It’s a near-perfect metaphor: We’ve got Congress in debt up to its eyeballs and the President’s cutting the cost of government subsidized student loans.
It’s classic. And unstoppable.
Just before the election Obama’s going to make millions of new friends: He’s going to lower their student loan debts by increasing the government debts and there won’t be a politician in sight who’ll say a discouraging word.
Politically, the problem is all but unsolvable. Washington needs to cut spending. But a sure-fire way for a fellow to get re-elected is to put money in people’s pockets.