The interest rates on student loans are set to go up on July 1 if Congress does not act. Republicans, of course, are saying that students just need to deal with it, because the national debt needs to be lowered. Yet they won't even THINK of raising taxes on the rich. They claim that the national debt is hurting the economy, yet as President Obama pointed out, so does making it harder to get education, and less education only makes the economy even worse. Of course, there is always a political motivation, and Obama is of course attempting to gain the youth vote. The total amount of student loans in America now total $1,000,000,000,000; that is a HUGE source of debt, about 6.25% of the debt owed by the government, who has many, many more expenses. 40% of adults over 35 who took student loans still haven't payed them off, yet Republicans STILL insist that student debt is not that big of an issue.
And now that this is becoming such a huge negative issue for the Republicans, they are proposing to pay for these subsidies by taking money out of the Affordable Care Act; raising taxes on millionaires and billionaires just isn't an option. I mean, why should people who have more money than they know what to do with find a way to actually use SOME OF that money?
And here's a funny (and worrying) bit on this issue from Jimmy Fallon, President Obama, and the Roots.
And now that this is becoming such a huge negative issue for the Republicans, they are proposing to pay for these subsidies by taking money out of the Affordable Care Act; raising taxes on millionaires and billionaires just isn't an option. I mean, why should people who have more money than they know what to do with find a way to actually use SOME OF that money?
And here's a funny (and worrying) bit on this issue from Jimmy Fallon, President Obama, and the Roots.
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