Church Doctrine – Imbeciles Who Financed Utopia Will Find Out Why Socialism Does Not Pay

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Imbeciles Who Financed Utopia Will Find Out Why Socialism Does Not Pay

2011 Mike Church

Hey folks, its Mike Church with today’s Church Doctrine.

In his latest, shameless attempt to bribe enough voters to win re-election, Dear Leader, Chairman MaOBama has promised to fulfill the nationalization of the student loan industry contained in ObamaCare and then undo the part of the loan where the recipient actually pays back the borrowed money. isnt being President under our Constitution fun!? On my radio show Tuesday, Congressman Ron Paul said Obamas move is illegal because technically ALL regulations written by the executive branch are illegal. Yet, Obama is actually due some credit here that he refuses to take: He and First Lady Michelle actually paid back their $120,000 in student loans.

Obama told this story to a campaign crowd in Denver and said it as though he had committed an error in judgement. What he actually did but refuses to promote, was to honor the contract he made with his loan provider. But that would not sit well with the tens of millions holding worthless degrees and the student loans used to earn them. Obamas plan will allow those with outstanding loans to cap their liability to 10% of a debtors income over the poverty line and then limiting the life of the repayment to twenty years. If you are $100,000 in hock for a student loan and you make $18,000 flipping buns at Mickey Ds then your yearly payment would be reduced to $711 and a total payback of $14,220, leaving taxpayers holding the knapsack for $85,780 and some wonder why we are $15 trillion in the hole. Do you think the IRS would forgive $85k in taxes due them because you were once a student?

Heres an even better question, how long before the same Obama team tells those holding our OTHER outstanding loans on the national debt that they need reduce their principal to 10% over last years profits? Far fetched you say? This is EXACTLY what Europe just did to its private, sovereign debt holders who may not be students, but were just schooled in the perils of financing utopian dreams of socialists, like Obama.

TheKingDude

Host of the Mike Church Show on The Veritas Radio Network's CRUSADE Channel & Founder of the Veritas Radio Network. Formerly, of Sirius/XM's Patriot channel 125. The show began in March of 2003 exclusively on Sirius and remains "the longest running radio talk show in satellite radio history".

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