FCC to Provide Free Internet – Like Obamaphone!

Now that the government has taken over the internet in order to treat it like a water company, we find within the 400 pages of regulations some gems such as this:

Low-income consumers may be set to have essentially free, taxpayer-subsidized Internet service, similar to the notorious Obamaphone, following the federal government’s takeover of the web.

All three democrat members of the Federal Communications Commission have openly announced intentions to provide broadband Internet subsidies for the poor through the government’s Lifeline Assistance Program, started under President Ronald Reagan more than 30 years ago.
Lifeline, originally intended to help the poor attain landline phones, eventually morphed with the times to provide prepaid wireless service (Obamaphones) and now seems destined for Internet reform.
“I have… been vocal about my call to modernize the Lifeline program, which has been stuck in an MC Hammer, parachute-pants time warp since 1985,” FCC Commissioner Mignon Clyburn argued in the FCC’s 400-page order.

Read more: here

The Debt Bubble Expands As Auto Loan Amounts Hit A New Record

Is anyone surprised that the poorest and least credit worthy of Americans are being saddled with piles of debt in order to buy new cars? It’s not enough that a generation of our citizens will toil pointlessly to pay off more than $1 trillion of student loans, we may as well add some other form of debt burden on top of it. It’s hard to even imagine this is happening so shortly after the last credit bubble train wreck, but happening it is. Creative ways for people to purchase cars they can’t afford have been on my radar screen for some time now, and if you recall, I posted an article last April titled: Just Keep Dancing: Introducing the 97-Month Auto Loan . Well the dancing has continued, and now we have Americans borrowing at all-time record levels to buy cars. USA! USA! Read more: here

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