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Obama Would Rather Forgive Student Loans Than Create Jobs for Graduates

BEGIN TRANSCRIPT

RUSH: Here it is from the AP: "One in two new graduates are jobless or underemployed."  Young skulls full of mush devoid of job prospects.  Maybe the best education they can get is that liberals lie.  Liberals want people dependent.  They want you in those nostalgic jobs because you're gonna end up depending on them for your pension. You're gonna end up depending on them for your health care.  That's what they want.  They don't want you entrepreneurial. They don't want you creative. They don't want you taking care of yourself. They don't want you being self-reliant.  There's no need for them if you pull that off.  This is another teachable moment.  In 2008, parents were told by their children why Barack Obama was the future.  In 2008, children told their parents why Obama was the answer. 

In 2012, parents can tell their children, "Barack Obama has heaped so much debt on you and us, combined with your student loans, that the future is unraveling everything Obama did!"  That's what must happen.  Our future must be devoted to unraveling everything Obama has done in these three-and-a-half years.  That's what your future is, graduates.  That's what you need to learn.  And guess who's in charge of the student loan program now?  Obama himself! Nobody ever intended for college graduates to be $200,000 in debt coming out.  Nobody ever intended that, but now it's happened -- and guess who's not disappointed by it?  The people that hold the loans (i.e., Obama).

You're indebted to 'em.  That's exactly what they want.  It's a shame. 

Debt is not good.  Public or private. 

And the only way out is to cut spending, like a lot of Republican governors are trying to do.  Grow the private sector.  That's the way out.  "One in Two New Graduates are Jobless or Underemployed."  The only way that's gonna change is to get government out of the job market, pure and simple.  In fact, it's funny.  Most of the news today is on how Obama is once again running around promising to find ways to help college students pay their tuition loans.  Is that what you want your life to be?  Obama, he's got the answer for you to pay off your student loan. 

What a life goal: Pay off your student loan!

He ought to be focused on the real problem: There aren't any jobs for college graduates, thanks largely to his policies.  But in this story from the AP, "One in Two New Graduates are Jobless or Underemployed," they have an analysis of government data shows that about 1.5 million or 53.6%, of bachelor's degree holders under the age of 25 last year were jobless or underemployed, the highest it's been in 11 years.  This AP analysis found that "while there's strong demand in science, education, and health, arts and humanities are floundering."  Imagine that! The humanities and the arts are floundering (which is also no surprise), but what kind of courses does the left encourage? 

Arts and humanities and conflict resolution and political correctness and all that.  In none of this story will you find any blame for the left or Obama or their policies.  It's just the job market.  You know why it's bad? The private sector sucks.  That's what this story is all about.  One in two new graduates are jobless or unemployed because the private sector sucks.  Capitalism sucks.  Let Obama take more control and we get better.  That's the point.  And then there's this from Mediaite: "Young voters trending more Republican, according to a new poll by the Public Religion Research Institute and the Georgetown University's Berkley Center for Religion, Peace and World Affairs." 

Young voters trending more Republican.

BREAK TRANSCRIPT

RUSH:  Looky here! What a coincidence. Barack Obama just warned the students at the University of North Carolina that interest rates on federal student loans will double if Congress doesn't act by July 1st.  They'll go from 3.4% to 6.8%.  That's word-for-word what Sandra Fluke just tweeted herself, and of course she is represented by operatives inside the White House.  So here's the guy in charge of student loans who... Let me just tell you something. Let's talk a little politics.  I don't care what Congress does in July, I don't care.  By October, Obama is gonna announce forgiving student loans or the interest.  You watch. As a reelection ploy to get the youth vote, he'll do something to wipe out student loan debt, forgive it or whatever, saying, "It's unconscionable! It should never happen."

You wait.  He's president. He can do that. That's one of the things we're up against.  If he wants to forgive student loans, if he wants to forgive underwater mortgages, he can do that, too, folks.  He can say he wants to, and then if the Republicans fight him on it, guess what?  He's president.  This is what we're up against.  He can do this kind of stuff.  Sandra Fluke just tweeted: "#DontDoubleMyRate. Many students will see the interest rate on Fed #StudentLoans increase if Congress doesn't act by 7/1." That's an exact tweet from Sandra Fluke.  Obama just said the exact same thing word-for-word to the students at the University of North Carolina.  Sandra Fluke is just a poor, isolated, alone little college student worried about her contraception at Georgetown.  But now she's represented by the flacks in the White House -- Hilary Rosen, Anita Dunn -- and they're coordinating with Obama, scaring students about the interest rates on their student loans.

BREAK TRANSCRIPT

RUSH: David Plouffe is acting as president, Axelrod is the policy guy, and Obama is out raising the money.  Obama is out playing golf.  Obama is out flying around the country.  Obama today campaigned at the University of North Carolina, where the crowd, we should point out (according to Jessica Yellin at CNN), is 9,000.  They're in an arena that holds 9,000 people.  Four years ago they were in an arena that was full that held 22,000.  So math would tell us that's less than half the crowd.  That's less than half the number of people this year as opposed to four years ago, the yutes of America.  Now, I want to read to you a tweet. (Have audio sound bite 41 standing by.) I want to read to you a tweet from Sandra Fluke.  We all know who Sandra Fluke is. 

She's the young, 30-year-old Georgetown University student who is courageously and bravely fighting for contraception, at Georgetown and wherever else it can be provided, at no charge.  Sandra Fluke today, mere moments ago, in fact (within the last 45 minutes), Sandra Fluke tweeted the following: "Many students will see the interest rate on Fed #StudentLoans increase if Congress doesn't act by 7/1." So contraception isn't enough.  Some people want their education paid for by other people, too.  Well, what a coincidence!  Sandra Fluke tweets, "Many students will see the interest rate on Fed #StudentLoans increase if Congress doesn't act by 7/1."  What a coincidence!  Obama warned the students at UNC, within moments of her tweet, the following...

OBAMA:  On July 1st -- that's a little over two months from now -- that rate cut expires.  And if Congress does nothing, the interest rates on those loans will double overnight.  So I'm assuming a lot of people here have federal student loans.

STUDENTS: (smattering of applause)

OBAMA: The interest rates will double unless Congress acts by July 1st.

RUSH:  There was a smattering of applause, but wasn't a lot. Well, I'm the one that can't hear.  Did it sound like there was a lot of applause there?  Okay.  Here's the thing.  The reason there wasn't a lot of applause is because their parents are paying for it, they're not paying for it.  But some of them are gonna have to pay for it, some of them are mounting up these student loans when they get out of school, they're insurmountable, be paying for it the rest of their lives.  Obama runs student loan program.  Laying this off on Congress?  Obama took over the student loan program from private sector banks! You young people need to know this.  Barack Obama and the federal government run the student loan program. 

And, by the way, what is it? Defaults on the student loans are at a rapid rate, but if you hang on long enough, isn't...? Oh, I forget this.  After so many years, isn't the student loan just wiped off the books? I forget how many years it is.  Don't quote me on that.  I might have that wrong.  What would college costs be -- would it cost less -- if illegal aliens had to pay out-of-state tuition rates?  There are a lot of factors in why tuition goes up. You young people ever noticed that price of gas goes up a dime and everybody raises hell.  The price of contraception goes up and everybody really raises hell.  Price of milk goes up and mothers raise hell.  The price of tuition goes up, and nobody raises hell, except the students. 

But government never gets on education for overcharging its customers. 

We never hear about Big Education being greedy. 

We never hear it.

"Tuition goes up? Fine.  Cool.  That's where our buddies are.  That's where our liberal professors are."

So tuition goes up, "Here's your student loan." 

But I find it very coincidental that within 30 minutes of each other, Sandra Fluke -- who, by the way, is being advised by Anita Dunn and Hilary Rosen. Anita Dunn and her PR firm and Hilary Rosen are advising Sandra Fluke ever since the contraception thing five weeks ago, or six now.  So she has a tweet:  "Many students will see the interest rate on Fed #StudentLoans increase if Congress doesn't act by 7/1."  Within minutes Obama says the same thing.  Student loans are forgiven after 25 years. That's what it is. And Obama wants to reduce it to 20.  Student loans are forgiven after 25 years.  Now, in his speech at the University of North Carolina Obama said that the increased interest rate would mean another thousand dollars in debt a year for those with student loans. 

Now, how come reducing that isn't seen as taking a thousand dollars from government?  Any time taxes are lowered, that means that government's doing with less.  We can't have that!  But now Obama wants interest rates to the government -- they run the student loan program -- cut? He wants government to do without money?  Folks, I'm telling you, this is smoke and mirrors. You want to hear the rest of what he's talking about?  I'll tell you. I made a joke.  He's out there playing golf. He's going on Jimmy Fallon and all these other shows while Plouffe is the president and Axelrod's the policy guy.  Here's Obama. He drug a band, the Dave Matthews Band with him.  He had Dave Matthews... Get this.  He had Dave Matthews, he had Jimmy Fallon, he had Stephen Colbert, he had a couple other guys, and he still couldn't draw half the crowd he had four years ago!

With Dave Matthews, Jimmy Fallon, and Stephen Colbert, he still couldn't draw half the crowd that he did. 

We have sound bites from this.  Here's the first...

OBAMA:  Later today I am getting together with Jimmy Fallon --

STUDENTS: (cheers and applause)

OBAMA: -- and the Dave Matthews Band --

STUDENTS: (cheers and applause)

OBAMA: -- right here on campus. We're gonna tape Jimmy's show for tonight. So I want everybody to tune in! --

STUDENTS: (silence)

OBAMA: Make sure it has high ratings.

STUDENTS: (smattering of laughter)

OBAMA: (nervous chuckling) That's a Dave Matthews fan right here!

RUSH:  The President of the United States trolling for ratings on the Jimmy Fallon show. (interruption) Well, Snerdley's asking, "How demeaning can...?" I don't know.  Just the president of the United States is trolling for audience and begging people to watch him on the Jimmy Fallon show with the Dave Matthews Band.  Now, I think this next bite is why the crowds are half the size.  Listen to this.

OBAMA:  I don't want this to be a country where a shrinking number of Americans are doing really, really well but a growing number of them are just strugglin' to get by.  That's not my idea of Amer'ca.  I don't want that future for you; I don't want that future for my daughters.  I want this forever to be a country where everybody gets a fair shot and everybody's doing their fair share, and everybody's playin' by the same set of rules.

RUSH:  Then get out of the way, sir. 

You're the obstacle.  Your policies are the obstacle. 

Get out of the way. 

Basically, you have Barack Obama running against all the traditions and institutions that have defined our greatness.  Barack Obama is running against America here.  He's running against... I don't even know how many of these kids are paying taxes?  He's making a speech here to people that this doesn't even relate to yet.  Here's the next bite that we have for you.

OBAMA:  Michelle and I, we've been in your shoes.  Like I said, we didn't come from wealthy families.  So we... When we graduated from college and law school, we had a mountain of debt.  When we married, we got poor together.

STUDENTS: (laughter) 

OBAMA: We added up our assets, and there were no assets.  And we added up our liabilities, and there were a lot of liabilities.  Check this out, all right?  I'm the president of the United States. 

STUDENTS: (applause) 

OBAMA: We -- we only finished paying off our student loans about eight years ago.  That wasn't that long ago.  And that wasn't easy.  Especially because when we had Malia and Sasha, we're supposed to be saving up for their college educations, and we're still paying off our college educations.

RUSH:  There you go.  There you go.  Whine and moan about his student loans.  Don't show any leadership.  The woman who raised him was the vice president of a bank!  Barack Obama went to private schools all of his life.  The woman who raised him was the vice president of a bank.  He got into Harvard; he got into Columbia.  He's trying to poor-mouth it here.  This is a man who's never had a nine-to-five job, by the way, folks.  Anyway, he's losing the youth vote.  We just had the story.  The youth vote is abandoning Obama.  "One in Two New Graduates are Jobless or Underemployed."  I'm telling you, you've gotta trust me.  It is not cool inside the White House.  It's not going at all the way they intended. 

The fundraising is raising a lot of money, but not nearly as much as everybody had thought.  And this is actually kind of embarrassing and pathetic, to be trolling for audience for the Jimmy Fallon show.  Have Jimmy Fallon and Steve Colbert.  I think Colbert is there. I think I read that.  Maybe not, but Dave Matthews is there and they're all attracting half the crowd that he did on his own four years ago.  And now whining and moaning about his student loans. (interruption) I didn't hear the bigger-than-life reverb there, but it'll be back.  It's back, the bigger than life, the God reverb, ah, it shows up now and then.  You can guarantee it will happen at the Democrat convention.

END TRANSCRIPT

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