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Obama asks for an amen from students racking up loan debt

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By Doug Powers  •  April 24, 2012 04:51 PM

**Written by Doug Powers

President Obama spoke at the University of North Carolina today about keeping lower interest rates for students, and the speech had a bit of a “debt revival” feel to it:

Obama told the students that since they were born, tuition and fees at colleges have doubled.

“And that forces students like you to take on a lot more loans, there are fewer grants, you rack up a lot more debt,” Obama stated.

“Can I get an Amen for that?” he asked the crowd who cheered, “AMEN!”

“Now, the average student who borrows to pay for college, now graduates with with about $25,000 in debt, that’s the average, he added,

“Some have more,” he said. “Can I get an Amen for that?”

“AMEN!” the crowd who cheered.

“Because some folks have a lot more debt like that,” Obama chuckled, as another person in the crowd shouted, “AMEN!”

Amazingly, I think that last “amen” came from an American who hasn’t even been born yet.

If these students are counting on Obama and the Dems (along with a sizable chunk of the rest of Washington for that matter) to be the ones to deliver them from a life of insurmountable debt, they are in for some serious dissapointment. “OMG Tiffany, we’ve got to do something about our out of control student debt — let’s ask the people who say you have to spend money to keep from going bankrupt for some advice!”

What the students didn’t hear:

“In 2007 I missed two votes to extend the student loan bill that I now want you to believe is the most important things I’ve ever promoted. Can I get an amen?

“More than half of all young college grads are now jobless or underemployed. Can I get an amen?

“According to my own Vice President, government meddling in the free market actually increases college tuition. Can I get an amen?

“Since I took office, over $5 trillion has been added to the national debt — or over $16,000 for every man, woman and child in the United States. Can I get an amen?

“Student loan interest rates are set to double because the then Democrat-controlled Congress voted to do so. Can I get an amen?
*****

President Obama suggested Twitter users make use of the hashtag #DontDoubleMyRate, and boy are they.

**Written by Doug Powers

Twitter @ThePowersThatBe

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Categories: Barack Obama, Health care, New York Times, Paul Krugman