Saturday, May 26, 2012

Republicans Made Sure That Student Loan Rates Would Double July 1


The White House sent this release out yesterday:
With only 37 days left to stop student loan interest rates from doubling on July 1, Senate Republicans still have not proven that they’re serious about resolving this problem. For the second time this month, they voted to ask millions of students to pay an average of $1,000 each rather than close a loophole that allows the very wealthy to avoid paying their fair share. Now is not the time to refight old political battles, and certainly not the time to cut preventive health care measures. With only a few days left until student loan interest rates double, it’s time to get this done so hard working students get a fair shot at an affordable education.

So how did Republican senators respond? They defeated the proposal by the Democrats, which needed 60 votes to pass, 51-43. Every single Republican, except fake moderate Olympia Snowe (who voted "present") voted against the last ditch effort to keep interest on loans going from 3.4% to 7.6%. One conservative corporate shill among the Democrats, Jim Webb of Virginia, voted with the Republicans. Earlier in the day the GOP offered their version of a bill and it was voted down 62-34, the 10 most radical right Republican extremists voting against their own party's bill since they felt is moved too close to the Democratic position (namely that poor people should also get college educations). The most viciously anti-education Republicans... same old extremists who hate America most:
Richard Burr (R-NC)
Tom Coburn (R-OK)
Bob Corker (R-TN)
Jim DeMint (R-SC)
Jim Inhofe (R-OK)
Ron Johnson (R-WI)  
Mike Lee (R-UT)
Jerry Moran (R-KS)
Rand Paul (R-KY)
Pat Toomey (R-PA)

The Democratic proposal is based on keeping the interest rates low by raising Social Security payroll taxes on high-earning stock holders of some privately owned companies. The Republican proposal seeks to pay for it by gutting health care reform, particularly in terms of preventive medicine, which Republicans don't believe is suitable for poor people, only for the wealthy. Miss McConnell blames President Obama... of course:
“If the president has got time to run around to late-night comedy shows and college campuses talking about this issue, then he can pick up the phone and work out a solution with Democrats here in the Senate. If the president really wants to pass this bill so badly, then why on earth hasn’t he picked up the phone and spoken to the chairman or ranking member of the committee? He’s campaigned on it but not actually fixed it.”

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