Quote:
Originally Posted by Boss
The house republicans had to be fought to get it as low as it is now. While the right on this forum are complaining.
Lets see what the right says when large numbers cant pay back because of the low wages a lot of grads are earning.
|
Every issue is a partisan one, every issue requires a fight now. Do we think this is really working or benefitting anyone but the fat cats in DC? The constant posturing and hot air spewing of partisan politics does nothing.
A low rate is a good thing. The lower, the better. But the government is paralyzed, for one because its left hand does not want to work with its right and vice versa. Compounding the issue, the fed does not have the sophisticated lending strategies in place to do what it is trying to do, so it makes things worse. The issue is not just the rate, but the ability of the borrowers to get a lower rate when one is available. Right now, they can't. Government coffers swell while they try to work it out.
With a lower rate, graduates can spend their money on things that stimulate the economy and create jobs, like renting apartments, buying houses, cars and clothes, and traveling (which all gets taxed anyway). Instead, they have to give their money directly to the government (at rates up to almost 7% in many cases), stimulating the government rather than the economy, which is skinny at the moment. While I serve neither the economy nor the government, I recognize that a robust economy allows me more freedom and independence to choose the life I prefer, whereas our government likes to choose for me.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
