WASHINGTON - The disagreement has sparked an election-year fight about an otherwise uncontroversial issue as lawmakers leave this weekend for a weeklong recess....
“This is a clear definition of priorities between the parties,’’ Senator Dick Durbin, an Illinois Democrat, told reporters....
And Democrats set it up that way for campaign purposes.
"It was House Democrats who cut interest rates on the school loans in 2007 and included an expiration provision that placed the looming increase in the middle of an election year"
Why couldn't they just make them permanent? It's as if they planned this so they could have it as an election issue.
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And they can't get the bill through?
"Efforts to curb interest hikes for college loans foiled; Democrats, GOP halt each others’ bids for subsidies" by Bobby Caina Calvan | Globe Staff, May 08, 2012
WASHINGTON - Congressional partisanship scuttled the latest attempt to prevent student loan interest rates from doubling and piling more debt on 7 million college students, including 177,000 in Massachusetts, who already face tall odds to find decent jobs in a still-bleak economy.
Ever notice Israel and the military get nearly unanimous votes for the things they want and need?
On Tuesday, Senate Republicans blocked a Democratic proposal to keep so-called Stafford loan interest rates from rising to 6.8 percent from 3.4 percent on July 1, when the interest subsidies are scheduled to expire.
The rise in interest rates could be especially burdensome to students
in the Bay State, which ranks second only to Illinois in the average
amount borrowed per student.
Why didn't Democrats ever use the filibuster, folks?
And why, when they allegedly had a filibuster-proof majority in the Senate, did we only get a crappy corporate healthcare law?
Democrats and Republicans agree about extending the loan subsidies, but can’t agree on how to cover their $5.6 billion cost.
Well, I know where you can find about $4 billion or $8 billion.
“We’ve got to find a way forward for our students, but it’s especially maddening because we had a common-sense answer that didn’t add a dime to the deficit,’’ said Democratic Senator John Kerry, who voted with his party.
It sure is.
Democrats sought to pay for the student loan subsidies by closing a loophole that allows stockholders to avoid some Social Security and Medicare payroll taxes.
Republicans, however, want to use money from the health law’s Prevention and Public Health Fund, which provides services including screenings for breast and cervical cancer. Democrats accuse Republicans of trying to repeal the program.
Does it really matter to the kid who is going to get f***ed?
Last month, House Republicans set aside a Democratic proposal authored by Representative John Tierney of Salem that sought to finance the loan subsidies by stripping some tax breaks from oil and gas companies.
Why didn't Democrats strip those years ago?
Instead, the House approved by a 215-195 margin a largely Republican-backed proposal that, like the GOP Senate plan, would draw from the health law’s prevention fund.
The White House had signaled that President Obama would likely veto the GOP House bill if it reached his desk.
As the Senate began floor debate today, Republican Senator Scott Brown of Massachusetts, who voted with his party to reject the Democratic plan, proposed legislation that he hoped would cut through the partisan divide.
Brown’s answer: Using money the government already has but mistakenly spends. Brown, citing data he says he obtained from the Office of Management and Budget, wants to use part of the $115 billion in “improper payments made by the federal government.’’ Such payments, his office said, include money sent to the wrong recipient, incorrect amounts, and improperly disbursed funds.
It's called waste, fraud, and abuse.
Brown proposes tightening payment rules and launching a pilot program to audit and recover improper payments....
Whether Brown’s proposal can get a hearing will depend on the Senate’s Democratic leadership.
“What matters now for Democrats is that they find a way to drive a wedge between Republicans and a constituency that they’re looking to court ahead of the November elections. That’s what today’s vote is all about for them,’’ said Senator Mitch McConnell of Kentucky, the Senate’s top Republican.
Even if you hate him he is right about that.
For Amber Testa, 23, of Hopkinton, higher interest rates would add to the already heavy burdens faced by college students who face bleak odds of finding a job.
“My family’s been helping me with my debt, and when you’re unemployed its very daunting,’’ said Testa, who graduated from Roger Williams University with nearly $20,000 in student loan debt....
Many of the students who could be hard hit by the rise in interest rates are community college students, and those from poor and working-class backgrounds.
With Congress being full of a bunch of rich, bank-serving elites. Yup, the Congress is really looking out for you kids!
In 2007, Congress lowered interest rates on Stafford loans to ease the burden on recent college graduates unable to find jobs because of the faltering economy.
The fight over the college loans is the latest example of the election-year partisan gridlock that grips Congress, as both parties bait each other for political advantage....
Yeah, it is ALL a BIG F***ING S*** SHOW FOOLEY, kids!!!
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I do know one thing: kids are smart enough to know when they are being played. That's why they are a big part of the Occupy movement.
Related: Obama Finds Fountain of Electoral Youth
Sunday Globe Special: Student Loan Legacy
The only debate is how big a ball to fix to your ankle.
Also see: Social Security Garnished for Student Debts
