Opps. I agree with Obama.

President Obama this week signed into law a plan that gets the federal government more directly involved in the student loan market, but just 35% of Americans think that’s a good idea. Most don’t think it will save the billions of dollars the president says it will, either.

A new Rasmussen Reports national telephone survey finds that 49% of adults think it’s a bad idea for the federal government to get more directly involved in the student loan market. Sixteen percent (16%) more are not sure about the plan under which students will borrow money directly from the government rather than through a private bank.

Those who say they or a member of their family has a student loan are evenly divided over the new plan: 41% say it’s a good idea, while 42% don’t like it.

In the ceremony signing the new law on Tuesday, the president said it will save the student loan program about $68 billion “in the coming years,” according to USA Today. Forty percent (40%) of Americans believe it is at least somewhat likely that cutting private banks out of the student loan process will save billions of dollars. That includes 20% who say it’s very likely. (Rasmussen Reports)

This information was actually new to me. I was unaware that Pell grants, and such, were issued through the banking industry—for a fee. I thought that they came from the government. And they should, if they should be issued at all. I am, also, aware that they are unconstitutional, as are all government handouts.

If they are to be handed out, my only concern is who will, now, be controlling them? Will they only be handed out to students whose intention is only to go to a prestigious Communist law school in Chicago? Or New York? Or Kawliforna? Or perhaps to those students whose doctorate will be in the evils of carbon dioxide?

When the Republicans take over (if elections are forthcoming), will those grants only go to those who will engineer the next generation of naked body scanner? Or those Christian colleges who teach Republican political science1.

The problem is when you do have a government handing out money, they usually only hand out those funds to those who are likely to vote for them. Thus, we have a welfare system. We keep hearing threats about Social Security that that government has made people depend on. We keep hearing that they have to control any health care you get, even though it was they who caused insurance rates to rise by not letting people buy across state lines. We should be able to garner a lesson from the mess they made of the Kennedy Medicare insurance plan.

I just wonder what would happen—what a society we would have—if people were just allowed to keep enough of their own money to buy the health care they need or to attend the college of their choice.

Or, in the immortal words of Dan Quayle, “You take the UNCF model that what a waste it is to lose one’s mind or not to have a mind is being very wasteful. How true that is.”


1 Not to be confused with the Republican form of government outlined in the Constitution of the United States. Republicans are not that type of republican; with the notable exception of Ron Paul.

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