Politico Declares Obama's Bald-Faced Student Loan Lie 'a Bit of Hyperbole'
Because the media knows that the only way Obama can win national elections is by lying about practically everything, the media is absolutely a-okay with Obama lying.
Obama lies about his relationship with domestic terrorist, Bill Ayers. No problem.
Obama plants over 38 falsehoods in his autobiography. No problem.
Obama lies about his socialist New Party membership. No problem.
Obama lies about Romney's outsourcing. How can we help.
Now Obama's been busted telling a massive whopper to a demographic extremely important to his reelection and the media not only buries it, but downgrades it to "a bit of hyperbole."
Hot Air's Ed Morrissey makes the bust:
Two weeks ago, Barack Obama expressed frustration with the pace of negotiations on extending the interest-rate cap on student loans[:]
We’ve been talking about it for a long time. If Congress does not get this done in a week, the average student with federal student loans will rack up an additional $1,000 in debt over the coming year. If Congress fails to act, more than 7 million students will suddenly be hit with the equivalent of a $1,000 tax hike. And that’s not something that you can afford right now.
Wow — just how much debt is the average student carrying? If a move from 3.4% to 6.8% could add $1000 in interest each year, that must be one heck of a loan.
Politico actually did the math, and suggests that Obama might have engaged in a little, er, “hyperbole”:
That was a bit of hyperbole. According to the Department of Education, if rates double, the borrower paying back the average Stafford loan would owe an additional $1,041 over the 12-year life of the loan. That would break down to $87 more annually, or about $7 more a month.
Yes, you read that correctly. Obama tells young people that unless Congress doesn’t do what he tells them to do, a very important voting demographic will face an additional $1,000 in added interest a year to their students.
Only it's not $1,000 a year, it's $87 a year.
And rather than make Obama pay a price for his never-ending series of outrageous lies, Politico buries this particular lie in a story about something else and, through the magic of journOlist alchemy, declares turning $87 into $1,000 "a bit of hyperbole."
But this is the same corrupt Politico that not only gave Obama permission to continue lying about Romney's outsourcing, they are also repeating the lie.
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