Yahoo! News - Court to Hear Dispute Over Student Loans:
"When Congress passed the HEA in 1991, it eliminated the 10-year time limit on the government's right to seek repayment on defaulted student loans by seizing payments to individuals.
However, the Debt Collection Act created an exception to that rule for Social Security payments. Congress eventually amended that law to allow the seizure of Social Security payments, but then left intact — either inadvertently or not — a separate provision that continued to set a 10-year time limit.
When the case is heard in the court's next term beginning in October, justices will decide what Congress ultimately intended when it made the series of revisions to the two laws.
Billions of dollars are at stake. There is nearly $7 billion in delinquent student loan debt, half of which is more than 10 years old, according to the Bush administration's Supreme Court filing. A 10-year time limit would substantially hinder government collection efforts, since most debtors don't receive Social Security until retirement age, it stated.
Lockhart's attorneys countered that a ruling for the government puts at risk the 'ability of some of the most impoverished Americans to meet their daily needs' through their Social Security nest egg.
The case is Lockhart v. U.S., 04-881."
Think about how this could be used if it were applied to the credit card industry? It may only be applicable for the government to chase overdue student loans for now, but could you envision bush slipping a law in to a bill that would extend this sort of attack on the poor that bush BIG GOVERNMENT enjoys on to BIG BUSINESS? After the last huge blow to Americans' interests that bush handed to credit card companies, I see this as the future of radical right wing GOP legislation...