When the student loan election bribe was uncorked last election, it was predicted by everyone from bankers to political opponents to Cactus Kate that it was going to cost a lot -- up to $1billion said Westpac's Brendan O'Donovan, three times what Labour's electioneers were saying -- and "would ... cause an explosion in student debt."
No, no, no said finger-wagging Labour spin doctors and Green cheerleaders at the time, carefully keeping their their eyes on the polls, their fingers crossed and their calculations to themselves. "Extremist and scaremongering" said a cynically vote-mongering Mallard about O'Donovan's now proven predictions.
Three years later, guess who was right? "Research released today by TNS Conversa revealed average student debt had risen by 54 per cent since 2004" -- and let's face it, there can't be one person with a working brain who's truly surprised -- and NZUSA president Paul Falloon (who apparently wasn't awake three years ago) blames banks for "seizing the chance to entice students as customers."
Apparently Mr Falloon is in need of that working brain. It isn't banks who are "seizing the chance" to entice students as customers -- it was the Clark Government's election bribe which sought to entice short-sighted students as voters (and don't forget that Labour-Lite now endorse the bribe).
Labour liars weren't wrong when they said their no-interest loan bribe wouldn't cause an explosion in student debt: they just didn't care two hoots that it would. What interested them far more, and interests them still, is getting their bums back on the Treasury benches -- and short-sighted students were ideally placed to lap up their bribe and repay it later in the country's polling booths.
The attention span of student presidents may be shorter than the average spin cycle; there's no need for anyone else's to be.