Student Loan Fraud, China Tariffs, and the Price of Freedom

On September 10, 2019, the eve of the 18th anniversary of 9/11, Kim Monson welcomed Jason McBride of Presidential Wealth Management for an in-studio conversation about economic freedom, government overreach, and the real cost of student loans. Actor Kevin Sorbo called in to preview his keynote speech at Grand Lake’s U.S. Constitution Week.

The Student Loan Nationalization Scandal

Start listening at 21:00 – Hour 1

Jason McBride exposed what the Wall Street Journal called one of the biggest accounting frauds in American history. In 2010, the Obama administration nationalized the student loan market, eliminating private lenders under the guise of funding Obamacare. The Congressional Budget Office projected $58 billion in savings over 10 years, a figure McBride and Kim dissected as pure fantasy.

The reality proved far grimmer. Fair market accounting reveals student loans will cost taxpayers nearly $307 billion over the next decade. McBride questioned the fundamental fairness of forcing welders, entrepreneurs, and tradespeople to subsidize college degrees that often fail to deliver promised careers. The conversation turned to college endowments, with Kim suggesting these massive funds should bear responsibility for loan defaults rather than American taxpayers.

“If you take out a loan, you should be responsible for paying it back, and the taxpayers shouldn’t have to take on the burden.”

Jason McBride, Presidential Wealth Management

Free Speech Under Fire in Hollywood

Start listening at 16:04 – Hour 1

Kevin Sorbo, the actor known for Hercules and faith-based films, shared his experience navigating Hollywood’s increasingly hostile environment for conservative voices. Ahead of his keynote at Grand Lake’s U.S. Constitution Week, Sorbo revealed how his constitutional beliefs have affected his career, for better and worse.

The actor announced five upcoming films and three documentaries, including Miracle in East Texas, a comedy about two con men who accidentally strike oil while defrauding widows. The film had already won awards at festivals in Houston, Orlando, Vegas, and Steamboat Springs. Sorbo’s appearance underscored the episode’s theme: the courage required to stand for principles in an industry that punishes dissent.

“And they’re, as you know, not only curtailing across the country, but they’re certainly curtailing freedom of speech within Hollywood as well.”

Kevin Sorbo, Actor

Market Resilience and the Tariff Truth

Start listening at 33:57 – Hour 1

McBride analyzed the market’s response to ongoing trade tensions with China, explaining how the feared head-and-shoulders pattern had been negated when the S&P broke above 2954. He compared two jobs reports, the government’s Bureau of Labor Statistics survey and ADP’s actual payroll data, revealing that both showed over 6.5 million new jobs created since Trump’s election.

The highlight came when McBride played audio of Hush Puppies CEO Greg Tunney being pressed by Stuart Varney on Fox Business. Despite sending a letter to President Trump opposing tariffs, Tunney admitted his company had already mitigated exposure by shifting production to India, Vietnam, and Cambodia. American businesses, McBride argued, were too savvy to simply pass costs to consumers. China would absorb the tariffs, exactly as he had predicted months earlier on the show.

“If socialism is so great, why does it have to be mandatory?”

Jason McBride, Presidential Wealth Management