign, and the Republicans are using Bibi for their campaign against Obama. Unfortunately, the US relationship will take the hit. It would be far wiser for us to stay out of their politics and for them to stay out of ours.”

The shock waves are extending in all directions in response to this act of political sabotage, reaching even the far-right shores of Fox News, where anchors Chris Wallace and Shepherd Smith engaged in a most unusual dialogue, pillorying the usually sacrosanct Israelis. In response to a reading of the above Indyk quote, Wallace averred:

“And to make you get a sense of really how, forgive me, wicked, this whole thing is, the Secretary of State John Kerry met with the Israeli Ambassador to the United States for two hours on Tuesday, Ron Dermer, the [Israeli] ambassador, never mentioned the fact that Netanyahu was in negotiations and finally agreed to come to Washington, not to see the president, but to go to Capitol Hill, speak to a joint session of congress and criticize the president’s policy. I have to say I’m shocked.”

Digging the dagger in a little deeper, Smith commented that “it seems like [the Israelis] think we don’t pay attention and that we’re just a bunch of complete morons, the United States citizens, as if we wouldn’t pick up on what’s happening here.”

http://davidstockmanscontracorner.com/memo-to-obama-man-up-and-tell-bibi-to-stay-home/

To continue reading: Memo To Obama: Man Up And Tell Bibi To Stay Home

Is Putin Creating a New World Order? Oil Price Blowback, by Mike Whitney

An intriguing hypothesis: the US and Saudi Arabia are driving the price of oil lower to drive Putin from power, a goal for which Obama will sacrifice the domestic fracking industry. From Mike Whitney, at the online magazine counterpunch.org:

“If undercharging for energy products occurs deliberately, it also effects those who introduce these limitations. Problems will arise and grow, worsening the situation not only for Russia but also for our partners.” – Russian President Vladimir Putin

It’s hard to know which country is going to suffer the most from falling oil prices. Up to now, of course, Russia, Iran and Venezuela have taken the biggest hit, but that will probably change as time goes on. What the Obama administration should be worried about is the second-order effects that will eventually show up in terms of higher unemployment, market volatility, and wobbly bank balance sheets. That’s where the real damage is going to crop up because that’s where red ink and bad loans can metastasize into a full-blown financial crisis. Check out this blurb from Nick Cunningham at Oilprice.com and you’ll see what I mean:

“According to an assessment from the Federal Reserve Bank of Dallas, an estimated 250,000 jobs across eight U.S. states could be lost in 2015 if oil prices don’t rise. More than 50 percent of those job losses would occur in Texas, which leads the nation in oil production.

There are some early signs that a slowdown in drilling could spread to the manufacturing sector in Texas… One executive at a metal manufacturing company said in the survey, “the drop in crude oil prices is going to make things ugly… quickly.” Another company that manufactures machinery told the Dallas Fed, “Low oil prices will drive reductions in U.S. drilling rigs, which will in turn reduce the market for our products.”

The sentiment was similar for a chemical manufacturer, who said “lower oil prices will adversely impact margins. Energy volatility will cause our customers to keep inventories tight.”

States like Texas, North Dakota, Oklahoma, and Louisiana have seen their economies boom over the last few years as oil production surged. But the sector is now deflating, leaving gashes in employment rolls and state budgets.” (Low Prices Lead To Layoffs In The Oil Patch, Nick Cunningham, Oilprice.com)

To continue reading: http://www.counterpunch.org/2015/01/06/oil-price-blowback-is-putin-creating-a-new-world-order/

Sharyl Attkisson vs. Obama’s Police State, by Justin Raimondo

From Justin Raimondo, at antiwar.com:

If the revelations of Edward Snowden didn’t convince you that we’re living in a police state, then Sharyl Attkisson’s book, Stonewalled: My Fight for Truth Against the Forces of Obstruction, Intimidation, and Harassment in Obama’s Washington, is the clincher. Indeed, it is more convincing insofar as the reporting that came out of Snowden’s disclosures never definitively demonstrated how such powerful technology in the hands of unrestrained government has led to the targeting of political opponents by government officials. In Attkisson’s book, the ultimate Orwellian nightmare comes true….

It’s 3:14 in the morning when Sharyl Attkisson – star CBS reporter – is wakened by a noise: her computer has come to life, unbidden – again. It’s been happening a lot lately: and it’s not just her desktop Apple. The other night her Toshiba laptop clicked on all by itself. And her phones are so afflicted with clickings and other mysterious noises as to be unusable.

Attkisson, a 20-year veteran of the CBS newsroom, has been investigating some pretty hot stories: “Fast and Furious,” the code name for the Bureau of Alcohol, Tobacco, and Firearms (BATF) program that let US guns “walk” over the border and into the hands of Mexican drug cartels, and the Benghazi incident, among others. She knew the administration considered her an adversary (as these emails prove), an obnoxious pit bull out to trip them up, but she never imagined they would go so far as to spy on her. It’s the fall of 2012, and Snowden’s secrets are still under wraps. A friend with a connection to “a three-letter agency” expresses admiration for her coverage of Benghazi-gate and then clues her in:

“’You know, the administration is likely monitoring you – based on your reporting. I’m sure you realize that.’ He makes deep eye contact for emphasis before adding, ‘The average American would be shocked at the extent to which this administration is conducting surveillance on private citizens. Spying on them.’”

Incredulous, Attkisson asks: “Monitoring me? In what way?”

“Your phones. Your computers. Have you noticed any unusual happenings?”

Come to think of it, she has

Her friend from the three-letter agency checks out her home, specifically the exterior near the Internet connection box – where he discovers an extra fiber optics line. And when she contacts Verizon to find out what the mysterious wire is doing there, their odd behavior raises all kinds of alarm bells …

CBS brings in technical experts and eventually Attkisson learns the truth: some entity with very sophisticated equipment and top notch skills has penetrated her computers, her phones, her life …

As a conscientious reporter working for CBS News in the Age of Obama, Attkisson is in a sensitive position: she is constantly fighting New York managers whose ideological agenda precludes covering certain stories. And it’s not just the pro-administration politics of liberal executives – it’s the complete lack of interest in doing any sort of investigative reporting, or broadcasting any material that deviates in the slightest from what everyone else is doing. Attkisson rails against the corruption of American journalism that has turned it into a corporate instrument, a form of advertising, and an outlet for government propaganda rather than a tool for the pursuit of truth.

Why would the Obama administration pick Attkisson to spy on? The answer is partially to be found in Chapter 2, where she talks about her investigation into the Justice Department’s “Fast and Furious” scheme. As Attkisson peels away the layers of untruth that coat the story of how the BATF deliberately let lethal firearms fall into the hands of Mexican drug cartels, the story reads much like the foreign policy disasters I’m used to covering in this space: some Washington bureaucrat comes up with a “brilliant” scheme that reflects both the hubris and the carelessness of our ruling elites, with deadly consequences all around. Aside from boosting the personal careers of the policymakers, their not-so-hidden agenda is also designed to make an ideological point – in the case of “Fast and Furious,” the alleged need for stricter gun control legislation.

From “Fast and Furious” to Benghazi to the politics of the Obamacare launch, one thing is clear: Attkisson is a real thorn in the side of this administration, one the White House and some of her own bosses at CBS would just love to see gone – or, at least, effectively neutralized.

The really scary part of this book is the chapter entitled “I Spy,” where Attkisson details the evidence that her computers and phones have been compromised. CBS seems weirdly unfazed by the news that the government may very well have intruded on their internal communications network. The real shocker comes when Attkisson discovers that someone has planted classified government documents in the depths of her computer – proof positive someone is trying to frame her. Finally, her computer starts to do some really crazy stuff, erasing data before her eyes even as she videotapes it: as if whoever is watching her is trying to intimidate her, saying “See? We can play with you right out in the open – and there’s not a thing you can do about it!”

Mysterious white vans show up in her Washington, D.C. neighborhood, hanging out on the corner where she lives: the neighbors notice it, too.

All this was going on before Snowden revealed the extent to which the government is spying on its own citizens: one can only imagine the full extent to which Ms. Attkisson’s life has been penetrated by the authorities. And if they’re doing this to her, what are they doing to other reporters who may be on their blacklist?

As a historical document, this book details the decline and fall of American journalism in the age of total surveillance. When America is on the cusp of turning into a police state, how does a reporter with an old-fashioned devotion to truth do her job? Stonewalled gives us the grim answer to that awfully depressing question.

Health Care Law Recasts Insurers as Obama Allies, by Robert Pear

Look who’s become Best Friends Forever.

From Robert Pear, The New York Times, 11/17/14:

WASHINGTON — As Americans shop in the health insurance marketplace for a second year, President Obama is depending more than ever on the insurance companies that five years ago he accused of padding profits and canceling coverage for the sick.

Those same insurers have long viewed government as an unreliable business partner that imposed taxes, fees and countless regulations and had the power to cut payment rates and cap profit margins.

But since the Affordable Care Act was enacted in 2010, the relationship between the Obama administration and insurers has evolved into a powerful, mutually beneficial partnership that has been a boon to the nation’s largest private health plans and led to a profitable surge in their Medicaid enrollment.

The insurers in turn have provided crucial support to Mr. Obama in court battles over the health care law, including a case now before the Supreme Court challenging the federal subsidies paid to insurance companies on behalf of low- and moderate-income consumers. Last fall, a unit of one of the nation’s largest insurers, UnitedHealth Group, helped the administration repair the HealthCare.gov website after it crashed in the opening days of enrollment.

“Insurers and the government have developed a symbiotic relationship, nurtured by tens of billions of dollars that flow from the federal Treasury to insurers each year,” said Michael F. Cannon, director of health policy studies at the libertarian Cato Institute.

So much so, in fact, that insurers may soon be on a collision course with the Republican majority in the new Congress. Insurers, often aligned with Republicans in the past, have built their business plans around the law and will strenuously resist Republican efforts to dismantle it. Since Mr. Obama signed the law, share prices for four of the major insurance companies — Aetna, Cigna, Humana and UnitedHealth — have more than doubled, while the Standard & Poor’s 500-stock index has increased about 70 percent. Continue reading