ObamaLoans Up by Almost 3 to 1

The Tea Party Economist reports:

We all know about ObamaCare. But not many people know that there was a second section of ObamaCare. I like to call this ObamaLoans.

There are two laws that constitute ObamaCare. The first one is incarnated by the failed www.Healthcare.gov website: the Affordable Health Care for Americans Act. But that was only half of the law. The other half was the Health Care and Education Reconciliation Act. It gets no publicity. It needs lots more.

As a rider to the Health Care and Education Reconciliation Act was the Student Aid and Fiscal Responsibility Act. It decreased fiscal responsibility. As part of this act, there was the Federal Direct Student Loan Program. This ended the old program of guaranteeing student loans made by banks.

The official goal of the Affordable Health Care Act was to make health care affordable. Its effect has been to drive up health insurance costs for millions of voters.

The official goal of the Health Care and Education Reconciliation Act was to make college more affordable. How? By making loans to students. The effect has been to lure millions of students into long-term debt for the purchase of liberal arts degrees that do not lead to high-income jobs.

The great moments of the Obama regime.