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Obama's Risky Plan: Government Takeover of the Student Loan Business

All of the noise-making caused by the health-care-reform effort and the political uncertainty now surrounding Obama's liberal agenda has allowed one item on that agenda to pass swiftly and smoothly under the radar -- his plan to nationalize the entire student loan process. Unfortunately, the plan is too risky for the economy. The White House initially thought the plan would face stiff resistance and launch a contentious and hard-fought ideological battle in Congress. "After all," wrote Time Magazine in September, "the Administration's proposal to restructure the student-loan industry is, in ...

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