The Democrat Party just sent this email:
|BREAKING: President Obama threatens to veto Republican bill raising student loan rates In a few hours, John Boehner and House Republicans are voting to increase student loan rates to as high as 8.5% for the families who already struggle the most to afford a college education.That is despicable. President Obama is threatening to veto, but he needs you behind him to stop this disaster of a bill.
Tell House Republicans that we won’t let them wring every last penny out of middle class families: Automatically sign your name to stand with President Obama >>
Will you stand up for middle class families and students across the country by putting all your influence behind President Obama’s veto threat?
Van Jones says the rates are automatically going up on July 1. The Democrat Party says Republicans are going to vote to raise them. Sadly, the low information voter will believe the lies – evil Republicans! Can America survive?
by: Diane Benjamin
Van Jones, communist and former Obama czar, sent the below email today. Obama supporter and new Senator, Elizabeth Warren, is outraged at the debt students incur to attend college.
In 2009 the federal government began a takeover of the student loan program (http://online.wsj.com/article/SB10001424052970203440104574405154157021052.html) to fund ObamaCare. Now they are outraged that the government made $51 billion last year, even though the scheduled interest rate increase was rolled back.
So, both Jones and Warren love Obama, ObamaCare, and cutting banks out of student loans. Who is giving away money to banks at ridiculously cheap rates? That would be the Federal Reserve and Ben Bernanke. Why is Bernanke keeping the rates so low? Because the economy is barely limping along and low rates keep the stock market sailing because there is no where else to park money and get any sizable return.
They are setting up the collapse of at least ObamaCare, the House isn’t going to fund the loss of interest income. The student loan interest rate is going to increase again on July 1st. Expect a quick fix to keep the rate from going up.
But the question remains, is the left fighting the left? Or, what are they up to? Brush up on “Rules for Radicals”.
|Does America really love Wall Street bankers NINE TIMES more than we love our struggling students?If you are a Wall Street banker who needs a little cash, the federal government will loan you money through the “discount window” with virtually no interest — as little as 0.75%.But if you are a young person trying to get an education… the rate on federal Stafford student loans is set to double! Unless something is done, it will go from 3.4% to 6.8% on July 1.That is right: We would be charging America’s youth nine times more than we ask from the mega-profitable banks that caused that crisis in the first place.Senator Elizabeth Warren has introduced the Bank on Students Loan Fairness Act, which would give students the same deal that banks get. We need to get behind this in a big way.
Sign: Tell your senators to co-sponsor Senator Warren’s bill.
If you can believe it, this story is actually WORSE than it appears. The federal government this year made $51 billion in profit off the student loan program. That is about as much as the four biggest Wall Street banks earned all together!
The average student graduates with $26,000 in student debt, and 10% are $50,000 in debt or more. Americans hold more than $1 trillion in student debt. Tuition costs are skyrocketing. Youth unemployment is the problem no one will talk about.
On top of it all, last year’s one-year extension of the low 3.4% rate for federal Stafford loans is set to expire on July 1st. The ONLY reason that extension passed at all is because people like you made it an issue in Washington, D.C. You wrote more than 300,000 letters and made tens of thousands of calls, and you saved student millions of dollars.
We should be proud — and ready to fight for fairness again. And this time, we should fight for bolder, more long-term solutions.
Senator Warren’s bill is the best idea I have heard in a long time. (I just hope it can be extended for more than one year!)
We are fighting for real change and backing champions like Elizabeth Warren. Are you ready to sign on?
If we can afford to loan cheap money to banks, we can afford to invest in education.
Van and the Rebuild the Dream Team