Democrats Fiddle as Doubled Loan Interest Rates Burn Students
Student loan interest rates are poised to double on July 1.
TheCollegeConservative contributor Tanner Brumbarger is critical of Democratic Party leadership claims that this situation is a “winner” .
According to Democrat Charles Schumer, student loans are a “messaging winner for Democrats.” However, reality would dictate that this is not a winning issue for Democrats, as they are not united. Currently, the Senate Democrats and The White House aren’t even on the same page, as seen in the debate that happened last Thursday between Sen. Elizabeth ‘Cherokee’ Warren and Republican Richard M. Burr. When Burr proposed the White House plan, Senator Warren was up in arms and instead offered up her own plan. Her plan is simple-ish: “offer them the Federal Reserve’s discount rate offered to big banks, currently, .75%, to students.”
If this is such a big issue, then why are Democrats not united behind their curtain of greater good under the guise of guaranteeing college diplomas for everyone? In reality, the issue being brought forth to the American public is an artificially created crisis, engineered by years of big government profiteering off of those young citizens looking for financial aid as part of that well-managed “a college degree for everyone” campaign. (Funny: this sounds a lot like the progressive “chicken in every pot” campaign masked as a salvation agenda during the Depression.)
Now that the bubble is facing the possibility of being popped, the Democrats have turned on damage control. The media won’t tell you this. And somewhere along the way, the Republican pro-business approach will be blamed.
Rather than trying to fix the problem, Democrats are planning on letting the loans double… and are doing so in an alarmingly quiet fashion. We know this because so many of them have voted against Sen. Tom Coburn’s proposed solution: S. 1003, “Comprehensive Student Loan Protection Act.” Don’t believe it? Let’s look at some examples of what’s unfolding before our very eyes.
North Carolina Democrat Senator Kay Hagan: “Our Students can’t afford anymore debt.” Yet, she voted against Coburn’s act. She’s not the only one: Democrats Begich, Landrieu, Braley, Peters, Udall, and Franken all expressed their intentions to reform the student loan mess, yet they all voted against the reform bill.
And has anyone paid attention to the incentives for student loan reduction if you are a federal employee? (Translation: if you keep building the machine, your loans will be paid off by the government.) But I digress.
The bigger issue here is: where is the media? How will the spin be on July 1st when interest rates double and the Democrats are to blame?
Student Loan Interest to Double, Democrats Plug Their Ears (TheCollegeConservative)