Bachmann: Obama College Loan Move Abused Power

October 27, 2011 6:03 PM

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ST. PAUL, Minn. (AP) — Republican presidential candidate Michele Bachmann is ripping a move by President Barack Obama to ease student loan debt as an “abuse of power” that will give people incentive to dodge debt.

Bachmann reacted Thursday to a decision Obama announced a day earlier to cap payments for some college loan borrowers and forgive payments for others after 20 years. He used executive authority to accelerate a law that wasn’t supposed to go into effect until 2014.

The Minnesota congresswoman made her remarks during an education forum put on by The College Board and News Corp.

Appearing by satellite from Minneapolis, Bachmann told the gathering that the loan breaks could push costs onto other taxpayers.

She called it a “moral hazard” because it relieves people of responsibility for debt they’ve accumulated.

Bachmann: Obama College Loan Move Abused Power

The Crux of the Buscuit

Bachmann is sucking air. Hope all the students out there are listening to her……

GDL

Oh! She’s just jealous ‘caus she dosn’t get to abuse power

djp

OH give it UP bimbo…
marty

Michele thanks for the info. I agree with everything you have to say. God bless you Michele and enjoy Iowa.

Tom

@ marty

You must be just a delusional as Bachmann is! If you agree with everything that Bachmann says you much get corrected just as much as she does!

David J. Conklin

>”I agree with everything you have to say.”

Dittohead.
sis

The students will still be responsible to payback their loans. Why should students be paying 7 percent and more on their student loans when you can go to a bank and get a mtg for alot less than that.We helped out the banks when they were in tough shape. Why can’t we help students to manage paying back their loans???? We have farm subsidies, we have daycare subsidies, we have subsidies for this and that. But when it comes to higher education, too bad, soo sad????? What happened to “to get a good job, you need to get a good education”? We have kids in college with student loans, we as parents have taken out parent loans also, they are working part time while going to school and stay up late studying to maintain good GPA’s. We can pay the pro’s big $$$ to play, we are considering new stadiums for them to play in. They are rich, we earn less than middle class. What does it hurt to cut the loan interest rate for students and give them a longer pay back time??? I hope some of you can relate to this and be more understanding!!!!

B. Responsbile

Because they signed contracts. Why not help out everyone who regrets a contract they signed an unilaterally forgive all debt? Oh that’s right, he need those votes in the coming election…politics as usual!

G Dog

Bachman is a joke. If you are among the 3% who approve of her, you should have your voting rights suspended for being dumber than a tomato plant.

JMJ

YOU ARE AN IDIOT!! Every post you make is delusional and you never base your opion on facts. GET OVER YOURSELF!!!

Caitlin Prodoehl

bachmann shut up. Its about time the government did something to help out education. We students have more and more debt b/c universities get less money from the state /federal thus raising our tuition higher and higher about time we get a break.

JMJ

To bad…..you all are bunch of spoiled cry baby brats. The rest of us signed a contract, honored it and payed our bills.

Mayhem

pay your own bills.

signed contracts?….tisk…..ask a pro athlete how meaningful a signed contract is, powderhead.

llp

ah IOWA
idiots
Out
Walking
Around
Bob

Representative Bachmann, thank you for pointing out how American students will abuse their country by attempting to attain an education without being straddled with lifelong debt. Students should see the US banking sector as an example, while only in search of profit, made sure not to renege on its responsibilities and transfer its debts load to the American taxpayer. I am happy know that Minnesota’s 6th district selected such a brilliant political intellect as its representative.

Beth Realistic

Bob, you are mad at the wrong people. The debt is so high because the cost is so high. Because the salaries and benefits of the university employees are so high. And the work requirements for these tax payer employees are so low. Because they are more concerned with diversity, sports teams, research (that never delivers a pay back.) The higher ed system is broken…corruption and greed!

Bob

Beth, I would like to explain why I am critical of the hypocrisy of individuals such as Rep. Bachmann who openly defend the audacious demands of a super-wealthy minority, while criticizing, what I believe to be a fundamental right of every American, the opportunity to attain an affordable higher education. Especially in an age, where it is exceedingly challenging to earn a living wage without a college degree.

No one is above critique and I agree with you that this should include universities. However, while expenditures on stadia seem bizarre, most of the increases in tuition are due to cutbacks in taxpayer money to higher education, and yes as you point out, in part due to increasing labor costs. The salaries of these employees are not high, they simply allow these individuals to be part of the middle class. In fact their salaries are not keeping up with inflation, so their real value is decreasing. What is increasing is the cost of their health insurance and that is partly due to the fact that we are utilizing a for-profit healthcare system instead of a common pool, and because big agribusiness corporations run the USDA and block the information that consuming copious amounts of meat, cheese, and processed foods, makes Americans sick.

While I agree with your critique of sports teams, I fail to understand how concern for diversity is affecting tuition costs. As far research never delivering a payback,it is quite possible that we would be a century behind in terms of technology if not for university labs because they are the primary source for the vast majority of basic science research, in all fields of exploration. Are we objectively far better off because of all of these advances? That is another discussion. However, their influence is undeniable.

Having studied and worked in higher education and research I can tell you from my experience that while ego can play a major role, financial greed and corruption are far less rampant than in other spheres of the economy.

I believe that students should not be forced into debt just to receive an education. The personal stories of students crushed by loans can be difficult enough. However, as a society and country we will tremendously suffer if we continue to allow growing obstacles to higher education.

Our government is refusing to raise taxes on the super-wealthy minority, it has taken out loans that the public will have to repay, to give money to big banks to make sure they would not lose any money on the schemes and “investments” they contrived. Of course subsidizing the oil industry (the most profitable corporations), and trillions spent on wars to support the military-industrial complex are just some other examples of corrupt and greedy people buying politicians for a fraction of the money that is ultimately transferred to them. Now that is a good investment!

So, why care so much about accessible higher education? Without scientists, engineers, architects, and even philosophers and historians, we will not be able to create anything, much less analyze what we are doing and how we got here.

Tom

@ Bob

Bachmann brilliant? LMAO! You are just as delusional as she is!

Brillant people don’t get corrected as much as she has!

Really

Tom…Bob was being sarcastic…

Beth UnRealistic, have you held a teaching job at a college level? Do you know first hand what the people do? How hard the work? Do you even have a college degree? Or do you get your information like the rest of the brainless drones from faux news? I suspect is the last one.

Tom

@ Really

Sorry! Me bad! I didn’t see his second posting last night! But people who vote for Bachmann especially in the 6th district vote for her because of her views on social issues more than they do economic issues.

Danny Urban

One of the reasons I moved out of the 6th district Bob. Heck, my auto insurance dropped 25%. Must be due to the high crime and drug dealers they have up there.

Mark

@ Danny Urban

They are low because no one lives there. Your district has the highest rates of foreclousures, per capita in the state. Another “do nothing but obstruct” Republican politician. They must have all heard no alot growing up, because it seems that is all they can say as adults.
Tom

@ Danny Urban

If i remember right in the last election tha Bachmann was in she got about 50% or higher of the vote. And that means more than half of the people in the 6th district are as nuts and delusional as she is. But if you were to ask them what has she done for them during her time in office they will tell you it isn’t what she hasn’t done for them, but she has the same views as them on social issues, etc. Conservatives do not like self thinkers or people who use common sense for anything!

angus

The idiotic blathering from the conservatives continues on and on and on. We are rapidly approaching a society where only the rich can get an education and the divide between the rich and the poor/middle class gets wider each year.

How many outstanding minds are being wasted because they are poor and can’t get an education? Oh, the conservatives say they are poor because they are lazy and dumb. Such a nice reflection of their Christian values which they proclaim for everyone to hear. Have a nice Judgement Day
Oh where oh where

Have all my facts gone?
Oh where, oh where can they be?
Fox puts thoughts in my brain,
that cause such a strain,
’cause reality’s too hard for me.

face the facts

I dropped Bachmann in the toilet again this am and watched her fricken skanky face swirling this way and that
Thing is – she’s the terd that never flushes away. Tomorrow it will be more of the same anti-whatnot bullchit. She has not a single idea that would ever work in her teeny tiny little brain….but she’s got a mouth that don’t quit. Cuuum on skanky – open it wide

Indy

All these years conservatives have been trying to give Liberals a bad name. Conservatives are ending up giving a bad name to themselves. Why do the Republicans all have loonies for candidates? Because the Democrats know better and want nothing to do with them.

Tom

@ Indy

Why do the Republicans all have loonies for candidates? Because common sense and self thinkers are not allowed. You must be a total nutcase to be accepted!

rossie

who sucking more government money every congressional term ?
answer : Michelle Bahamanianiac and doing #$%&* in congress. is about time for this female clown to stop sucking our taxes on her paying form of salary
Thomas Keim

backman and pawlenty couldn’t even get the job market going poor wages poor jobs too many illegals and the minneapolis and st paul city gave loans to homgs and other asians to start business up and down university ave while veterans got nothing

JMJ

You can thank the Fed for the illegals. Look Odumba is suing states who are trying to do something about it. The loans programs came from Clintons administration. Before you shoot your mouth off do your homework.

Shirl Mann

And her accepting subsidies for her gay husbands 2 clinics and the family farm isn’t abusing her power?
j speedbag 64

bow down to your president bachmann you communist

just sayin’

speedbump

landing gear

Get a wire brush and clean out your kitty Bachmann. It’s back to the flower business for you. Splash some cologne on that smelly flapper too.
Paul Solinger

Well if she doesn’t like what he’s doing, she should just run for president herself! Oh, wait, that was already an epic fail on her part. I would suggest she run for congress, but she’s been a pathetic failure there, too. I know! You can give speeches that nobody will listen to! There, that’ll show him.
Pavel

Bachman complains about anything the President does. You would think she would be in congress to say these things, but she has not been there for months. According to the voting records, she has voted in Congress only one day since early summer. What a joke she is! She should complain about anyone taking money from the government? She takes it every month and will take it in retirement benefits when she leaves Congress. She can’t leave too soon for me.
TomK

I would say this to Ms Bachmann, “It is YOU and your collegues who are abusing the power that was ENTRUSTED to you to work for the American people. For the past 2+ years you have done everything in your power to negate ANYTHING that this president has asked for to stimulate growth in this p/poor economy. NO ONE has all the answers, not congress, not the president, nor do the economists. But we have to TRY something! You on the otherhand want only to feather your campaign hat AND I might add your looming retirement nest egg. SHAME ON YOU!

JMJ

The Congress was democrat the 1st two yrs Odumba was in office……….Get your facts straight. The idiots who don’t look up anything when it comes to politics on the page is just amazing. Do same d@MN research.

Mark

@ JMJ

How quickly the conservatives on this board stoop to name calling.

Just think sir, only 5 more years to deal with President Obama, and then 8 more years of a differant Democratc President in the White House.

Oh, did I forget to mention? We plan on taking back both Houses as well as the Judicial Branch too.

Pulled the lever

I dropped Bachmann in the toilet again this am and watched her fricken skanky face swirling this way and that
Thing is – she’s the terd that never flushes away. Tomorrow it will be more of the same anti-whatnot bullchit. She has not a single idea that would ever work in her teeny tiny little brain….but she’s got a mouth that don’t quit. Cuuum on skanky – open it wide
Pierre Garbonzo

If President Obama said the sky is blue, Michelle Bachman would say -Obama is wrong the sky is yellow. And she’d find a way to say”Obamacare” she loves that one. What an idiot
Rocks in her head

Who cares, the baggers even want her to go away.
smb

She doesn’t care if Obama is abusing his power. She’s worried that he will actually do something to help the economy. And that the people are going to realize that unlike the President the Republicans have been spending all their time on abortion, gay marriage, and rigging the 2012 election.

If the economy is on an upswing next year the republicans lose and they would rather tank the country than have that happen.
2 sided and both with points

Only one part I will challenge or rather question.
And for the record I have 4 in college right now
It seems to us that a lot, and I truly mean a lot of the debt the kids are incurring is somewhat of their own doing. Your choice of schools, in-state vs out-state tuition, borrowing for room and board and the “fun” things that many roll into the loans…
It is often excessive borrowing that need not be incurred – not to mention so many do not work even pt jobs or in the summers which is seriously stupid.
In talking with other parenst the are starting to now acknowledge the same things. The debt these kids are taking on is serious – and it could be in most cases actually only 50-60% of what they are actually borrowing if they used common sense and better judgement. A 2 year college and finished up at a 4 year, loving in state and presto. You just saved 50% right there. Sadly – most kids and parents buy into the “fun” part of college. That is fine – just do not look to the rest of us to pay for your fun. We set limits – we have 4 big bills – we do not expect you or other taxpayers to fund our fun times either.
Go to college – get a degree but be smart in doing so. We all covered the first 13 years of your public schooling – you are now on your own.

JMJ

Thank you for some common sense!!
Expensive-sure. They elected the choice made

Well said – we had a set amount we were able and willing to assist with and not a cent more. The kids used cost and affordabilty as a primary item in ranking the who/how/what can I do. 2 of 3 stayed in state and our daughter wanted the “atmosphere” of an outstate school.
The boys have loans under $10K still owed and she has $93K. She will be the very first to say it wasn’t worth it in hindsight but she had a lot of fun and it was a great time. That is all good – but she is also the only one unemployed and deeply in debt. The boys are NOW having their fun when they are able to afford it. We will try to assist her in some ways until she finds employment but it will be in this manner. She is welcome home to save and she will have to work somewhere at least part time in the interim. Both can be done without harming her life. We honestly dreaad the thought but I sure as hell would never expect others to pay her bills either in any shape or form.

more thoughts I missed

side note – I also do not feel she has any position or right to attack Obama’s plan without someone coming up with something. else. They need help – they do NOT need loan forgiveness. Stretch the loans and terms as long as it all gets paid back. They spent it – they reap all the rewards – they do owe the bill. That said – work with them aslo. And require debt and loan counseling as ongoing condition of it. Parts will in time sink in

Bob

@ 2 sides

I understand your argument, but I think it is critical to differentiate education and “fun”. I wholeheartedly agree that the public should not be financing your children’s trips to the bar. However, that should not be lumped together with a basic right to higher education. Your children should be free to get an education anywhere in the country and there should be a small subsidy to help them with food and shelter. Those should be separate. I understand that you favor attending a community college and then transferring to a 4 year university. If a child is a strong student, she/he should not be limited to such a path, and reject an acceptance to a top level university.

Students should be responsible for discretionary spending on drinking or iphone costs, but they should not have to pay an 8% interest rate on those expenditures. More importantly, I have trouble believing that 40-50% of your children’s loans were taken out to cover such items.

Unfortunately, despite working, not drinking, and being fortunate to receive a number of scholarships/financial aid, while ONLY taking out loans to cover part of my tuition for undergraduate and graduate/professional school, I was left with over a hundred thousand dollars worth of debt at 8% interest.

Do you think that is right?

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October 27, 2011 6:03 PM

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