Was it just a month or so ago when King Obama recommended that all students who were tricked into getting student loans being forgiven those Federal (you and me) loans?

We wondered at that time when the next shoe on the road to Socialism and student loan forgiveness for all of the $1.2 Trillion – I think that’s $1,200,000,000,000 – would fall.

That sound you just heard was one more shoe dropping. If you can open the site below from the WSJ online you will see the King’s smiling face in the center of his “Education Department” as they announce the next step towards wiping the slate clean – caping payments of all student loan debt to 10% of “discretionary income.”

I don’t know about you but right now I don’t have any “discretionary income” and I don’t imagine it will be too tough for the ex-students who took out these loans to make the same claim.

Larry

PS If you suspect the WSJ is too conservative a source and may have slanted the story I have also included the site from YOUR Federal Department of Education. They estimate that only 6,000,000 students will get this new benefit – WHAT – ONLY SIX MILLION. How much damage can one President do before his term is up?

http://www.wsj.com/articles/education-department-to-propose-expanded-student-loan-repayment-program-1436300209?mod=djem10point

http://www.ed.gov/news/press-releases/obama-administration-expands-efforts-help-americans-manage-student-loan-debt