Well, if it makes you feel any better, rolled into the health care bill was a major reform of the way student loans are run. Up until now, the banks handled student loans, earned major revenues from their interest, yet were off the hook whenever there was a default. Now, the loans will come directly from the government, without the banks acting as middlemen. The revenues gained from this streamlined process will be directed to increased PELL grants, for lower income students, leaving them less saddled with debt when they graduate.
Now I know some of you will say, "great, just more governmental bureaucracy to deal with." But for the most part, the biggest area of bureaucratic controls had to deal with the recovery of defaults, which already was a governmental function. This change will literally save the taxpayers billions of dollars each year. The only ones hurt by this shift in policy will be the banks, who will lose this "can't lose" money maker.
Just remember, Obama has only been in office a little over a year now; give him a reasonable amount of time to prove himself. He chose to expend his surplus political capital on changing the health care system, which was something no President--Republican or Democrat--has been able to do since it was first attempted by (R) Theodore Roosevelt. And it was necessary. Health care has been an increasing drain on the entire American economy, sucking up more and more of our GDP. As such, our wages have been growing increasingly noncompetetive in the global marketplace, as they have had to increase in accord with the rising health care costs.
But yes, there is still a lot more to do for our President, our Congress, and our society, if we are to remain the dominant economic power in the world. Stay tuned.
