Student Loan Interest Rates: This Shouldn’t Be An Issue
It’s funny many harp on President Obama for being just as bad as Republicans when it comes to selling out to big Wall Street banks…yet here he is urging Congress to pass legislation preventing student loan interest rates from doubling.
Now lets use logic here and think about this for a second:
-A higher interest rate would mean increased revenue for many banks, yet Obama is trying to prevent this rate hike.
Logic would dictate that if he was bought and paid for by big Wall Street banks he’d simply let the interest rates double, providing a giant boost in profits for those financial institutions. Of course for people who understand how our government works they realize President Obama really has no power to make legislation. So that’s up to Congress…
OH wait today the House did pass a bill that would prevent the interest rate increase…if Democrats in the Senate, and the President, allow massive cuts to the Affordable Care Act.
So who’s really trying to help the American people and who’s trying to hold their well-being hostage:
-The President who wants the interest rates to remain the same, while vowing to veto any cuts towards health care.
-The Republican controlled House who will only pass the continuation of lower interest rates if the President cuts funding for health care.
Why is it when it comes to tax cuts, or breaks, for the wealthy Republicans have no problem passing those without any stipulations but just as they did with the payroll tax cut, FEMA disaster funding and now student loan interest rates they’ll only pass that legislation if it benefits their own special interest.
Lets think about this for a moment:
Republicans claim tax hikes for the rich are unconstitutional, un-American and “job killers” but it’s perfectly acceptable to hesitate on allowing a middle class tax cut to expire, battling to withhold disaster relief until they get a reduction in funding for the EPA or Planned Parenthood and now they’ll only pass legislation preventing an interest rate hike on millions of Americans if they get cuts on health care.
Who’s waging class warfare again?
Oh and for the record…the budget the Republican led House recently passed called for the increase in student loan interest rates. It’s only after intense public pressure from the American people that Republicans in the House began to address the doubling of student loan rates and considered legislation to prevent it from happening. Just as with the payroll tax cut and FEMA disaster relief their initial plan was that of what benefited their agenda more than our nations citizens. It’s only after the American people voiced their anger that Republicans took notice, finally acting on legislation that helps average Americans. However as with most of their legislation they’re still attempting to push their own partisan agendas while providing that assistance.
It’s simply pathetic. When will Republicans learn waving a flag and yelling you love America doesn’t do you a damn bit of good if nearly every piece of legislation you pass shows just how much you really couldn’t care less about 99% of Americans.