Skip to main content

President Obama delivers his 2011 State of the Union address
If Congress doesn't act, student loan rates double in 10 days, on July 1. According to President Obama, speaking today to students, if that happens, "more than 7 million students will be hit with the equivalent of a $1,000 tax hike," yet "we've been stuck watching Congress play chicken with another deadline."

Senate Minority Leader Mitch McConnell referred to the president's focus on student loans as "another sad example of his election-year strategy of deflection and distraction." McConnell's official logic here is that the House passed a bill that would extend the lower student loan interest rates—by cutting funding for cancer screenings and childhood immunizations. Senate Republicans, meanwhile, filibustered a bill that would have kept student loan interest rates low by closing a corporate tax loophole. According to McConnell, since the House passed a bill and the Senate hasn't yet, the Senate should pass the House bill and the president should sign it, regardless of what exactly is in the House bill.

Obama urged students and parents to keep up the pressure on Congress to extend the 3.4 percent interest rate without demanding unacceptable trade-offs, pushing back on Republican claims that this issue is a distraction from the economy by noting that "this is the economy." It's hard to know what else to call adding a $1,000 a year burden to 7 million working-class and middle-class young people. "Tell them," he said, "to double down on an America where everybody who works hard has a fair shot at success."

Fri Jun 22, 2012 at 9:56 AM PT: As Obama says, we need to keep the pressure on. Tell Congress to act now and prevent student loans from doubling on July 1.

Originally posted to Daily Kos Labor on Thu Jun 21, 2012 at 11:30 AM PDT.

Also republished by ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement, Progressive Hippie, German American Friendship Group, and Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site