Thank you Barack Obama:
The Feds as Creditor
of consumer debt in the U.S. reached $4.4 trillion in November 2021. That is an increase of $1.9 trillion since 2010. The culprit is student loans, which the federal government took on in the Affordable Care Act in 2010.
So Obama and the Democrat Party change the student loan program from banks to the Federal Government doing 100%. The result is a huge increase in tuitions due to student demand. And, unpaid loans at record level since banks collected better.
Now, the Democrat Party wants to just write off the mess but leave the mess on to continue to create uncollectible debt.
These same Democrats say they support the working class by creating $10 gasoline.
