TheFrontPageCover
~ Featuring ~
Federal Student Loans: From
'Profitable' to Indebted
Jordan Candler
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Congress Won’t Fund Nuclear Weapons Treaty Unless China, Russia Put in Crosshairs
by Adam Kredo
{ freebeacon.com } ~ Congress is moving to halt funding for a global nuclear arms pact until the Trump administration assures lawmakers that China and Russia will be held accountable for a massive expansion in their nuclear arsenals... according to a copy of the new legislation viewed by the Washington Free Beacon. With tensions between the United States and Russia running high over the impending end of the New Strategic Arms Reduction Treaty, known as New START, Republican leaders in Congress say they are prepared to halt all funding for a new version of this treaty until the Trump administration consents to include provisions combatting both Russia and China's nuclear expansion. To that end, the new legislation would "limit funding for any extension of the New START Treaty or any successor agreement unless the agreement includes the People's Republic of China and covers all strategic and non-strategic nuclear forces of the Russian Federation," according to the bill. China has not been party to past versions of the START agreement, drawing concern from lawmakers who see Beijing expanding its nuclear weapons arsenal without oversight, particularly at a time when the United States is seeking to reduce the size of its own arsenal. Russia, meanwhile, has been working to boost its own nuclear weapons program, including through the construction of intercontinental ballistic missiles capable of carrying a nuclear warhead and nuclear powered cruise missiles. The new legislation, which is being offered before the New START Treaty expires in February of 2021, would address these developments by requiring any new START agreement to be signed by China and also include "all strategic and non-strategic nuclear forces held by the Russian Federation," according to the legislation... What make you think that China or for that matter Russia agree to this agreement..
Minefield? If Barr Has Any Intention Of
Prosecuting FISA Abuses, He Should
Stay Clear Of IG Report
by Sara Carter.
Hunter loose lips-Biden’s China Deal Partners
Include Mobster Whitey Bulger’s Nephew,
hanoi-John Kerry’s Stepson
by Brent Scher
{ freebeacon.com } ~ Former vice president loose lips-Joe Biden's son Hunter loose lips-Biden partnered with infamous mobster Whitey Bulger's nephew and former secretary of state hanoi-John Kerry's stepson for his lucrative business deal with the Bank of China... according to reporter Peter Schweizer's latest boloose lips-ok. Schweizer points to the business deal with state-owned Bank of China, a $1.5 billion private equity investment, as a possible reason why the current presidential candidate has adopted a conciliatory attitude toward China. The lucrative deal between the Bank of China and Hunter loose lips-Biden's company was inked in 2013 just weeks after loose lips-Joe Biden brought his son along on an official trip to China. Schweizer also lays out the interesting cast of characters who partnered with loose lips-Biden for the deal, such as the Thornton Group consulting firm, which is headed by James Bulger. The son of Massachusetts state senator Billy Bulger, James is named after his uncle James "Whitey" Bulger, who was killed in prison late last year after a decades-long career in the mob that landed him on the FBI's Most Wanted list. Also partnered with loose lips-Biden is Chris Heinz, the stepson of hanoi-John Kerry. loose lips-Biden and Heinz control Rosemont Seneca Partners, the private equity firm that received billions of investment dollars from China. A representative for Heinz says his involvement in the deal has been "misreported." He says that neither he nor his firm, Rosemont Seneca Partners, had any role in the deal. He says an unaffiliated second firm, Rosemont Seneca Bohai, is the firm doing business with Bank of China, and that Heinz is not involved. The representative also says Heinz has never been to China. Schweizer, whose latest book Secret Empires examines the tactics used by political elites to accumulate wealth while in power, calls the timeline of Hunter loose lips-Biden's business dealings with China as his father shaped foreign policy from the White House "shocking," but points out that nobody knew enough to raise any questions....
AG Bill Barr Appoints U.S. Attorney John
Durham to Review Origin of Russia Investigation
by sundance.
Unapologetic worthless-Rashida Tlaib
issues a statement to make your skin crawl
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Federal Student Loans: From
'Profitable' to Indebted
Jordan Candler: The Congressional Budget Office recently revealed some startling new figures regarding student loans. But first, let’s rewind. In 2017, the CBO — clearly looking through rose-colored glasses — stated that the government-managed student-loan program would garner a respectable $114 billion in revenue over the ensuing 10 years. Then, in 2018, that revenue estimate nosedived to just $8.7 billion. In other words, the $11.4 billion in estimated annual profits cratered to less than $1 billion.
But even that estimate proved ridiculously sugarcoated.
Now, the CBO is calculating a $31 billion deficit over the next 10 years. A Bloomberg Government report parsed this development as “a shift from past CBO forecasts that the government would profit from the program.” That’s not merely a shift. That’s a deviation of epic proportions.
Bloomberg Government provides some key explanations for the seismic shift:
While some of the increase can be attributed to interest rates, the bulk of the change has come from the cost of the almost $1.5 trillion in federal loans students already have outstanding. More loans are in default, and less is being collected on outstanding loans, according to the the department’s budget request. In addition, more borrowers than anticipated are enrolling in income-driven repayment plans. These allow borrowers to pay a percentage of their income for a set number of years, after which the remainder of the loan is forgiven.
Of course, anybody who understands the inescapable realities that come with federal spending already knew that student loans would not be profitable. As we explained back in 2016, “Originally, the loan forgiveness program was meant to be available only for those students who applied for loans in 2014 and after, but then Barack scumbag/liar-nObama retroactively extended the benefit.” Predictably, that made a bad situation all the worse. As Bloomberg Government further notes, “About 30 percent of borrowers with direct federal loans, the most common type, were in income-driven repayment programs in fiscal 2018, a 29 percent increase from two years before, according to the Education Department.”
Now here’s the real kicker. Presidential candidates like Sen. Elizabeth dinky-Warren claim that universal “free” college is the way to ameliorate the problem. The cost of Warren’s proposal? At least $1.25 trillion. The definition of insanity is doing the same thing over and over again. In this case, the definition of insanity is letting politicians who created this mess throw taxpayers even further under the bus. ~The Patriot Post
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