I have not even bothered to try to understand the details of Obama’s changes to the Student Loan program that he claims will help those impacted by his “recovery.”
A few of his other populist programs have been all PR with no actual effect:
- No income tax on phantom income when you sell your house with a short sale.
- Home Affordable Modification Program which was trumpeted as a solution to help people stay in their homes by paying lenders to reduce principle or interest.
- Home Affordable Foreclosure Alternatives that was supposed to make the torture of a short sale more bearable and give you a few bucks to help you move.
What all of these programs have in common is that virtually no one qualifies or is actually helped by them.
Big press conference, claim credit and the press almost never follows up with any results. As long as the intentions are good, that is all that matters. Was the “Road to Hell” a shovel ready project?
Mike Flynn posted an article from The Atlantic which says that “The monthly impact of the president’s new effort for most Americans paying off college debt will be between $4 and $8″. As phony as all his other programs.