Tags: mnconnell | obama | student | loans

McConnell Mauls Obama Over Student Loans

Thursday, 21 Jun 2012 04:01 PM

By Newsmax Wires

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.”


© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Arizona's Sheriff Joe Picks Patriots; Inmates to Get Popcorn

Saturday, 31 Jan 2015 23:21 PM

The Arizona lawman who bills himself as America's toughest sheriff predicts the New England Patriots will win the Supe . . .

Los Angeles, America's Homeless Capital, Counts Its Down-and-Outs

Saturday, 31 Jan 2015 21:46 PM

Notebook in hand, Ana Alvarez walked along the streets of Skid Row, the downtown Los Angeles district that's sometimes c . . .

Police Probing Alleged Corruption in Nevada Legislature

Saturday, 31 Jan 2015 19:59 PM

Las Vegas police have confirmed they are investigating allegations of corruption in the Nevada Legislature involving an  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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