Friday, September 13, 2019

Student Debt Is...

Some older Americans say millennials’ 

student debt is their own fault



Chip Somodevilla/Getty Images
Is harder work the way students can get out of their student loan debt? 


Alf Seccombe, a San Francisco area-based director with $223,000 in student loans, says those who blame students for the problem are “a little out of touch.” “People don’t realize that everybody is living paycheck to paycheck and they are not doing that by choice,” said Seccombe, 36.
‘We’re in a different boat. It’s a different time period. It feels like things are stacked up against me.’


—Alf Seccombe, a borrower who owes $223,000 in graduate school loan debt
He makes six figures in retail fashion marketing, but is still sliding into credit-card debt to pay his loans. Seccombe thinks of his in-laws, who both worked as teachers and bought a house with an ocean view. His house is on a highway and has plumbing work that needs to be put off.

“We’re in a different boat,” he said. “It’s a different time period. It feels like things are stacked up against me.” Seccombe already works at least 50 hours a week and has wondered about a weekend job. “It’s basically the choice between, ‘Am I going to raise my kids or not?’” he said.

One year at any four-year institution cost $26,593 during the 2016 to 2017 school year, according to the National Center for Education Statistics. Adjusting for inflation, the center said the 1985-1986 cost to pay for that same year of schooling was $12,274.

But not everyone empathizes with debt-holders. One-third of adults aged 45 and up say graduates are most at fault for their student debt, according to a new survey. In fact, 25% say young people should look for lower interest rates and 19% say graduates should work harder to pay it off.

The 18- to 44-year-olds participating in the CreditRepair.com survey — those most likely paying off loans right now — see things differently. Only 21% say students are at fault, while 40% say the responsibility rests primarily with the government.

And just 10% of younger participants in the survey said graduates need to work harder. Their No. 1 solution (according to 27% of this age group) was free public college; only 18% of older Americans said they felt the same way.

Borrowers between the age of 18 and 39 owe $840 billion of the nation’s approximate $1.5 trillion dollar student debt as of this year’s second quarter, according to Federal Reserve Bank of New York data, while those aged 18 to 49 owe $1.16 trillion. Americans with student-loan debt had an average $32,700 balance as of the end of last year, the Fed noted.

Advocates say minority students face steeper costs and consequences because they are more likely to borrow money for school. One recent study found that white men paid down 44% of their debts 12 years after school, but the balance for black women increased 13% over that time.

At a congressional hearing earlier this week, comedian Hasan Minhaj called student debt “a paywall to the middle class.” “People are putting off marriage, kids, home ownership and retirement,―especially my generation,” said the 33-year-old host of Netflix’s NFLX, +1.83%  “Patriot Act.”

Rep. Barry Loudermilk (R-Ga.), 55, said debt levels were a crisis, but pressed witnesses on whether student loans were absolutely necessary for schooling. 
“Two of my three children graduated from four-year college institutions with zero debt and no scholarship,” Loudermilk said. “They actually worked and paid for their tuition. Even from some colleges you would recognize.”
On Friday, Loudermilk told MarketWatch that students’ “work and ability to generate income is an important part of this puzzle. But the root of the problem is that the federal government took over student lending in 2010, which caused student loan funds to basically become an entitlement available to anyone, which resulted in colleges and universities significantly increasing the cost of attendance.”
He said there’s “also no evaluation as to whether the borrower can repay a federal student loan. I believe that’s why the default rate on federal student loans is 22%, and the default rate on private student loans is 2%. The federal government is now the largest consumer lender in the country. This is the fundamental problem.”

Four Cheers for the...

Four Cheers for Incandescent Light Bulbs

(Lisi Niesner/Reuters)

It brought me much — indeed, too much — joy to hear of the Trump administration’s rollback of restrictions on incandescent light bulbs, even if the ban will remain in place. The LED bulbs are terrible. They give off a pitiable, dim, and altogether underwhelming “glow,” one that never matched the raw (if abrasive) brightness of their incandescent counterparts. The isolated light bulb that dangles from a chain above the interrogation table in every police procedural show? It’s incandescent, naturally — the bulb teeters and sweats right along with the accused. It’s poetic in that way.

And there is something charming — stop laughing, please, I’m mostly serious — about the gradual heat that builds within the incandescent bulb. It’s working hard. Far harder than the LED bulbs, anyway. And it’s less condescending — the state-sanctioned LED light, with its plain optical inferiority, stares you perpetually in the face screaming: “You didn’t build that!”
Shut up, LED bulb. I did build that.

The incandescent bulb, with its utter lack of pretense, is inefficient, sure. It’s inefficient in much the same way the English system of weights and measurements is. Smart People are always telling us just how burdensome the English system is — Most other countries use the metric system! It makes it easier for scientists! Are you anti-science? Well, the LED bulb is the metric system of household light bulbs — it’s utterly European. And as Joe Biden said to the senator from the People’s Republic of Vermont last night, “This is America.

Stop looking at me like that. You’re saying you don’t anthropomorphize your light fixtures? Well, you’re weird. Long live the incandescent bulb, and its inefficient, horribly bright, and plainly American light.

DOJ files brief arguing against House impeachment probe


DOJ files brief arguing against House impeachment probe
Tal Axelrod - 09/13/19

The Department of Justice (DOJ) argued Friday that a federal court should reject the House Judiciary Committee’s efforts to obtain evidence and testimony from special counsel Robert Mueller’s investigation in part because Democrats cannot agree on the scope of the panel’s inquiry. 

The DOJ noted conflicting language used by House Democrats as to whether the Judiciary Committee’s probe into obstruction of justice, among other things, amounted to an impeachment investigation, specifically citing reluctance among House leadership to label the inquiry as such. 

“Most prominently, the speaker of the House has been emphatic that the investigation is not a true impeachment proceeding,” the DOJ wrote, adding that Pelosi said Democrats were “not even close” to a formal impeachment investigation. 

The filing also highlighted House Majority Leader Steny Hoyer’s (D-Md.) statement this month that the Judiciary panel is trying to expedite court cases by convincing federal courts to compel the administration to provide sought after documents and testimony.

House Democrats are scrambling to gain access to grand jury information obtained during the Mueller investigation. The Judiciary committee has argued that its probe is an “impeachment investigation” and is taking action preliminary to “judiciary proceeding” — referring to an ultimate Senate trial — a move they say satisfies an exception to federal grand jury secrecy rules. 

The Justice Department rejected that claim Friday, citing conflicting statements among the House Democratic delegation and admissions that the Judiciary panel’s probe can lead to several possible outcomes beyond an impeachment vote.

“As the Committee’s Chairman has stressed—and as the Speaker of the House and the House Majority Leader both reiterated this week—the purpose of its investigation is to assess numerous possible remedial measures, including censure, articles of impeachment, legislation, Constitutional amendments, and more,” the DOJ said. “What may come of this investigation—if anything—remains unknown and unpredictable.”

The DOJ went on to argue that even if the House probe was a preliminary impeachment investigation, the federal grand jury secrecy rules must still be honored.

“[I]mpeachment proceedings in Congress — including hypothetical removal proceedings in the Senate — are not ‘judicial proceedings’ under the plain and ordinary meaning of that term.” 

The DOJ’s court filing came a day after the judiciary panel voted to expand its powers to investigate Trump while it mulls launching formal impeachment proceedings.

While a majority of the Democratic House delegation has voiced support for impeachment in some form, divides remain over whether the party should support an investigation into impeachment or a formal impeachment inquiry that requires a vote in the House. 


Jerry Nadler, the chairman of the Judiciary Committee, and several other committee chairs have favored impeachment as a means of expediting compliance with document and testimony requests and subpoenas, Speaker Nancy Pelosi (D-Calif.) has warned the prospect has no chance of passing a GOP-controlled Senate, could unite Trump’s base and might endanger Democrats in swing districts where impeachment is particularly unpopular.


Vicious Scapegoating..



Vicious Scapegoating Is 
the Whole Point of Beto O'Rourke's Gun Grab

The "assault weapons" that the presidential contender wants to confiscate are not especially deadly, but the symbolism of that policy is poisonous.

Jacob Sullum - 9.13.2019

(Heidi Gutman/Zuma Press/Newscom)

So it turns out that the Democrats are coming for your guns. Well, maybe not yours. Not yet, at least. Then again, it is not always obvious which guns Democrats have in mind when they talk about bans and mandatory buybacks. What's clear is that they view the people who own those guns as useful scapegoats for horrifying acts of violence.
During last night's Democratic presidential debate, ABC's David Muir asked former Texas congressman Beto O'Rourke about his response to a reporter's question during his visit to Charlottesville, Virginia, last month.

"How do you address the fears that the government is going to take away assault rifles if you are talking about buybacks and banning?" the reporter asked.
"I want to be really clear that that's exactly what we are going to do," O'Rourke replied. "Americans who own AR-15s [or] AK-47s will have to sell them to the government. We're not going to allow them to stay on our streets, to show up in our communities, to be used against us in our synagogues, our churches, our mosques, our Walmarts, our public places."

Last night O'Rourke, responding to Muir's question, doubled down on that pledge. "Hell, yes, we're going to take your AR-15, your AK-47," he said, eliciting wild applause from the audience. "We're not going to allow it to be used against our fellow Americans anymore." That was quite a turnaround from last year, when O'Rourke was running for the Senate and assured a radio host, "If you own a gun, keep that gun. Nobody wants to take it away from you—at least I don't want to do that."

In his new incarnation as a gun grabber, O'Rourke favors a ban on "the manufacturing, sale, and possession of military-style assault weapons," with no exceptions for guns people already own. But since "military-style assault weapons" are in the eye of the beholder, that description does not provide very clear guidance to gun owners who wonder whether O'Rourke is intent on seizing their property.

Consider the Assault Weapons Ban of 2019, introduced in January by Sen. Dianne Feinstein (D–Calif.), who also sponsored the 1994 federal "assault weapon" ban that expired in 2004. Feinstein's bill bans more than 150 models by name, but it also includes a general definition that covers semi-automatic rifles with detachable magazines and one or more "military-style" features. Those features include barrel shrouds, which would seem to condemn one of my guns, an Iver Johnson M1 carbine:


Yet Feinstein's bill specifically exempts this rifle, as long as it does not have a folding stock. (Thanks, Dianne!) Does a folding stock make this gun more deadly? No, it does not. With or without a folding stock, the gun has the same ammunition capacity, and it fires the same rounds at the same rate with the same muzzle velocity.

Feinstein's distinction makes no sense. Neither did O'Rourke when he said an "assault weapon" ban would cover guns that fire "high-impact, high-velocity round[s]," since the legal definition of "assault weapons" has nothing to do with the size or velocity of the ammunition they fire.

These are not quibbling details, since "assault weapons" are an arbitrary category that means whatever legislators decide it means. The original federal ban applied to semi-automatic rifles with two or more military-style features; Feinstein's new bill says just one is enough to qualify for prohibition. But the list of features is still mainly cosmetic and has little or nothing to do with a gun's suitability for mass shootings, which are usually committed with handguns.

Former Vice President Joe Biden, like all the other Democratic presidential contenders, wants to ban "assault weapons." Yet he concedes that the 1994 ban had no impact on the lethal capacity of legal firearms, since gun manufacturers could comply with the law by "making minor modifications to their products—modifications that leave them just as deadly." That is equally true of the new version proposed by Feinstein. Politicians like O'Rourke are basically saying that they reserve the right to take your gun if they don't like the way it looks.

O'Rourke promises he will "bring everyone in America into the conversation— Republicans, Democrats, gun-owners, and non-gun-owners alike." But if a gun owner says he'd prefer to keep his property rather than surrender it to the federal government, that's too bad.

The gun owner might point out that Americans own more than 16 million "assault weapons," and almost none of them are ever used to kill people. In 2017, according to the FBI, all rifles combined—only a subset of which would qualify as "assault weapons"—accounted for just 5 percent of gun homicides where the type of firearm was specified, while handguns accounted for 89 percent.

The gun owner might wonder why he has to surrender his rifle simply because mass shooters occasionally use a similar model. By that logic, the government should first confiscate handguns, which are used in the vast majority of gun homicides, including mass shootings. But that argument will be of no avail in the "conversation" that O'Rourke imagines, because he has already arbitrarily decided that features such as barrel shrouds, folding or adjustable stocks, pistol grips, and threaded barrels cannot be tolerated.

The federal government, of course, does not know who owns the guns that O'Rourke does not like. So you might wonder how he plans to carry out his confiscation scheme.
As Contributing Editor J.D. Tuccille notes, history suggests that voluntary compliance would be the exception. A year after New Jersey banned the possession of unregistered "assault weapons," a grand total of 18 had been surrendered or confiscated, out of an estimated 100,000 to 300,000 guns covered by the law. California, New York, and Connecticut met with similar success when they required registration of "assault weapons" owned before those states banned them: Only a small minority of the targeted guns, ranging from 2 percent to 15 percent, were actually registered.

Since O'Rourke has already announced that he plans to confiscate "assault weapons," and not merely register them, he can expect even wider defiance. A mandatory "assault weapon" buyback program therefore would be symbolism on top of symbolism: an ineffectual attempt to enforce arbitrary distinctions.

The symbolism is not just about seeming to do something that will stop mass shootings. It is also about demonizing the sort of people who own the guns that O'Rourke and his fellow Democrats detest. Notwithstanding O'Rourke's promise of a civil "conversation" with gun owners, his campaign is now selling this mocking/threatening T-shirt:


O'Rourke supporters who wear this shirt are obviously not interested in a calm, rational discussion about gun control. They already know who the enemy is: people who own AR-15s and people who defend their right to do so.

The owner of an AR-15 must turn it over to the government, O'Rourke says, because "we're not going to allow it to be used against our fellow Americans anymore." But O'Rourke wants to take guns from peaceful, law-abiding people who have never used those firearms against their fellow Americans. In his mind, they are nevertheless implicated in mass murder.

That attitude is of a piece with the poisonous mentality that gave us the resolution in which the San Francisco Board of Supervisors condemned the National Rifle Association, which has 5.5 million members, as a "domestic terrorist organization." If you oppose the gun control laws that O'Rourke and San Francisco's supervisors favor, they seem to be saying, you might as well be shooting down schoolchildren or Walmart shoppers.

Applauding O'Rourke's position last night, Sen. Cory Booker (D–N.J.) also slyly suggested that the former congressman is a Johnny-come-lately on gun control, having been awakened to the need for extreme measures by last month's mass shooting in El Paso, his hometown. "I'm sorry that it had to take issues coming to my neighborhood or personally affecting Beto to suddenly make us demand change," Booker said. "This is a crisis of empathy in our nation." On that much I agree.


O'Rourke responds to 'death threat' from Texas lawmaker







O’Rourke, a former Texas congressman, championed hardline gun reforms at Thursday night’s Democratic primary debate in Houston, calling for a mandatory federal buyback of military-style firearms following a mass shooting last month in his hometown of El Paso that killed 22 people.

“Hell yes, we’re going to take your AR-15, your AK-47,” O’Rourke declared to energetic applause from the forum’s audience at Texas Southern University. “We’re not going to allow it to be used against our fellow Americans any more.”

After O’Rourke’s campaign repeated an abbreviated version of that line from the candidate in a tweet, Briscoe Cain — who represents the state’s House District 128, east of Houston — wrote online: “My AR is ready for you Robert Francis.”

O’Rourke responded just after midnight to Cain’s post, which was taken down by Twitter. “This is a death threat, Representative. Clearly, you shouldn't own an AR-15—and neither should anyone else,” he wrote.

Cain offered a retort less than 20 minutes later, again employing O'Rourke's legal name and tweeting: “You’re a child Robert Francis.”

O'Rourke said in an interview later Friday morning that his campaign staff had contacted the FBI and Twitter regarding Cain's tweet.

"I mean, anytime you have somebody threatening to use violence against somebody in this country to resolve a political issue, or really for any reason, that's a matter for law enforcement," O'Rourke told CNN.

"But it really drives home the point better than I could have made," he continued. "Rep. Briscoe Cain is making the case that no one should have an AR-15 that they can hold over someone else in this country — say, 'Look, if we disagree on something, let me introduce you to my AR-15.' Absolutely wrong."

National Democrats and some Republicans have pushed for various gun reform policies following a spate of mass shootings over the summer in California, Texas and Ohio.

All of the Democratic candidates vying to challenge President Donald Trump in 2020 support instituting a system of universal background checks and an assault weapons ban — with some promoting a mandatory buyback of the firearms and others in favor of a voluntary program.

  https://www.politico.com/story/2019/09/13/orourke-death-threat-texas-lawmaker-1494500

Image result for picture of beto o'rourke


Kamala thinks violating the Constitution is a laugh riot

Kamala Harris is either a really bad comedian or a really dangerous politician. 






I saw a clip from last night’s debate that was kind of disturbing.  Kamala Harris was asked about all the executive orders she would impose and how Joe Biden cautioned candidates about violating the Constitution in order to do it.
And Kamala laughed.
She laughed.
Now, the clip is disturbing for a couple reasons.
First, when Joe Biden is calling you out on violating the Constitution, then you know it’s bad.
Biden served for eight years as the VP for a guy who took violating the Constitution to new and dangerous heights.  And as far as I know, old Joe never said “Hang on, Mr. President. You can’t unilaterally legislate with the stroke of a pen! That power belongs to the Legislative Branch.”
So if even Joe is rankled by your dictatorial aspirations, then maybe you’re just a wee bit too extreme.
But the more disturbing thing is to Kamala, the notion of violating the Constitution is a laugh riot.
Does she think the Constitution is a joke?
Good grief. She is really bad at this.
My guess is, the comedic dictator here had been waiting for the perfect opportunity to mimic Obama’s “Yes We Can” as a way to get in a dig at Joe Biden.  And rather than realize this was a bad time to use it, just plowed ahead like the over-prepared, under-skilled politician that she is and used it at the most inopportune time.
The fact is, the United States Constitution is designed to LIMIT the power of the Federal Government.  It is there to say to our elected representatives “no, you can’t.”
You can’t infringe on the Second Amendment.
You can’t infringe on our Freedom of Speech.
You can’t infringe on the due process rights of the people.
You can’t legislate if you’re the President.
No, you can’t.
And the fact that Kamala Harris finds violating the Constitution, the Separation of Powers, and the protections of our unalienable rights laughable should concern everyone.
Harris is a clown and a fool. And her dismissive response to the unalienable rights of the people is dangerous and reckless.
But this goes for all of these fools who spent last night promising to deprive the American people of their unalienable rights.
They don’t care.  None of them do.
For them, the United States Constitution is an obstacle.
said this weekend, the 2020 Democrats are all under the mistaken notion that they are running for Dictator.
The only silver lining is, unlike Barack Obama, these fools are so brazen about it, we’re hearing the quiet parts out loud. And most voters in swing states aren’t going to find any of it the least bit funny. 
(See video tweet in featured comment)

Inspector General Horowitz Completes Investigation

Notifies Congress of Classification Review 


The DOJ Office of Inspector General Michael Horowitz has notified congress that his investigation is complete.  In a letter to congressional committee members with oversight authority, IG Horowitz states the draft report on his FISA abuse investigation is currently undergoing an internal classification review: 

PROCESS:  The completion of the draft report indicates: (1) the investigation has concluded; (2) the IG referencer checks are now complete; and (3) the draft is submitted to the DOJ (AG Bill Barr) and FBI (Christopher Wray) for a review.

Depending on the size, scale and content of the report a classification review could take several weeks.  This is where President Trump previously granting AG Bill Barr authority to make declassification decisions will come into play. Ultimately the decision on what can be released is now in the hands of U.S. Attorney General William Barr.
AG Bill Barr’s May 23rd, 2019, declassification authority covers investigative material from the DOJ, FBI, Central Intelligence Agency, State Department, Treasury Department, Department of Energy, Department of Defense, Department of Homeland Security and the Director of National Intelligence (ODNI).

How much AG Bill Barr will declassify is an unknown; and this part will most likely be the source of a great deal of debate and political positioning.

After the classification review, and possible declassification determinations by AG Bill Barr, the draft report will be returned to the Office of Inspector General for a Final Draft assembly.  Any information remaining classified will be placed into a separate “Classified Appendix” that will not be public.

The Final Draft could, likely will, be shared with key stakeholders who are outlined within the report during the Principal Review Phase (generally two/three weeks). Here the IG may accept feedback on the investigative findings.  If the IG accepts feedback for placement in the report; the referencer will generally provide additional material specific to the allowed response from the principal(s), with further comment from the IG.
Interesting note from the IG letter:
An intellectually honest inference would be that several witnesses came forward only after the Special Counsel investigation was complete.

From this point, a good guess based on processes and procedures would be to anticipate a final public report in approximately six to eight weeks.   Though it could be delivered faster depending on the scale/scope/complexity of the classification review.

Redistribution and Regulation



The Redistribution and Regulation Party

Democratic presidential candidates have abandoned the idea of economic growth.


During a recent visit to Toledo, Ohio, to speak at a local school, I saw remarkable signs of an improving economy in this Rust Belt city. My taxi driver from the airport boasted that he could leave his position tomorrow and have his pick of other jobs. The hometown law students with whom I lunched had renewed confidence that they could remain in the area because business was better than at any time in the last two decades. I stayed at a hotel that had opened just weeks earlier, and another, across the street, was scheduled to open this fall.

Toledo’s recovering prosperity is emphatically not a story of the rich getting richer. A driver for hire does not make more than the median income, and the law students were young men graduating from a regional school, not highflyers on their way to Wall Street firms. Nor were the benefits of economic growth merely economic: I could hear in the driver’s voice the sense of autonomy and self-worth that comes from knowing that you can quit today and be employed tomorrow. The law students enjoyed having the choice of staying near friends and family. To be sure, Toledo is still relatively economically distressed, but it’s striking that the dynamism of America’s economic recovery is being felt even here.

Being in Toledo reminded me of something that Robert Lucas, a Nobel Prize winner in economics, said: “Once you start thinking about economic growth, it is hard to think of anything else.” Economic growth compounds, potentially doubling or tripling incomes over a lifetime. Growth also enables nonmaterial opportunities, from changing jobs to sending one’s children to better schools.

It’s distressing, then, that Democrats have given up on economic growth as a central concern. Bill Clinton ran for president on a platform of economic renewal. “It’s the economy, stupid” was a signal that his policies would aim at promoting growth. And his mantra of rewarding people who played by the rules was a nod to the culture of personal responsibility that undergirds growth.

The recent presidential debates reflect a complete reorientation of the Democratic Party—away from growth. Elizabeth Warren was the only candidate to tout a proposal for increasing economic growth—breaking up big companies, particularly tech companies. That idea certainly doesn’t enjoy consensus support from economists, and few see it as a significant spur to growth, in any case; large tech companies have been responsible for much of the increase in GDP over the last decade. They have also provided services—like the ability to search on Google—whose value cannot be captured by conventional growth measures, because they’re free. A few candidates, like Pete Buttigieg, talk about building infrastructure, which could be growth-enhancing. And a third-tier candidate, John Delaney, argued for free trade, a certain promoter of growth.

But the Democratic field’s overwhelming focus has been asset redistribution—providing free health care to all, forgiving student debt, or giving every adult an annual stipend of $12,000. It’s hard to see how these policies could promote growth. They move America toward the welfare states of continental Europe that have economically underperformed the U.S. for decades—and this difference in performance is understated because other nations ride cost-free on our innovations in technology and medicine.

Leading candidates like Warren and Kamala Harris have even suggested that they’re open to packing the Supreme Court. Buttigieg has a detailed plan to change its membership. These are attacks on the rule of law, crucial to economic growth. Confidence in settled rules affecting property and contract give people the confidence to invest and take risks. While it might seem that our modern Court is largely focused on civil rights, economic issues remain salient. Labor and administrative law are contentious matters that bear on economic production, and the takings and contract clauses remain litigated constitutional provisions. An enlarged Court, with justices dedicated to a progressive, rather than a constitutionalist, agenda could undermine the legal basis for American prosperity.

Coastal elites will fare just fine, no matter who is president. In fact, heavier regulation, like that contemplated by the Green New Deal, will help the cognitive elite by requiring companies to hire them to navigate the obstacle course of swelling government. But the loss of focus on economic growth will be disastrous for the American middle, like my new acquaintances in Toledo.

John O. McGinnis is a contributing editor of City Journal and the George C. Dix Professor in Constitutional Law at Northwestern University.