Republicans Essentialy Vote to Double Interest on Student Loans

[arely staircase]

Senate Democrats' one-year student loan fix was filibustered Wednesday, with 51 senators voting to move forward with it and 49 senators voting to block it.

The measure would have reverted student loan interest rates to 3.4 percent for one year after they doubled for new loans last week. It would have been funded by scaling back a tax loophole for individual retirement accounts (IRAs) that mostly benefits high earners.

http://livewire.talkingpointsmemo.com/entry/senate-dems-student-loan-plan-fails-due-to?ref=fpb

[11 Bravo]

1. To be fair, they had already pissed off all of the Latino and women voters. What was left ...

other than going after college students?

[CurtEastPoint]

2. Again... how does 49 trump 51? Please explain to me.

[Blanks]

10. Filibuster rules in the senate.

http://en.m.wikipedia.org/wiki/Filibuster_in_the_United_States_Senate

[GeorgeGist]

3. Thanks Harry.

[Scurrilous]

4. Yes, he's the one who should be singled out for scorn.

[Carlpatrick]

5. Actually....

the rates were reduced in '08-'09 from the 6.8%...Dem House and Senate...could have made the lower rates , the 3+% permanent.....of course you all know why the Dem's didn't even after Obama was sworn in...gave the loan rates an expiration prior to the '14 mid-term.

I get the game....and people fall for it.

[arely staircase]

6. and now they are trying to extend the lower rates and the republicans oppose it

nt

[Carlpatrick]

8. Again...

Democrats ALSO voted to allow the rates to revert to the previous rates....did you read the votes total?
Wasn't R's that killed lower rates. They didn't propose the rate or the Sunset provision.

[arely staircase]

12. Again, Dems wanted to extend the lower rates and the Republicans blocked it

therefore, Republicans effectively doubled interest on student loans.

[liberal_at_heart]

7. The 1% control the pieces, and we lose the game.

[Enrique]

9. maybe so

I share the attitude in this post, but some links would help, as well as a coherent argument.

And as far as the motivation of Congress in 2009 being the 2014 midterms, that sounds implausible to me, certainly not "we all know".

[bighart]

11. From the link:

"Senate Democrats have been divided over how to proceed. Three of them partnered with Republicans to cosponsor an alternate proposal with a permanent fix, which ties the interest rate to the 10-year Treasury note, with some adjustments. That plan resembles proposals put forth by the White House and passed by the House."