The debate above on the topic: The Rich Are Taxed Enough-- Robert Reich and Mark Zandi vs Glenn Hubbard and Arthur Laffer-- took place in 2012. At its core, the question came down to whether or not the richest are paying their fair share in taxes.
The battle over refinancing student debt has been playing out-- badly-- in the Senate. Senate Republicans have filibustered Elizabeth Warren's bill so that it couldn't even be formally devoted on the floor.And in the House? Education and the Workforce Committee Chairman, John Kline, has bottled up the House version, H.R.
Yesterday, the Republicans successfully filibustered Elizabeth Warren's Bank on Students Emergency Loan Refinancing Act. All 44 cosponsors are Democrats and all 38 filibusterers were Republicans. It needed 60 votes but fell 4 short.
This morning, writing for the NY Times, Natalie Kitroeff looks at why its so hard for young people in New York to buy-- or even rent-- homes. And her culprit: student debt. "More students," she writes, "are taking out bigger loans than ever before, and in the last 10 years alone, education debt tripled, reaching over $1 trillion. A record number of college students are graduating knee deep in a financial hole before they begin their adult lives."
"College graduates who borrowed for bachelor’s degrees granted in 2012 have an average student loan debt of $29,400, the highest average student loan debt on record."-- finding of the Institute for College Access and Success, quoted by Allison Kilkenny"For this story, I interviewed people who developed crippling mental and physical conditions, who considered suicide, who had to
Having been mercilessly smeared for 6 years by right-wing media, Obama is now profoundly unpopular in red states. The ultimate "gotcha" moment for Republicans was when they were able to paint the president as dishonest in the "you can keep your healthcare if you like it" statement. Anyone who ever wanted to hate Obama now has all the reason they ever wanted. In Montana, his approval rating has sunk over 10 points since Tester and Obama were running for reelection last year and is now a dismal 34%. Democrats in red states and red districts aren't mentioning him.
Wednesday the House overwhelmingly passed the patently unfair student loan amendment the Senate cobbled together.
Last week we were dismayed how Obama pressured Senate Democrats into a putrid deal with Republicans (and through them, Wall Street) on the student loan debacle. Today the Senate is scheduled to vote on the bill, which benefits students in the short term and crucifies students over time-- a really ugly, shameful compromise.
THE PROBLEM SOLVERS (pretty painting by Attila Richard Lukacs)Obama pressured Democrats into a putrid deal with Republicans (and through them, Wall Street) on the student loan debacle.
