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    « Maniacs! | Main | I'm Just A Bill: ReMix! »

    March 24, 2010

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    derek

    well, they didn't forget, looks like they forgot to implement it before 2014.
    politically, it doesn't matter that much, the GOP still isn't going to run on repealing healthcare BECAUSE of provisions like this, no matter when they kick in.

    practically, i'd prefer to see this asap.

    derek

    if you're more of a cold political operative though, you could simply make an executive order, then DARE an insurance company to sue about being required to give some kid coverage.

    Garrett

    Well, at least now that it's passed, we can find out what's in it...

    So, we made sure to restrict who can make loans to students but forgot to cover kids. Why is this not surprising?

    derek

    well, we didn't really restrict who can give loans to students. We just stopped subsidizing private companies that do it.

    heh, the public option didn't end up in healthcare but it damn sure ended up in loan reform

    jaye

    I have a feeling we will find all kinds of nasties in this legislation, just like we did with the stimulas bill..aka porkulus bill.

    derek

    and this is how conservative memes start. nevermind the fact full protections definitely start in 2014, nevermind the fact kids denied insurance still can get insurance in exchanges, that doesn't matter because no one is going to read the article, everyone is just going to read the blog's headline

    Karl Hungus

    The GOP doesn't care about insurance for childrens. Their attacks on S-CHIP made that abundantly clear.

    Joyce

    DUH. the brilliant progressive/liberal mind on display.

    James T.

    Hey Huggy Bear, I hear a bunch of mean ole bad liberal states are having to drop their S-CHIP programs because "gasp" they gots no money!

    Evil heartless lefties!

    Joyce

    So derek and Hungus... who's your Democratic overseer. Are they aware of your loose statements?

    TheBigShmoog

    They didn't restrict them...just stopped them.

    That's like saying the plumbing on my toilet isn't restricted, just stopped up.

    derek

    if taking away the prospect of private banks giving out risk free government backed student loans means they are stopped from giving out student loans, then i suppose you could say that. but in the real world, loans don't get government backing. if banks can't handle not getting corporate welfare anymore, then so be it.

    Bryce

    The dirty little secret kids is this: The difference between the interest rate in the money that the Feds borrow, and the rate that the Feds charge students for school loans is about 4.5%. We'll call this the vig in keeping with the tradition of Chicago politics. This money is not used to pay down the National debt, it is not used to help fund dis-advantaged students. It is , naturally, used to help pay for Obamacare and make the bill look more deficit neutral. Which is why, of course it is included into this bill, and why it is part of the CBO calculations. Like I said before, garbage in, garbage out. So let me recap to see if I've got this straight. My children have to pay virtually the same interest rate to the Government that they were paying to private lenders. And because the Government will not invest the proceeds of the these loans back into the local community, but rather divert them into other Federal programs. Then at the end of the loan, because the Government spent the money that my children paid back on other programs, my child is then left with higher taxes to pay down the increased debt that this diversion of money caused. Sounds logical to me, where do I sign up. It's just another pool of cash that the Congress went after to make this turd bill seem less stinky. Note to Congress: we're not all stupid, most of us get this.

    Bryce

    And Derek, simple lending standards would put an immediate end to the need for Government backing. I don't know, just spitballing here, maybe forward thinking companies could offer scholarships and tuition assistance to students in highly sought after career fields.... oops, I Forgot...it's already happening ..... and without Federal involvement. My daughter has scholarship offers coming out of the woodwork because she is a Nursing student. The Government is rarely the solution to our day to day challenges.

    derek

    a good deal goes to disadvantaged students actually. loan reform saves like 70 billion. around most of that goes right back to education. 18 goes to healthcare. besides, it isn't the interest that's important. I doubt the government will make much money off the actual loan program at all. What you're missing is the savings that comes from not paying billions of dollars to private banks every year. the government goes from spending 7 billion a year in subsidies to spending ZERO. that's a lot of extra money.

    Bryce

    I guess that's kind of my point. Using the posted numbers 18 billion is taken away from education and used to reduce the financial impact of Obamacare. This is just one of many fincial slight of hand tricks to make the legislation appear to reduce the debt. If you take from one program to reduce the impact of another, there is no net gain. It's like using a charge card to pay off a loan. You still owe the same amount, more actually because of the un-important interest that was refered to. I just don't have the ability to do the mental gymnastics required to reconcile the supposition that this idea is good fiscal policy.

    derek

    money is money. it's not a financial slight of hand if you take money from your beer budget and spend it on the rent.

    derek

    let me amend that analogy. it's not financial sleight of hand if you drink less then take money from your beer budget and spend it on a new expense.

    Bryce

    It is if you told your family that rent was X dollars and the only way that it costs the amount that you told your family is if you take the money from other budgets to make it so.

    Joyce

    derek. you are fooling yourself if you believe none or any of the budgeting of this bill is not "sleight of hand".

    Perhaps the kids will "get it" when their taxes are increased, insurance premiums are increased... or they're unable to get private insurance. And perhaps the college crowd signing up for government loans will not see that government "adjust" the interest owed on those loans... to pay the higher costs associated in coming years.

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