President Obama wants to make college loans directly, instead of laundering them through various profit making corporations like Sallie Mae.  Doing so will save taxpayers $46 billion over the next 10 years.

That’s even more than doing away with oil subsidies, which costs taxpayers $40 billion over 10 years.

So who opposes such savings?  You got it.  The Republicans.  The party that describes itself as the fiscally responsible one.  The same party that opposes Obama’s recommendation to form a panel to study ways where we can save money.  The same party that opposes a consumer financial products protection agency.  The same party that opposed reforming our incredibly expensive health care system.  And opposes real regulatory reform of the Wall Street welfare queens.

You want to know where the Republicans stand you need answer only one question.  Who has the most money to fund re-election campaigns.  End of discussion.  Every other consideration, such as what’s good for consumers or the nation as a whole, aren’t even in the backroom shakedowns.

Here’s a link to Obama’s chief economist, Austan Goolsbee as he appeared on the John Daly show recently.