The claims made about Obamacare’s fiscal impact were always lies, and they have gotten worse over time. One of them, as Tim Carney details in the Washington Examiner, was that the federal government would finance the extra spending by nationalizing college lending at a profit. Joe Biden just torpedoed that:
By nationalizing the student lending industry, which previously had federal guarantees for private banks, Obamacare would raise $58 billion in revenue over a decade. Some Democrats promised even more. “Part of the Health Care and Education Affordability Reconciliation Act of 2010 will make key changes to the student loan industry,” Sen. Tom Carper (D-DE) said. “This measure will save taxpayers nearly $70 billion over 10 years.” So to all the other ways in which this student loan bailout is objectionable, here is another one. It is yet another abandonment of the lies used to sell Obamacare. Of all the bogus claims that it paid for itself, this is only the latest to fall apart.
Read the whole thing.