Last week, I wrote about Obama’s latest outrageous plan to pay for his scheme to give away “free” community college to every American. He wasn’t planning on just raising taxes, but instead specifically set his sights on the college savings accounts of middle class Americans like you and I in order to pay for those who hadn’t planned ahead for future college costs.
After Americans across the political spectrum, not to mention politicians, responded in horror, the Obama administration did something it rarely does: balked. The New York Times reports on how the announcement came so soon after it was outlined during the President’s State of the Union speech,
The decision came just hours after Speaker John A. Boehner of Ohio demanded that the proposal be withdrawn from the president’s budget, due out Monday, “for the sake of middle-class families.” But the call for the White House to relent also came from top Democrats, including Representatives Nancy Pelosi of California, the minority leader, and Chris Van Hollen of Maryland, the ranking member of the Budget Committee. Ms. Pelosi pressed the case to senior administration officials on Air Force One as she flew with the president from India to Saudi Arabia, according to Democratic aides familiar with the discussions.
Republicans’ victory dance came almost instantly, with House Speaker John Boehner releasing this video:
In 2007, the Obamas themselves illustrated the president’s point, front-loading five years’ worth of contributions into their daughters’ 529 plans, with deposits of $240,000.