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 Obama springs student loan trap on GOP.......Posted by Bobby Moore LINK /  on 4/26 at 9:07 amThe Democratic Party is springing a five-year-old political trap that may help President Barack Obama win support from middle-class parents and young voters. Their trap is the scheduled election-year doubling of interest rates on government-provided student loans. The pre-planned doubling forces GOP politicians to either approve a Democratic measure that extends the low interest rates, or else face protest from millions of students and their middle-class parents. Many GOP legislators dislike the subsidized interest rate because it inflates education costs while delivering a disguised subsidy to the Democrats’ political allies in the education industry. The trap “kinda makes sense,” said Mark Kantrowitz, publisher of Finaid.org, a financial aid website. “It’s a ‘Heads I win, tails you lose,’ scenario, where if President Obama succeeds in getting it extended a for a year he gets a victory for a key segment of the voters [and] if it gets blocked, he can blame his opponents for blocking it.” “Either way he wins,“ Kantrowitz said. Reply • Back to Top |
| Yep. This and the payroll tax bullshite, which should never have happened. If you are going to have government programs such as social security and medicare, you cannot cut the money going into them, especially since solvency of them in the future was already an issue not being addressed. Reply • Back to Top |
| It's too bad it's impossible to explain to the morons that artificially compressed interest rates actually cost you more money. Reply • Back to Top |
| GOP just needs to tie the extension to a shitload of cuts to Dem "pet" programs to "pay for" the extension, and then they can turn it around to say that "X is more important to the Dems than you getting a break on your loan interest." Reply • Back to Top |
quote: We had a four page thread about this yesterday. It's amazing that you can acutally hurt people in the long run and make them love you for it. The student loan situation truly is simple economics. If you make a limited supply available to more people you will increase the price. Also you will water down the overall system and create crappy spinoff alternatives. Libs may hate the for profit colleges but they are largely responsible for their creation and continued existence. Reply • Back to Top |
| Oh boy!!! Reply • Back to Top |
quote: Right. It will pass in the House and they will kill it in the Senate. Maybe they can attach the permission of the Keystone pipeline to the interest rate extension. Call it the "Affordable Education and Energy Act", or some bull shite along those lines. Reply • Back to Top |
| I wouldn't really consider this a "trap". Obama is counting on the the ineptitude of the public to cause a stir about this. In reality, this so called interest rate increase was part of a bipartisan passed reconciliation bill back in 2007 for the FY 2008 Budget . The rates where set to decline over a 4 year academic period and then go back to the mutually agreed upon 6.8% interest rate. The only people that benefit from the 3.8% interest rate are students taking out loans during the 2011-2012 school year that qualify for SUBSIDIZED Stafford Loans. This increase has no affect on the trillion dollars in outstanding student loans. But the White House is counting on the public viewing this as an across the board increase in student loan interest rates regardless of when you took out the loans. It truly is sad that the general public cannot see through this BS. Obama is reaching for straws.  Reply • Back to Top |
| The R's should just attach it to their budget and make the D's shoot it down. Reply • Back to Top |
quote:  Reply • Back to Top |
quote: The Gulf Coast portion from Cushing south is already in play. Would just need to tie the part from cushing north to the border. Didn't you see The Messiah in Cushing? Barry looooves him some pipelines.  Reply • Back to Top |
| Beat me to it. Reply • Back to Top |
quote: I would probably murder someone to have a 3.8% interest rate. Reply • Back to Top |
| that is a nice "subsidized" interest rate, but the white house is spinning this. I went to school from 2005 to 2009 and ended up with around 20,000 student loans. This so called interest hike will have no affect on my loans whatsoever, but the President sure as hell makes it sound like my interest rate is about to double. Reply • Back to Top |
quote: Oh wait ... there is none. Reply • Back to Top |
quote:  Reply • Back to Top |
quote: Attach that shite to the Ryan Budget and turn the table on Odummy and Harry Peed Reply • Back to Top • Refresh |
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