If you have any doubts that the Obama administration and its card-carrying apparatchiks in Congress are dedicated to demonizing private enterprise, consider this new evidence, courtesy of Senator Tom Harkin and the other Strelnikovs in the Democratic caucus. From the Los Angeles Times:
For-profit colleges are failing their students and saddling taxpayers with an enormous bill, a two-year investigation by the Senate education panel’s Democratic staff concluded.
The harsh report, released Monday by the committee’s chairman, Sen. Tom Harkin (D-Iowa), found that federal taxpayers spent $32 billion on for-profit colleges in 2009-10, while more than half of the students who enrolled in them dropped out without degrees after about four months in 2008-09.
“In this report, you will find overwhelming documentation of exorbitant tuition, aggressive recruiting practices, abysmal student outcomes, taxpayer dollars spent on marketing and pocketed as profit, and regulatory evasion and manipulation,” Harkin said. “These practices are not the exception — they are the norm.”
That would be Senator Tom Harkin, war hero, by the way.
Considering that the United States of America is now almost entirely ruled by Harvard or Yale, including presidents or presidential candidates, Barack Obama, George W. Bush, Al Gore, Mitt Romney, and every member of the Supreme Court, I wonder what the Ivy League credentialists will think of the report.
Democratic members of the committee called for legislation to better regulate for-profit colleges, including adding new rules to the Higher Education Act, which is scheduled to be reauthorized next year.
“If nothing else this report has put the nation on notice that there is a problem here,” said Sen. Richard Blumenthal (D-Conn.).
That would be Senator Dick Blumenthal, war hero, by the way.
There’s no question but that the higher-education bubble is about to pop, and in a big way. With the economy in the dumps, fewer and fewer families can afford the $50-grand-plus it’ll cost to send their wunderkinder off to Grand Old Ivy. Sensing weakness — in part created by its own economic policies — the Obama administration smells blood in the water, and is moving in for the kill. And yet the Ivy League boyars continue to pour donations into his coffers.
Groundhogs? Lemmings is more like it: