McConnell Mauls Obama Over Student Loans

Thursday, 21 Jun 2012 04:01 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
On the same day that President Barack Obama delivered a speech pressuring Congress to prevent an increase in student loan rates, Senate Minority Leader Mitch McConnell took him to task Thursday for "deflection and distraction" on the issue.

Obama wants Congress to extend the current 3.4 percent interest rate on Stafford loans. That rate will double if Congress fails to act by June 30. Republicans and Democrats agree on the need to continue the rate, but disagree over how to pay for it, The Hill reports.

The House passed a Republican-sponsored bill that pays for the extension with money from a preventive care fund in the healthcare reform program. Democrats want to finance the extension by closing what they see as tax loopholes for S-type corporations. But Democrats, who control the Senate, haven’t passed any legislation.

"So you can understand our surprise upon learning this morning that the president plans to call on Congress to do something about student loan rates," McConnell said. "The Republican-led House of Representatives has already passed a bill that would solve this problem."

Republicans have even offered Democrats several counter-proposals to finance the extension. But Democrats have ignored them, McConnell said. "It is actually the Democratic-led Senate that has failed to act, and the president who has failed to contribute to a solution, and the reason is pretty obvious."

The president simply wants to divert attention from troubling issues like the economy, McConnell said. “This is just another sad example of his election-year strategy of deflection and distraction.”


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

GOP Fears Cost of Obama Plan to Cut Cattle Methane Emissions

Thursday, 17 Apr 2014 17:49 PM

The Obama administration has released a Climate Action Plan that includes a call to reduce methane gas emissions from da . . .

Strategist Wikler: Both Parties Should Back Switch to Popular Vote

Thursday, 17 Apr 2014 17:10 PM

Replacing the Electoral College by electing the U.S. president through the national popular vote is as democratic an ide . . .

Farenthold: Don't Pay Officials Who Are in Contempt of Congress

Thursday, 17 Apr 2014 17:00 PM

Rep. Blake Farenthold believes that any government employee drawing a taxpayer-funded salary who is uncooperative with C . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved