before we get to the doubling of the rates. there was another report that said recently these loans could cost defaults could cost taxpayers big. what is interesting about it. democrats who want to keep rock bottom rates for kids, their main argument is the government is going to make a fortune off these loans. the congressional budget office, score keeper says we officially claim that this program makes $184 billion over the next decade. actually, if you did real accounting it s going to lose $95 billion. paul: the kind of accounting if private sector people didn t do, they would be in jail for fraud. you would go to prison. [ laughter ] and it s an interesting issue because rail dosue cbos in such plane language that this fraud is occurring. we ll see the impact on the
so before we get to the doubling of the rates, there was another report out this week that said that recently that said that these loans could cost de default could cost taxpayers big. big losses coming. what s interesting about it is democrats who want to keep rock bottom rates for kids, their main argument is the government will make a fortune on the loans and making billions off of kids and so we ought to keep the rate low. congressional budget office, congress official score keeper, said that actually, even though we officially claim that this program makes $184 billion over the next decade actually if you did real accounting, it will lose $95 billion. kind of accounting that if private sector people did do they would be in jail for fraud. you would go to prison. clear fraud. it is an interesting issue because rarely do you see cbos say in such plain language that this political fraud is
invented the new law, lumped in the same categoryastinage baby sitters. they didn t get minimum wage and overtime protections. they re no longer a small group. home care workers now number 2 million, 2.5 million, actually. theirs is the second fastest growing occupation in america and they re part of what has become an $84 billion industry. and they still aren t protected by the minimum wage and by overtime rules. they also represent the heart of the new modern democratic base. which is why barack obama made a show of solid aarity with them. i m ready to work. you re ready to work. i can work while i m talking. i prepared breakfast for him and i helped to make the bed. i cleaned the house, did some laundry. i think the senator s doing a good job. he act like he knows what he s doing anyway.
generated on average every year. and tax revenues increase by an additional $184 billion over the course of a decade. these are huge jumps. now, granted, there are a number of hurdles towards granting citizenship. so the study highlights a second scenario. here undocumented immigrants are granted legal status, but it takes five years to become citizens. look at the gains. gdp expands by an additional $1.1 trillion over the ten-year period and job and tax increase, as well. the third scenario proposes that undocumented immigrants are not granted citizenship during the ten years of the study s projection. instead, they are only granted legal status, even here gdp expands by an additional $832 billion over the ten years, an average of 121,000 extra jobs are added every year and tax revenues grow by an additional $109 billion. how does this happen? the study s author make the case that legalizing undocumented workers brings them into the formal economy.
expands by an additional $1.4 trillion. an additional 203,000 jobs are generated on average every year. and tax revenues increase by an additional $184 billion over the course of a decade. these are huge jumps. now, granted, there are a number of hurdles towards granting citizenship. here undocumented immigrants are granted legal status, but it takes five years to become citizens. look at the gains. gdp expands by an additional $1.1 trillion over the ten-year period and job and tax increase, as well. undocumented immigrants are not granted citizenship during the ten years of the study s projections. instead, they are only granted legal status, even here gdp expands by an additional $832 billion over the ten years, an average of 121,000 aextra jobs are added every year and tax revenues grow by an additional