When it comes to making money and running things efficiently, the government does not have a good record. Other than waging war and the police force it manages, there are few things that are run well by the politicians in Washington or in each state. If it weren’t for the government’s ability to print money and tax us, it would have been out of business long ago.
It used to be said that the post office did a good job but now they are losing money every quarter and having to raise their prices as a result. Even with the price of stamps going up, the post office still continues to operate in the red. Private competitors like Fed Ex and UPS are thriving and doing successfully what the post office once did.
With a record that is so poor in executing any kind of business, is there any reason why we should let the government take over the college loans industry in our country. President Obama has put up a bill that will be addressed sometime in 2010 that would remove all student loans from the private sector and make the US government the issuer of such loans. This looks like another case of the politicians thinking they know more than the rest of us.
One of the most compelling reasons why this should not go through is that we would be giving the government more power than it already has. Our children’s fates would be in the hands of someone behind a desk in Washington who would be deciding which of our children get loans and thus which of them get to go to college. Is this really what we want?
As American citizens, we need to be very careful to protect our freedoms and not let them be eroded from us. If we are to not stand up for our rights, there will come a day when we look back and wonder how we got to the point where the government controls everything. Student loans need to remain in the private sector where they have a better chance of being administered fairly and were the government does not have total control over them.
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