Thursday, July 11, 2013
Democrats Block Vote on Lowering Student Loan Rates - The Upside Down world of Washington.
From the the New York Times – headline: “Rift Among Democrats Stalls Effort to Reverse Rise in College Loan Rates”, speaks to the unimaginable – Democrats are divided regarding reducing student loan interest rates.
The Stafford subsidized student loans are set to increase, the suggestion was to lower the interest rate on these loans prior to fall, when millions of student loan consumers would be faced with the current high interest rate – which, the entire student loan industry takeover, was part of a budget passed by Democrats prior to 2010.
A bi-partisan committee worked out a compromise they felts sure the Democrats and Republicans could get behind – the Republicans basically endorsed Barack Obama’s plan, and the Democrats could not agree – voting no against the bill – the crusty old crazy man from Utah – Harry Reid.
Normally the headlines blare – Republican’s in Disarray or Republican block important – name and entitlement. However, to understand that both parties have their issues, infighting and degrees of stupidity, is the big announcement on this one.
Pony up and pay more, and thank Harry Reid and those stalwarts that refuse to compromise on something that would actually help the economy.
Other bills most likely not to get anywhere:
Immigration – stalled in the House – project pushed until after 2014 elections
The Affordable Health Care Act – now that the employer mandate has been removed, it is only fair, form the Republican House point of view, that the individual mandate also be removed (as that would leave everyone in the nation subject to fines, and having proof of extremely pricey insurance policies. The House can also defund the entire program, starting with the IRS. Although law, it appears to have hit a brick wall. – Repeal and rewrite a reasonable health care bill, including border crossing insurance buys, with possible subsidies, would fit the bill. Take off the penalties, and let a doctor or twenty write the language. Put the consumer back in control of their own health.
Posted by Tina Hemond at 6:19 AM