President Obama On Student Loan Law: ‘This IS The Economy’

President Obama, saying Republican critics have accused him of trying to “distract from the economy” by focusing on a bill preventing some student loan interest rates from doubling this week, told students in Iowa that he saw the issues as impossible to separate.

“These guys don’t get it,” Obama said. “This is the economy. This is about your job security, this is about your future. If you do well, the economy does well. This is abut the economy.”

He continued: “You are the economy. If you’ve got schools, if you’ve got talents, if you’re starting a business and companies are locating here in Iowa because they have a well trained workforce – that’s the economy. That’s how we’re going to compete: making sure our next generation earns the best education possible is exactly America’s business.”

In fact, Romney has also backed keeping the lower rates in place based on the economic struggles of college students, though it’s unclear whether he and House Republicans will support legislating extending them without offsetting cuts elsewhere – cuts the White House opposes.

At one point coughing during his speech, Obama turned the unscripted moment around to joke the idea of rates going up made him physically ill.

“Stopping this from happening should be a no-brainer,” he said. “It makes me sick just thinking about it. Helping more young people, helping more young people afford college should be at the forefront of america’s agenda and it shouldn’t be a Republican or Democratic issue. This is an American issue.”

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