Bible Time13001-02-14 (2010-03-30): Student Loans and more
US President Obama signed off on a set of modifications to the Health Care bill from days before. It included a major change to Student Loan handling.
The market for US Treasuries had a major sell off. There were fears that the health care bill could add $1000B to the national debt over the next 10 years.
Exodus Firstborn-Plague: 15 Tomorrow...
Theoretical Time:
- 13001/2/14 3:4:24 AA
- 2010-03-30 20:32:17 TMMT
- 2010-03-30 18:11:23 GMT
- 2010-03-30 14:11:23 EDT
Associated Scripture:
2 Exodus 9:5-6
5And Yahvah appointed a set time saying, Tomorrow Yahvah will do this thing in the land.
6And Yahvah did that thing the next day, and all the cattle of the Egyptians died; but of the cattle of the children of Israel not 1 died.
Banker's Woes
Obama signed off on the final immediate changes to the health care legislation. The media focused on a different aspect of the bill, a radical change to Student Loan handling.
Previously, the private banking system had been responsible for student loans, said to be a $70B industry. At this date the Federal government became the primary party in handling these loans.
One specific detail, unclear as to details but mentioned in the article was a change in the maximum percentage of income that could be used to pay back loans. Previously 15 percent, the law changed this to 10 percent. This change can cause former students to become slaves of the government in perpetuity.
Ireland also announced the size of the bailout needed to rescue its failing banks. The bailout is large considering the size of the Irish economy. The banks were given 30 days to figure out their sources of funding. The 30 days is a biblical month, and the normal meaning of "tomorrow" in the plagues series.
Weather
The east coast of the USA, as well as parts of Europe, were experiencing major rains and associated flooding. Reports indicated that many areas were seeing never-before-seen water levels with attendant damage.
Matches
When this story passed previously, the banking system started collapsing. This date another aspect of the banking industry, in this case Student Loans, was taken from the banks and put into the sure arms of the Federal Government. This is yet another banking system plague.