The Council Has Spoken!! This Week’s Watchers Council Results – 11/04/11

The Watcher’s Council

The Council has spoken, the votes have been cast and the results are in for this week, carved eternally in the akashic records of cyberspace.

I think one of the most despicable and frightening features of the Obama Administration is the president’s apparent willingness to bankrupt the nation to serve his own political ends in a way I don’t think we’ve ever seen before. This week’s winner, Joshuapundit’s President Obama’s Latest Horror – A Trillion Dollar Timebomb For America’s Economy focused on a little noticed but horrendous example that will add over a trillion dollars to the national debt as well as being inflationary. Here’s a slice:

President Obama has just enacted his latest raid on the American treasury. It’s designed to benefit the president by pandering to the student vote at the expense of the American taxpayer.
President Obama has announced that he intends to issue an executive order for the federal government to reduce student loan payments to 10 % of a borrower’s income above the poverty line, and for total debt forgiveness after 20 years, regardless of the outstanding balance.

“We’re just going to do this by ourselves. We can’t wait for Congress, we’re just going to act,” said Education Secretary Arne Duncan on CNN.

And of course, the president is putting this out there at universities all over the country.

To see how insidious this really is, let’s take a look at how this works in the real world. Let’s say Jane Jones borrows $150,000 to obtain a liberal arts undergraduate degree at your typical university. Her repayment is based on what she earns, if anything. Let’s say Jane gets a job as a community organizer at $30,000 per year. Factor out the $10,800 for a single person under the federal poverty guidelines and her total annual repayment is $1,600 per year, or only $133.33 per month.

Twenty years later, she’s only repaid $32,000 on her loan. And the balance? it doesn’t ‘dissolve’ as the Obama Administration’s rhetoric suggests. It gets picked up by the rest of us and gets added to the national debt.

Yes, fellow citizens. If some of the people the president and his minions feel are more deserving than you are want to go to academia for a 4-year funfest and pick up an overpriced diploma in ethnic or womyn’s studies, you and your children are footing the bill.

The tenured radicals installed in the university system working to destroy America one mind at a time always had their six-figure lifestyles subsidized by the rest of us, but the bill just increased a hundred fold.

This week’s non-Council winner, Gates of Vienna’s Slavery and Jihad submitted by Joshuapundit, is a superb and absolutely must-read essay on a frequently unmentioned topic – the relationship between Muslim theology, jihad and slavery, which still exists today in many parts of the Muslim world. Highly recommended.

Here are this week’s full results:

Council Winners

Non-Council Winners

See you next week! And don’t forget to follow us on Facebook and Twitter… ’cause we’re cool like that!


Author: Admin

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *