Yet Another “Public Option” To Watch For

Playing catch up here but wanted it for future reference.

While student loans are already heavily subsidized by tax dollars, now it appears Congress is poised to completely take them over and back them with your money (I know this sounds familiar since we just went through it with subprime loans).   The bill is HR  3221 and has made it through the House.  Matheson voted for it, while Bishop and Chaffetz opposed (Congressional vote record available here).  Right now it is waiting Senate action, which has, ironically, stalled due to the healthcare “public option” fiasco.

Ed Morrisey at HotAir put up a post on this issue a few months ago and provides a good round up of what is going on (as well as some background links – I highly recommend checking out his post and the links), for those interested.  Unless you like government market manipulation with your money as collateral, it won’t hurt to oppose yet another takeover.

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