To the Editor:
I am 85 years old, a news hawk, and I spend many hours on my computer each day checking global news. The letter to the editor “Trillions of Dollars” in the Aug. 31 edition of The Jefferson Post prompted me to respond.
The President’s trip to India was a business trip, not a vacation for his wife. This important trip also included stops for the G20 summit in Seoul, South Korea and other countries. The $2 billion cost is totally incorrect and came from an anonymous source in India. This erroneous cost figure was spread all over the world by the Drudge Report, Michelle Bachman, Rush Limbaugh and others in 2010. The other travels and places mentioned are non-specific and I will not comment on those. (Ref. snopes.com President Obama’s Asian Trip and ‘Debunking the Myth: The Cost of Obama’s Trip to Asia,” by CNN)
The student loan program is a great expense to the federal government. However, records indicate that this high cost is not because students are borrowing more money, but is the cost of more students going to college. The $2 trillion college loan program mentioned in the Aug. 31 letter to the editor cannot be confirmed. In my research, I found that the total loan cost for 2009 through 2010 was $110 billion, an average of $55 billion per year. Considering the increasing cost of a college education, let’s add $150 billion dollars per year for year 2011 and 2012. This totals $410 billion dollars, far less than the $2 trillion in the Aug. 31 letter.
As long as the student is in college, pursuing a degree the loan continues. Some students thirst for education and get a four-year degree, a master’s degree then a doctorate, which could take 12 years or more. Presently, with the very high cost of a college degree, only the very rich, like the Romney’s, can afford it. When our country cannot help the middle class get an education, we are deteriorating from within. If the student loan was cosigned, the cosigner is obligated to pay the loan if the student defaults. (Ref. “What America Owes in Student Loans:” NPR)
The George Bush Republican policies cost $5.1 TRILLION in eight years. This averages about $.625 TRILLION per year. The Barack Obama Democratic policies cost $985 BILLION dollars in four years. This averages about $246 BILLION per year. (Ref. “Adding to The Deficit: Bush vs. Obama,” The Washington Post)
Everyone should think twice before we “change horses in the middle of the stream.” Quoting from the letter of Aug. 31: “Out of control. What we need is another change. A better one this time.” I THINK NOT.
Dallas D. Lassen