Just when you thought all the Obamacare lies were out in the open, another one shows itself. Obama and the Democrats incorporated the college loan program profits into Obamacare to cook the books.
Obama nationalized college loans and made a $41.3 billion profit in the fiscal year ending September 2013. The government made this profit off taxpayer subsidized loans for students who are going deep into debt for degrees that may or may not help them get a job. That’s not bad enough.
The Obama Administration made the college loan program part of Obamacare. They did that so the profits from the loans would be added in with Obamacare figures when the CBO computed the numbers for Obamacare. It made Obamacare look better than it was.
The Democrats had to make the numbers work. After all, Mr. Obama promised Obamacare would add ‘not one cent to the deficit.’
Obamacare is a complete fraud based on lies and bribes. They knew that it was going to be more expensive than promised and they concealed the truth with legerdemain.
Cato Institute scholar, Neal McCluskey, uncovered the Administration’s sleight of hand and was interviewed by Daily Caller’s Ginni Thomas.
via the Daily Caller who have the exclusive:
“The change in student loans was part of Obamacare — and why was it part of Obamacare?” McCluskey said in an exclusive interview with The Daily Caller. “So that the profit they were supposedly making from the student loans could then be plugged into how much money would come from Obamacare, so it didn’t look like it cost as much.”
The full interview will be posted at the Daily Caller on Monday.