Showing posts with label student loans. Show all posts
Showing posts with label student loans. Show all posts

Wednesday, October 26, 2011

Obama Clearly Works for the Banks, Not the People #ows

The Obama healthcare plan did not address the costs, it simply expanded coverage to more people.  Arguably better than what we had before.  However, the true cost increases to healthcare are in medical liability insurance, super leveraged medical institutions increasing the price of service with new technology, the cost of real estate for hospitals and clinics, the cost of drugs to treat, and the big one is the 30-40% administrative overhead created by the PPO processes.

The banking regulations have yet to put any prominent bankers in jail for FRAUD.  Sidelines folks such as Bernie Madoff could no longer be ignored.

The HAMP and homeowners refinancing plans allow homeowners who are underwater to REFINANCE, creating additional interest charges and INCREASING the overall cost of the home.  This way the banks don't have to take writedowns.  With no prospects for growth in the economy, the value of the homes will not grow in the near future so what's the point of owning? At the same time the mortgage interest deduction is slated for elimination.

The student loan deal actually took the banks out of education costs so that was good for us, but what about the trillion dollar education debt bubble that is ALREADY out there.  With no prospects for growth, jobs are slim, but student debt cannot be avoided.

Can anyone point to ANY Obama legislation that actually REDUCED the debt burden or inflationary burden the American middle class is facing?