Obama’s Student-loan Program $22 Billion in the Hole for FY2015

We all knew that having the government take over the student load industry was a bad idea. And now we’re beginning to learn why: It’s a gaping crater in the budget. We’re already 22B on the wrong side of the balance sheet, with perhaps 10 times that amount over the next 10 years.

To put this in perspective:

In the federal budget, just how big a hole would $22 billion be? As Michael Grunwald points out at Politico, that’s “larger than the annual budget for NASA, or that of the Interior Department and EPA combined”

Sounds pretty good, right? Let’s not kid ourselves here…the impending debt balloon from “entitlements” is only the beginning…we must ALSO examine state and local pensions and these student loans as well.

About the Author: Eric M

Eric uncomfortably admits that until about 15 years ago, he was a political "free rider", always thinking that others would do the heavy lifting to keep America on course. After watching both democrats and republicans steer us FAR in the wrong direction, Eric knew he had to get involved. Now working with Richmond Tea Party to advance conservative principles, Eric serves on the Board of Directors and as a resource for "all things technology".