Posts Tagged ‘presidential campaigns’

Prediction: Obama’s midnight pardons will rock the world.

October 27, 2011

On his current campaign swing, President Obama is throwing around tax payer money to rebuild his base.

Earlier this week it was the Federal refinancing of underwater home loans.  Taxpayers will own any defaults.

Yesterday it was the announcement of an executive order to restructure, cap, and eventually forgive student loans after 20 years of payments.

That one troubles me.

Even CNN acknowledges:

The president’s focus on college loan assistance could also help him with younger voters — generally a core Democratic constituency. In 2008, Obama carried two-thirds of all voters ages 18 to 24, according to national exit polls.

Did you know that a provision of the ObamaCare law was to nationalize student loan programs?  Amazing what you can sneak into a 2,000 page unread law.

Now, the Executive branch (i.e. the Obama administration) has wide, unprecedented latitude to grant, structure and forgive student loans.

Presidents have often issued pardons and waivers during their last hours in office.  Think Bill Clinton pardoning uber-tax evader Marc Rich.

I predict that if Obama gets beat in 2012 – a 50 / 50 bet as things now stand – he will issue the mother of all pardons: forgiveness of all Federally held student loans and maybe, while he’s at it, the forgiveness of all Federally held home loans.

Far-fetched?

I don’t think so, and now, I’m on the record.

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