Senate Republicans block Warren’s student loan bill
Source: Boston Globe
WASHINGTON Senate Republicans on Wednesday blocked legislation aimed at letting people refinance their student loans at lower rates, a pre-ordained outcome that gave Democrats a fresh election-year talking point against the GOP.
The 56-38 vote fell short of the 60 that would have been needed to advance to debate on the measure by Sen. Elizabeth Warren, D-Mass. Her bill would have let millions of borrowers, some with years-old debt and interest rates topping 7 percent or more, refinance at todays lower rates.
The bill would have been paid for with the so-called Buffett Rule, which sets minimum tax rates for people making over $1 million.
With this vote we show the American people who we work for in the United States Senate: billionaires or students, said Warren. A vote on this legislation is a vote to give millions of young people a fair shot at building their future.
Read more: http://www.bostonglobe.com/news/politics/2014/06/11/senate-republicans-block-warren-student-loan-bill/4MAViNcoF5L5lcp8HG0GCM/story.html
frazzled
(18,402 posts)They've blocked untold numbers of Obama's proposed legislative initiatives (the comprehensive Jobs Bill, for example, which contained many progressive policy measures). And many have railed against him for not fighting hard enough, or doing more. I hope that same discourtesy will not be extended to Senator Warren now that her excellent bill is kaput, along with the revenues from millionaires.
The moral of the story is: it doesn't matter how great an idea a political leader has. If the system prevents it from moving forward, it doesn't happen.
And no matter who we put in the WH in 2016, Clinton, Warren, Sanders, or any other democrat, it won't change things if we don't get rid of those causing the obstruction. We have to keep control of the Senate this year, at least gains seats in the House, and then take control of both of them in 2016. Otherwise we will go through the same crap that president Obama has had to go through. Anyone who can't see that and realize what needs to be done is not really dealing with the reality of things.
NOT getting out the vote is not an option. If we want change we need to change the makeup of congress, starting right now!
karynnj
(59,501 posts)reasons, that means they need 3 more. This really seems like something where there is a LARGE group of smart educated young people who could apply pressure to more of the swing state Republicans.
This is also something good for the country as a whole, but the fact that there should be a large group of people who should be able to demand action, I wonder if that filibuster can be broken.
CTyankee
(63,901 posts)afford to rent an apt., even if they have a job...all their money gets tied up in paying back the loans..
So now there are two more constituencies of voters who have a pocketbook issue to vote on...and a pretty strong one...
customerserviceguy
(25,183 posts)this isn't going to swing them over.
I wonder just how sympathetic most mushy middle voters are towards people who borrowed many thousands of dollars on student loans. My guess is that we'd be shocked at how little the people who make up their minds the weekend before an election care about them.
CTyankee
(63,901 posts)That was my point!
customerserviceguy
(25,183 posts)we should already have them. Someone with anything more than a modest amount of student debt (as measured by the person trying to pay the loans with whatever employment they ended up with as a result of that education) should not feel like a one-percenter who would vote Republicon because they think they're going to make out even better.
If someone working at Starbucks for minimum wage and tips, who has thousands of dollars of student loans to pay off doesn't already vote Democratic, we just don't have any hope of reaching that person.
CTyankee
(63,901 posts)if they don't then no amount of college will do them any good...
groundloop
(11,518 posts)If private educational loans aren't being included in this discussion they need to be.
Whoopdedoo
(60 posts)He allowed Federal Student loans to be renegotiable. The bipartisan bill Warren was pushing for was for the private sector loans that are not negotiable. GOP are just being their usual douche baggery because of the tax on the wealthy which was in the bill.
Swede Atlanta
(3,596 posts)this is something Warren keeps pointing out.....
Big banks get to borrow money from the government at next to nothing... something like .25% or something and we are charging our students anything from 2-3% up to 10-12%. It is criminal that we lend money to the big banks for free and they turn around and use that to rip off more consumers without any fear of prosecution or shame but make students who are just starting out their lives pay dearly for this 'seed' money.
It is widely reported today that Americans owe more in student loan debt that consumer credit card debt! Further the drain on the household budgets of these students is weighing on the economy because they aren't able to inject their income into the economy in the form of buying goods, houses, cars, etc.
Enthusiast
(50,983 posts)Proof positive that Republicans suck. As if we didn't know it all along.
SummerSnow
(12,608 posts)Prevent middle income and low income students from going to college
reddread
(6,896 posts)their agenda is to make the banksters more money and keep the common people broke.
they arent alone, either.
AngryDem001
(684 posts)now can we? An educated populace is the greatest enemy to the radical conservative agenda.
I hope Warren SLAMS these bastards!
reddread
(6,896 posts)and more educated people are more easily fooled, the way we do it.
Iwillnevergiveup
(9,298 posts)if ANY Rethug senator voted no as partial payback for Cantor's humiliating defeat.
The comments section from the article are sure anti-Warren.
valerief
(53,235 posts)TRoN33
(769 posts)He want to privatize entire student loan programs, abolish Department of Education, and privatize entire educational programs.
He said he is all for creating more jobs but if he eliminate Dept of Education, it will cause more than 60,000 jobs lost instantly and another 150,000 to follow. Cruz is terrible and absolute anti American.
AngryDem001
(684 posts)YOHABLO
(7,358 posts)Iwillnevergiveup
(9,298 posts)Reid voted "NO" and McCaskill didn't vote, otherwise Dems stayed in line.
mimi85
(1,805 posts)called in sick today. Must have had a note from Mom.
Timez Squarez
(262 posts)YOHABLO
(7,358 posts)Paulie
(8,462 posts)Otherwise it's dead dead. It's a procedural thing.
CanonRay
(14,097 posts)They're the ones getting screwed, this time.
mike_c
(36,281 posts)...by more than a few hundred dollars a year. I pay about $750/month. I won't live long enough to pay this debt off-- I've been paying for almost 20 years and the principle has only gone down about 10%. It's lifetime indentured servitude.
hughee99
(16,113 posts)and only gotten the principle down 10% over 20 years at 8.14 percent? That is astounding.
mike_c
(36,281 posts)I've had a couple of short financial hardship deferment periods during that interval, so I've not paid back quite that much, but I've more than repaid the original principle and the debt has only declined from about $75K to $65K, so a little more than 10%. But I'm almost retirement age, so there is no way I'll ever finish paying my student loan debt.
Timez Squarez
(262 posts)Just air that very fact that the Democrats are working very hard to reduce the stress of the loans, and the Republicans wants you to pay through the nose and beyond.
Fuck that. Make it free education for all Americans through doctorate degrees if they chose to do so.
Paid for by the corporations who's fucking greedy and just lost a huge battle against United States of America.
yurbud
(39,405 posts)It's hard to believe they are fighting for us when they won't take a weapon out of Republicans hands when they easily could
yeoman6987
(14,449 posts)then it would have been great, but to do it now and then have the Republicans take over next year would be horrible......Reid is too late. It is bad enough that the Republicans could have control of the lower courts next year by either refusing to vote or majority no on each judge they don't like. Democrats better keep the Senate.......I sure hope so.
yurbud
(39,405 posts)24601
(3,959 posts)It still takes a 2/3 supermajority in both houses to override a veto. Different of course if the White House changes hands. But once you've established that you can change the rules by majority vote, they could do it by themselves. So what the hell, call everyone's bluff and let them propose amendments - then vote.
quakerboy
(13,918 posts)will hesitate for a second to nuke the fillibuster if they feel its to their advantage? Just because Reid didnt do it, that doesnt mean they wont if they ever have the chance.
mike_c
(36,281 posts)I won't live long enough to pay it off anyway, so I guess it's a moot point.
madokie
(51,076 posts)In Elizabeth Warren. The little Oklahoma girl who went on to make a name for herself by helping millions of us little people out here in the real world.
SoapBox
(18,791 posts)...take ALL their money and leave them penniless .
YOHABLO
(7,358 posts)davidpdx
(22,000 posts)so he could bring the bill up again. Still it is unlikely that it will pass.
davidpdx
(22,000 posts)Fuck the middle class should be their motto.
lark
(23,083 posts)1Greensix
(111 posts)RICH people pay cash, with endowments, to get Jr. a degree. GWBushit is a perfect example. HGWBushit had to pay off two universities to get His son degrees. Only poor and middle class students take out student loans, and besides, banks love 7% loans. Republicans have one agenda and that's to make the rich richer. SCREW the rest.
It probably won't matter much longer, anyway. This country is ready to tear itself apart because of the hatred spewed on talk radio and Fox network. So, No country, no way to force payment of loans.
CBHagman
(16,984 posts)The yea votes included Republicans Lisa Murkowski (Alaska), Susan Collins (Maine), and Bob Corker (Tennessee). They joined the Democrats and independents Bernie Sanders (Vermont) and Angus King (Maine).
rpannier
(24,329 posts)That's about as bipartisan as you're gonna get with this group of repribaticans
Bohemianwriter
(978 posts)Don't they go "nuclear" on this one?
Why should 38 jackasses be obstructing the democratic process?