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Monday, August 2, 2010

NH jobs lost: As Obama takeover continues

Union Leader Editorial

Don't think the Obama administration and the Democratic Congress are trying to replace privately-run enterprises at every turn? Perhaps you missed last week's news of more layoffs by the New Hampshire nonprofit that arranges and administers college loans to families.

Under the laughable claim that a federal takeover of these loans will "reduce'' their costs and rescue people from greedy lenders, Obama and friends passed and signed a law last spring that ended private origination of Federal Family Education Loans.

These loans will now be overseen by federal workers in the behemoth known as the U.S. Department of Education.

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Not only is this unlikely to reduce costs, it is clearly reducing jobs in the private sector. The New Hampshire Higher Education Assistance Foundation has laid off 35 positions lover the last two months. NHHEAF is hoping it will qualify for some federal work under the new government program, but the feds haven't said when the New Hampshire group might even be able to apply.

Even the non-profit NHHEAF may have become more of a bureaucracy than was necessary in a world of constantly increasing education costs. But it at least wasn't the government, "here to help you.''

America's capitalism is being slowly immersed into what is becoming an ever-thickening stew of government socialism.

When we are in up to our necks, it will be too late to get out.