Obama's new program for us to bail out people with student loans is a pig in a poke. Obama has requested $7.6 billion for the first year, but Education Secretary Arne Duncan says they don't know what the actual cost will be. "We'll figure that out on the back end," he said.
Think I'll try that one next time I want to buy a big luxury car and install a luxury swimming pool and landscaping at my house. The loan officer will ask how I intend to pay for these things. "We'll figure that out on the back end," I'll say. Hey -- if it's good enough for Obama, shouldn't it be good enough for me?
"Obama expands program offering student loan relief." The Dallas Morning News; June 10, 2014; p. 6A.
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