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.

Read more at HotAir.com:

Obama’s student-loan program $22 billion in the hole for FY2015 « Hot Air.