Government Loans - article about Government Loans

No one likes the idea of being in debt to anyone – least of all the government. People are so frightened of the IRS that it might as well be the KGB. Nevertheless, government loans can be a real lifesaver. If not for government student loans, I never would have been able to go to college. If not for government business loans, I never would have been able to start my small business. Now, I am quite rich. Say what you want about the American entrepreneurial spirit. I say that that spirit is funded by government loans.

In contrast to the way that government loans work, the only motivation for loans in the private sector is profit. This means that they will make as much money off of you as they are legally able to do. God help you if you fall behind on your bank loan payments! You can lose your house, your car, and a large portion of your income. Government loans, by contrast, are often renegotiable. For example, if you get a government loan to go to school, you can often get it deferred. You might not have to pay off your government loans – or even begin to pay them off – until you're finished with school and employed in your field of expertise. Try getting a deal like that from a bank!

This is what I see it as so disingenuous when people on the rights talk about eliminating government loans and decreasing government spending. Many of them are only in the positions that they occupy today because of government spending. If government loan grants were cut back, they would not have their education, their businesses, or their homes. It is hypocrisy for them to ignore this fact.

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