So I just got done watching a piece on Fox Business News about the increase in interest rates for government-backed student loans. I have to tell you, I felt like I was listening to a bunch of whining liberals complain about how Uncle Sam cut their allowance.
GOP strategist Dee Dee Benkie began the segment with the obligatory swipe at the President and congress, but then ignited a bitch and moan session about those poor college students and all the trials and tribulations that weigh down their extremely difficult lives.
The only person who made an ounce of sense was Dennis Kneale, who made a very good point, no matter how inconvenient it was for so many Americans to hear. The bottom line is that interest is supposed to represent risk, but clearly this is not the case when it comes to these loans.
Check out the clip below to catch Kneale’s take on what I’m now calling yet one more government-funded scam.
