Should have seen this coming

So now President Obama has come up with yet another brilliant idea to "stimulate" the economy under his "We can't wait" campaign.  The big idea is to put money back in the pockets of struggling college students.  The plan is to cap students' loan payment rates at 10% of their income that extends beyond the poverty line and also limiting the term of the loan to 20 years.  Like most of the President's ideas, it sounds like a good plan, in principle.  But let's do the math, shall we?  If a student is accepted into a major university, we'll use George Washington University as the example, and gets a loan to pay for a Bachelor's degree, it will cost $212,000.  Let's then say that this same student, upon graduation, gets a public sector job making $25,000 a year.  After the poverty line level of  $10,890 is subtracted, their repayment amount works out to be $1,411 a year.  After 20 years, all things being equal, the total amount repaid works out to be $28,220.  Keep in mind the original loan was for $212,000.  That leaves $183,780 unpaid.  So who has to cover that cost?  You guessed it, the taxpayers, you and me.  But it gets better.  Obama will also allow students to refinance and/or consolidate their loans for more favorable terms, which would reduce the amount paid even further, sticking us for a greater percentage of the balance.  What's worse is, Obama has more authority than usual (not that that's ever stopped him before) in this department.  As a rider to the Affordable Health Care Act, more commonly known as Obamacare, the government now has full control of student loans.  So Obama doesn't even need to side step Congress on this one, because it's already been passed.  This will only make it easier on the students.  It does not adversely affect the universities, since they will have gotten their money up front.  Nor will this lower the cost of college tuition.  This hurts the taxpayers, many of whom had student loans at one time and paid them off in full because they didn't have this "proposal" at the time.  I stated in my last post that Obama was following the Cloward and Piven model of collapsing our economic system.  This is further proof that he is doing exactly that.  Obama is also doing this to appeal to young, struggling college students, a large percentage of his voter base that swept him into office in 2008, to in essence buy their votes for his re-election in 2012.  Hopefully, these students put some of that college education to use and realize that what may benefit them now will hurt them later and all the while this nation is suffering under the irresponsible, self-serving policies of this administration.  Please, college students, I beg you, tell me you're not so blind and stupid that you can't see through this.  This President must be stopped, his policies must be revoked, and above all, he must not be given a second term in office.