Fri Apr 27, 2012, 01:15 PM
Galraedia (4,050 posts)
Conservative Group Club For Growth To Congress: Let Student Loan Rates Double
The House will vote today on a bill to prevent the interest rate on government-backed student loans from doubling. Both Republicans and Democrats support the extension on the lower rate, but not the Club for Growth, the deep-pocketed political group backed by wealthy conservative donors, especially from the financial sector.
The group put out a “Key Vote Alert” this morning “urg all House members to vote “NO” on the Interest Rate Reduction Act (HR 4628)” and warning members that their vote may be used against them on the Club’s Congressional Scorecard, which they use to rate members when making considerations about endorsements and independent expenditures.
The Club explains that it thinks the government should not be subsidizing student loans and that the the Affordable Care Act should only be repealed as a whole:
Regardless of the merits, the government should not be in the business of subsidizing student loans. It’s bad policy to subsidize student loans in the first place, but the net result will likely drive up tuition costs for all students, making the overall cost of the bill much higher than its current price tag. House Republicans want to offset this subsidy by repealing the Prevention and Public Health Fund that was created with the passage of ObamaCare. That fund should indeed be repealed, but fiscal conservatives should only try to repeal the entire law, not just parts of it. And for the most part, the offset is irrelevant. Fiscal conservatives should not be promoting bad policy, which this bill contains.
Read more: http://thinkprogress.org/politics/2012/04/27/472653/club-for-growth-student-loans/
4 replies, 1540 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Conservative Group Club For Growth To Congress: Let Student Loan Rates Double (Original post)
|phantom power||Apr 2012||#1|
Response to phantom power (Reply #1)
Fri Apr 27, 2012, 01:32 PM
KansDem (27,764 posts)
2. And with their privatized secondary educations...
...we'll have a nation of "college-is-too-expensive" cogs ripe and ready to work for the one-percenters!
Response to Galraedia (Original post)
Fri Apr 27, 2012, 01:54 PM
KatyMan (1,891 posts)
3. " but the net result will likely drive up tuition costs for all students"
Why are people/groups allowed to make statements like this with nothing to back it up? Why doesn't some reporter call them up and say 'prove it'?