Page 289 - Beers With Our Founding Fathers

A Patriot’s view of the history and direction of our Country

statement that his core socialist belief is that ‘We can tax our way to

prosperity’ and more unequal taxation by unresponsive
representation at hand.

The government provides a financial guarantee for several
programs. These programs are designed to make it easier for a

person to acquire a home loan, student loan or other life-
improvement leg-up. These programs are not funded by the

government, only guaranteed in the event the borrower fails to pay
the capitalist venture – often a bank or similar lending institution. In

2012 a government guaranteed private loan program was changed
that will severely and negatively impact the economy in about five

years – about the time the first of loan payments become due. This
is the college student loan program. It is only a start of many things

to come. The student loan program was developed to encourage
lending institutions to loan their investment money in our future. A

student would borrow several thousand dollars, usually each year of
college, at a fixed percent with the first payment due at a fixed time

after graduating college and then continued over a period of usually
ten years. The only dog the government had in this fight was if

there was a default and only if the lending institution could not
collect. At that time the government would pay the lending

institution the principal and interest lost, and also assumed
collecting on the defaulted loan. Think of it as the bail bonding

agent discussed earlier in this work – they paid the bail for a small

fee (call it interest) and as long as the defendant appeared in court,
no other money was due (call that his monthly payments). If the
defendant failed to show (or make the payment) the bail was

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