Obama

Just as former Vice President Al Gore did recently at Princeton, president Obama chose to focus on the issue of global warming in his commencement address at the University of California, Irvine, calling those who question the scientific evidence for man-made global warming a “radical fringe” who shouldn’t be taken seriously.

“The question is not whether we need to act” on climate change, Obama said. “The overwhelming judgment of science, accumulated and measured and reviewed over decades, has put that question to rest. The question is whether we have the will to act before it’s too late.”

The speech and creation of the fund follow Obama’s announcement earlier this month of plans to cut power-plant emissions, the nation’s largest source of carbon dioxide, by 30 percent by 2030 from 2005 levels.

“When President Kennedy set us on a course for the moon, there were a number of people who made a serious case that it wouldn’t be worth it,” Obama said. “But nobody ignored the science. I don’t remember anyone saying the moon wasn’t there, or that it was made of cheese.”

Full story here.

(Image: PeteSouza.WhiteHouse)

(Via Drudge)

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President Barack Obama, perhaps one of the greatest BS-ers of all time, recently divulged where he fined-tuned his skills: college.

The Washington Free Beacon reports that during a Q&A hosted by Tumblr on Tuesday, one user asked Obama how America could “promote growth in STEM fields without putting humanities on the back burner.”

“First of all,” Obama began, “I want to say, I was a humanities major. So I majored in political science and minored in English.”

But according to Obama, those majors blossomed from a desire to slack off during high school. “I actually loved math and science until I got into high school,” he reminisced, “and then I misspent those years. And the thing about the humanities was, you could kind of talk your way through classes, which you couldn’t do in math and science, right?”

Right you are, Mr. President. Thank you for that brief moment of honesty. It’s so rare coming from you nowadays.

Watch the video:

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USA Today reports on the latest job-hunting tactic for this generation of debt-addled, underemployed college grads: Stand outside with a cardboard sign.

That’s right. Call it panhandling for the B.A. set.

USA Today interviewed students at the University of South Florida who have taken tot he streets with hand-made signs in an attempt to land a job.

In the Tampa Bay area, many college grads are finding themselves without a job, and some are trying creative ways to find one.

“I figured it’d be a great way to separate us from the rest,” says Damian Romero of his strategy. Both he and Jarod Fluck recently graduated from the University of South Florida and are now looking for a job.

“We’ve tried a couple of job expos and tried getting in touch with employers,” says Romero…

So far, the pair has yet to land a job in this manner.

As one of them explains later on the interview, “It’s tough out there.”

But there’s more to this story than a few chuckles. Coming just day after the president announced a new effort to ease repayment burdens for Americans with student loan debt, the panhandling-for-jobs routine dramatizes the problem with the president’s approach. Grads are struggling, in large part, because student loans are to easy to get and too abundant. By making it even easier to for students to borrow money, the president is all but ensuring that overall debt levels for graduates will continue to rise.

Lots of cheap, easy-to-borrow funds means that students are able to pay more, and universities are able to charge more. The runaway inflation of tuition prices in the U.S. over the last thirty years is largely due to misguided notion that providing lots of easy loans will produce a more prosperous population. That’s only partly true. Because the greater the number of people with college degrees, the less value a degree holds in the marketplace. And the more federally backed student loan dollar there are out there, the less incentive students have to save and the more incentive colleges have to spend.

What you end up with is degrees that cost more and have ultimately are worth less. The B.A. has now become a kind of substitute for the high school diploma. And while it may be essential in many fields for landing even an entry level job. The job market remains tough, and ever larger student debt levels is the likely outcome of president Obama’s latest plan to east pressure on borrowers.

Nathan Harden is editor of The College Fix and author of the book SEX & GOD AT YALE: Porn, Political Correctness, and a Good Education Gone Bad.

Follow Nathan on Twitter @NathanHarden

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President Obama has issued an executive order requiring student loan repayments be capped at 10 percent of a student borrower’s monthly income as part of the “Pay As You Earn” program.

“Under many of the plans, low-income borrowers can have their balance canceled after 25 years of on-time payments. The president’s plan moves the forgiveness date to 20 years or 10 years for those in public service jobs,” Fox News reports.

According to the American Enterprise Institute, here’s what’s wrong with Obama’s initiatives.

“1. Most families who use PLUS loans are not gaining access to institutions with high graduation rates.”

“2. Institutions are being rewarded for increasing tuition.”

“3. Parents are not using PLUS to finance the same educational experiences.”

“4. [The U.S. Department of Education] needs to collect and report better data on the PLUS Program.”

These changes just feed into the higher education bubble.

Read more.

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President Obama is expected to announce a new measure to provide student borrowers with debt relief, CNN reports:

Obama will expand the criteria for an alternative repayment program, which caps monthly payments for certain federal student loans at 10% of a borrower’s discretionary income.

The changes would allow an additional 5 million borrowers to qualify and will be available beginning in December 2015, the official said.

The alternative payment programs are designed to help borrowers struggling under the weight of student loans. They include forgiveness programs for on-time payments and public-sector employees. Teachers can have their balance canceled after ten years, for example. Low-income borrowers can have their balance canceled after 20 or 25 years of on-time payments…

25 years? If you haven’t paid off your loans by that time, maybe you borrowed to much to begin with.

Full story here.

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IMAGE: trustypics/Flickr

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President Obama held a controversial meeting with about 100 young super wealthy heirs–many of whom are set to inherit billions of dollars, Fox News reports.

The purpose of the meeting was to get these young spoiled rich kids to get excited about “collaborating” with the government on issues such as charitable giving.

Translation: Obama wants these kids’ parents’ money.

Read the full story here.

(Image: trustypics.flickr)

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