Obama Administration Reaps $51 Billion Profit From Student Debt Loans


The Obama administration is reaping a record $51 billion profit from student debt loans, according to a Congressional Budget Office report made public last week — and reported by the Huffington Post.

The report says that the CBO increased its 2013 "fiscal year profit forecast" for the Department of Education by 43% — to $50.6 billion — from its previous estimate of $35.5 billion. Overall, the Department of Education has made $120 billion in profit from student debt loans — over the last five years.  

This is painfully ironic, giving that Obama won 67% of the millennial vote in 2012. It gets better; the Department of Education's profits from indebted Obama-lovin' millennials are even greater than Exxon's ($44.9 billion) and Apple's ($41.7 billion) — two companies continually demonized by our demographic for supposedly killing the environment and enslaving people.  

Even more saddening is that most news coverage has been dedicated to the Benghazi, AP and IRS scandals. Heck, we've even been paying more attention to Angelina Jolie and the alleged crack-smoking Canadian mayor; all arguably relevant issues that however don't hit our pocketbooks. 

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