STOCK MARKET WATCH -- Wednesday, 9 May 2012

[Demeter]

59. GOP blocks Senate debate on Dem student loan bill

THE GOP IS ON A SUICIDE MISSION FROM GOD....

http://www.latimes.com/news/la-naw-student-loans-050812,0,4152825.story?track=rss

Senate Republicans derailed a Democratic bill on Tuesday that would keep interest rates on federal college loans from doubling July 1 in an election-year battle aimed at the hearts - and votes - of millions of students and their parents.

Republicans said they favor preventing the interest rate increase but blocked the Senate from debating the $6 billion measure because they oppose how Democrats would pay for it: Boosting Social Security and Medicare payroll taxes on high-earning stockholders of some privately owned corporations.

GOP senators want a vote on their own version heading off the interest rate increases and paid for by eliminating a preventive health fund created by President Barack Obama's 2010 health care overhaul. That financing idea has no chance of passing the Democratic-run Senate and has drawn a veto threat from the White House.

Tuesday's vote was 52-45 in favor of starting debate on the Democratic legislation - eight votes shy of the 60 needed. Senate Majority Leader Harry Reid, D-Nev., was the only one to defect his party's position, a procedural move that will allow him to hold the vote again should the two sides work out a deal later....


GOOD OLE HARRY "WEAK" REED.