Obama’s College-age Children See Their Bubble Burst Quicker Than Anyone Could Have Thought

Angry Obama SC Obama’s college age children see their bubble burst quicker than anyone could have thought

Well THAT didn’t take long. The confetti thrown on college campuses has barely been swept up after Barack Obama’s reelection, and reality has smacked more of his children in the face. This is happened faster than any of these fools could have imagined. You will recall that Obama’s union children at Hostess found out what real life is about last week. This week, his college student children got their dose of cold truth.

The stroke across the student loan crowd’s face is the news that in the 3rd quarter, the number of student loans in default has skyrocketed.

Student loans that are now delinquent by at least 90+ days and 30+ days have risen dramatically.

The amount of outstanding student loan debt has reached $956 billion, having climbed $42 billion in just the last quarter alone. Obviously, the effects of a 53% underemployed/unemployed rate among those graduating from college last May is taking hold of these young fools. Fully eleven percent of all student loans are delinquent for more than 90 days.

Probably very few of Obama’s college children, who have outstanding school loans, understand that they can NEVER walk away from their debt because it is NOT dischargeable in a bankruptcy; but they will soon find out. How they expect to live a life of their own in a country that offers them no jobs but demands repayment for their useless degree is a mystery.

Worse still is that this report is “likely to understate actual delinquency rates because almost half of these loans are currently in deferment, in grace periods or in forbearance and therefore temporarily not in the repayment cycle” according to Zerohedge.com.  The explanation goes on to say: “This implies that among loans in repayment cycle delinquency rate are roughly TWICE as high.”

The rate of delinquent student loans jumped by 2% in just the three months following last May, and the total amount of outstanding student loans is now pressing $ 1 trillion. Since trying to tell these foolish children this was coming made no impression, maybe the demand letters the  hounds at the IRS will be sending them will make an impression.

They can hide in Mom’s basement for now, but sooner or later they will have to come up for a beer and smokes. Until then, children, keep plenty of gas in your cars so you can try to outrun the revenuers.  Maybe you’ll get work in your own reality show; ‘Two broke Students” sounds about right.  Oh, and look up the meaning of the word “Schadenfreude” – it might be an eye-opener.

Photo credit: SS&SS (Creative Commons)

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Comments

  1. This unqualified, illegal, phony, lying, racist, bigot, half breed, foreign national, Muslim POTUS blew smoke up college students butt, they fell for it hook line and sinker and now they are starting to see his true side. I hate to admit it, but he has the money and power backing him to keep him in office for a long time.
    After January you will see him hasten in keeping his promise to fundamemtally change America. We aint seen nothing yet!!! Blood WILL flow in the streets of America in time!!!

  2. It seems to me there are far too many people who only listen to what they want to hear and filter out what the rest. That is the only reason I can think of for people to believe what this unqualified, illegal, phony, lying, racist, bigot, half breed, foreign national, Muslim POTUS says. He lies to their face and yet they will make excuses for him and defend him, because he says what they want to hear and they so much want to belive him. There are far too many people who will suppprt him no matter what he says as long as he gives them a hug and bag of treats. Only to cry themselves to sleep in the future pounding their pillows screaming ..HOW COULD I HAVE BEEN SOOO STUPID?!?!?!? TBC

  3. Damn! This came out backwards
    As I have said and posted many times talk is cheap. A politician stands in front of the people and makes all kinds of promises. Then when they are elected and asked why they are not keeping their promices they blame the other Party. Have you ever confronted a young girl who got pregnant asking her How did you let this happen.? You should have know he was lying to you. She replies..But he said what I wanted to hear. I am sure there are women reading this post who have themselves or know someone that has happened to.

  4. To Oblowhard’s college children………..HAHAHAHAHAHAHHHAAAAA!!!! LMFAO! Serves you right! HAHAHAHAHAAAA!!!!!!!

  5. Rolfadinho says:

    I’m a college student, but don’t blame me. I VOTED FOR ROMNEY!!!

  6. Linda A. From NY says:

    so many of these young morons voted for obama, now they are screwed, their messiah will see to it that no jobs are created with his failed policies in place. obama knows that, and he does not care if the rest of the country drowns in debt. obama's own daugthers will be taken care of with for the rest of their lives with tax payer's money, while our own children will strugle to survive. maybe this will be a wake up for these morons who voted for him.

    • All fine and dandy if integrity can be restored to the voting system. As it stands, dead people, and fictitious people got to vote for Obama, while others had the extra pleasure of voting for the man two and three times. Is it any surprise he didn't care how he did in his first debate or in his lackluster speech at the DNC Convention?

    • Edwardkoziol says:

      Linda your right his 2 niglets will never have to worry about food stamps,their father robbed enough off the taxpayers to keep them in the lifestyletheyare accustomed to.Question How many vacations will they take in the next 4 years and the niglets will have seperate ones.If Buckwheat and Whoopi want to go to college the universities will be giving them free tuition.

      • Linda A. From NY says:

        The last I heard that these niglets had 36 vacations in 4 years, I think that comes out to a vaction every 6 to 7 weeks. I wish I had a life like that.

  7. Edwardkoziol says:

    If you want to go to college then pay for it.I don't feel sorry one bit for these people,If the great black savior created jobsthen once out of schoolthey'd be able to pay the loans back instead of acting like the low class welfare bums.

  8. Seeks_the_truth says:

    Just as they deny that the housing bubble burst because of the Democrats, so will they deny the student loan bubble that is about to burst.
    I'm having a good laugh. They got what they wanted. Voting for handouts doesn't help you find employment.
    Enjoy the poverty you voted for!

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