Dem Student Loan Bill Raids Medicare and Social Security, Penalizes Job Creators “One of the most heartbreaking yet underreported consequences of the Obama economy is the extent to which college graduates are stepping out into a world where the possibilities no longer seem endless
BigNews.Biz - Apr 29,2012 - Dem Student Loan Bill Raids Medicare and Social Security, Penalizes Job Creators
Washington, D.C.– U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Wednesday regarding the tough job market college graduates are facing in the Obama economy:
“One of the most heartbreaking yet underreported consequences of the Obama economy is the extent to which college graduates are stepping out into a world where the possibilities no longer seem endless.
“Unlike generations past, today’s college graduates are more likely to end up either unemployed or back at home with mom and dad, saddled with student loan debt, than they are to end up with the job of their dreams.
“For a great many of them, the excitement and the promise of President’s Obama’s campaign four years ago have long since faded as their hopes collided with an economy that he’s done so much to reshape.
“So it’s understandable that the President is so busy these days trying to persuade these students that the struggles they face, or will soon face, have more to do with a piece of legislation that we expect to fix than it does with his own failed promises.
“It’s understandable he’d want to make them believe the fairy tale that there are villains in Washington who’d rather help millionaires and billionaires than struggling college students. But that doesn’t make this kind of deception any more acceptable.
“Today, the President will hold another rally at which he’ll tell students that unless Congress acts, their interest rates will go up in July. What he won’t tell them is that he cared so little about the legislation that created this problem five years ago that he didn’t even show up for the vote. And that once he became President, he didn’t even bother to include a fix for it in his own budget.
“Look: if the President was more interested in solving this problem than in hearing the sound of his own voice or the applause of college students, all he’d have to do is pick up the phone and work it out with Congress. We don’t want the interest rates on these loans to double in this economy. We don’t want today’s graduates to have to suffer any more than they already are as a result of this President’s failure to turn the economy around more than three years into office.
“The only question is how to pay for it.
“Democrats want to pay for it by raiding Social Security and Medicare, and by making it even harder for small businesses to hire. We happen to think that at a time when millions of Americans — and countless college students — can’t even find a decent job, it makes no sense whatsoever to punish the very businesses we’re counting on to hire them. It’s counterproductive, and it’s wrong.
“And let’s be honest. The only reason Democrats have proposed this particular solution to the problem is to get Republicans to oppose it, to make us