April 23, 2010

Obamacare Kills 2,500

Jobs, not people... at least for now.

The Sallie Mae layoffs are a direct result of the student loan takeover Democrats shoved into Obamacare.

Posted by Confederate Yankee at April 23, 2010 03:08 PM

You could have quoted this part of your link for a little perspective:

"The law strips the middleman role in student lending away from banks. It's expected to save at least $60 billion in fees that went to banks to process government-backed student loans.

That's $24 million per job. Now pretend for a moment that Obama had just done the opposite and hired Sallie Mae to oversee the Federal Loan Program, hiring 2,500 at a cost of just $60 billion tax payer dollars. You'd freak, and rightly so.

Posted by: Jim at April 23, 2010 08:06 PM

Obama will just hire 50,000 new Federal employees to replace the 2,500 lost private sector jobs.

Posted by: Purple Avenger at April 23, 2010 10:50 PM

2,500 lost private sector jobs that were paid for with Federal tax dollars.

Like I said, if Obama had created those 2,500 private sector jobs at Sallie Mae with a $60 billion stimulus bill you guys would not be impressed. Sometimes you need to take a deep breath and admit that even a Congress and President you dislike does something that makes good fiscal sense.

But again, if you have an argument for why $24 million per job is a good deal for we taxpayers I'd love to hear it.

Posted by: Jim at April 23, 2010 11:25 PM

Jim, for heaven's sake stop the apples to kumquats comparison. Only one labor category effected? Only one SWAG at jobs lost? Sheesh!!!!

Posted by: CoRev at April 24, 2010 09:55 AM

Jim, let me add, that the original layoffs were for one company only. They project that the total should be nearly 1/3 of their total employment. One company's estimate, only!

What will you say when the Sallie May budget is expanded over that $60B?

I shall repeat, Sheesh!!!!

Posted by: CoRev at April 24, 2010 10:04 AM