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(The Hill)   Student loan interest rates set to double not to shore up Sallie Mae, but in order to fund 0bamacare   (thehill.com) divider line 229
    More: Fail, Sallie Mae, Mitch McConnell, obamacare, student loans, senate floor, Harris Private Bank, loans, Party leaders of the United States Senate  
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2026 clicks; posted to Politics » on 01 Jul 2013 at 3:00 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-07-01 02:42:58 PM
Said Mitch McConnell.

Mmmmkay
 
2013-07-01 02:43:56 PM
McConnell: "We're not too far apart on this student loan issue. There is no reason for the president to hold campaign-style events. ... The plan we put forward is pretty similar to his own."

You know, I'd pretty much agree with McConnell on this sentiment if he hadn't just said "Rates are going up, and the tuition is going up so [students] have to pay back more at a higher rate ... all because of something young people had nothing to do with - and that's the passage of ObamaCare."

No, senator, the rate aren't going up because of Obamacare, and if you want to know why he isn't calling you to work out your differences, it's becuase you say blatantly false garbage like that.

The differences are that Republicans want to raise rates slowly on students, while Democrats want the rates to stay low and have more taxes elsewhere to pay for it.
 
2013-07-01 02:45:19 PM
No that is not what the article says at all.

It says the student load rate is collateral damage.
 
2013-07-01 02:47:19 PM
McConnell: The President's politicizing this (what's really a giant OBAMAcare debacle that is clearly his fault and has nothing to do with Congress even though we're the ones who passed the law, but I'm just saying, he's the one politicizing it) issue because he didn't personally call me to ask if we could come to terms and, instead, asked all of us at once if we could please get our shiat together.

Or: waaaaahhhh
 
2013-07-01 02:48:02 PM
I'm sure it's going to work out perfectly fine to make student loans non-dischargeable in bankruptcy (asbent nearly impossible qualifications).  That doesn't have any potential to completely cripple the economy in another decade.
 
2013-07-01 02:51:32 PM
Republicans are going to blame everything people don't like on Obamacare, including bad weather.
 
2013-07-01 02:57:09 PM
ZeroBongfartoDroneCare
 
2013-07-01 02:59:32 PM
1. I couldn't afford health insurance before Obamacare.

2. I can't afford health insurance after Obamacare, but soon I will have to buy it anyhow.
 
2013-07-01 03:03:07 PM

timujin: Or: waaaaahhhh


You could pretty much post this about everything the Republicans have done since 2009.
 
2013-07-01 03:03:33 PM
Bull farking shiat, turtle-boy.
 
2013-07-01 03:03:40 PM

impaler: Republicans are going to blame everything people don't like on Obamacare, including bad weather.


So you're blaming Republicans for Obamacare?
 
2013-07-01 03:03:50 PM

This About That: 1. I couldn't afford health insurance before Obamacare.

2. I can't afford health insurance after Obamacare, but soon I will have to buy it anyhow.


if you can't afford it, won't they help you pay for it? isn't that the whole point?
 
2013-07-01 03:05:32 PM
If only you could have repealed it once in 37 tries then rainbow-farting unicorns for all.
 
2013-07-01 03:06:17 PM

This About That: 1. I couldn't afford health insurance before Obamacare.

2. I can't afford health insurance after Obamacare, but soon I will have to buy it anyhow.


Sure you can't.

I bet you have a refrigerator, though.
 
2013-07-01 03:08:38 PM
Obamacare stole my bike.
 
2013-07-01 03:10:14 PM
27 year old Republican college students with hypothyroidism and no insurance are 2013s "Keep Your Government Hands Off My Medicare" Award recipients.
 
2013-07-01 03:11:00 PM

FlashHarry: This About That: 1. I couldn't afford health insurance before Obamacare.

2. I can't afford health insurance after Obamacare, but soon I will have to buy it anyhow.

if you can't afford it, won't they help you pay for it? isn't that the whole point?


He can afford it.  He just doesn't want to spend money on it.
 
2013-07-01 03:11:10 PM

This About That: 2. I can't afford health insurance after Obamacare, but soon I will have to buy it anyhow.


You  need to spend less time posting on messageboards, and more time reading about Obamacare.
 
2013-07-01 03:11:41 PM
As part of the healthcare law, Congress stopped allowing private banks to provide student loans. All student loans are now federal loans, which McConnell argues has led to higher rates.

Is that statement made in the article even true?
I thought that was done in a piece of legislation rammed through AFTER Obamacare? Is there a provision in ACA itself that made that change? And if so WTF?
 
2013-07-01 03:12:36 PM
I went through the "self checkout" aisle at the store and the machine kept telling me "Incorrect weight for item. Please place your item in the bag. Incorrect weight for item. Please place your item in the bag. Incorrect weight for item. Please place your item in the bag."

Thanks, Obama.
 
2013-07-01 03:12:37 PM
I poured spoiled milk into a perfectly good bowl of cereal this morning.  Because of 0bamacare.
 
2013-07-01 03:12:47 PM
0bamacare raped my mother and then wiped its feces and blood-stained dick all over my NES cartridges.
 
2013-07-01 03:12:53 PM
A smarter state would have thrown this high-dollar whore on his wrinkled ass decades ago. Fortunately for him, and unfortunately for the rest of America, Mitch McConnell is in Kentucky.
 
2013-07-01 03:12:56 PM

Wook: impaler: Republicans are going to blame everything people don't like on Obamacare, including bad weather.

So you're blaming Republicans for Obamacare?


No, I blame Republicans for crying about the Affordable Care Act, which was passed by the House and the Senate before it was presented to the President to do the horribly difficult part - sign it.

Climb down off the cross, please. You're ruining my oceanfront view.
 
2013-07-01 03:13:02 PM

BojanglesPaladin: And if so WTF?


Things make much more sense when you remember that Mitch McConnell is a bald faced liar.
 
2013-07-01 03:13:32 PM
All student loans are federally backed now?

That would seem to imply that the rates for those loans are set by the federal government.  If only the Turtle was some in some kind of position to create a new law, lacking any kind of poison pills or stupidity, which would keep the rates stable, or even lower them.
 
2013-07-01 03:13:44 PM
Obamacare forgot to put the seat back down after taking a piss.
 
2013-07-01 03:15:07 PM
I heard 0bamacare doesn't use the turn signal when merging into highway traffic, and it's quite possible it doesn't always turn on its headlights during a rainstorm too.  -Herman Cain
 
2013-07-01 03:15:37 PM
For those curious about what student loans actually have to do with Obamacare, from Wikipedia:

"Under the Fiscal Year 2010 the text of the reconciliation bill submitted to the Budget Committee had to have been reported by the relevant Committees by October 15, 2009.  Therefore, the Democrats  combined the text of America's Affordable Health Choices Act of 2009 as reported out of the Ways and Means Committee, and as it was reported out of the Education and Labor Committee, and the text of the Student Aid and Fiscal Responsibility Act as reported out of the Education and Labor Committee.  This version was never meant to be passed, it was only created so that the reconciliation bill would comply with the Budget resolution.  The bill was automatically amended to the version that was meant to be passed per the special rule that was reported out of the Rules Committee.  The Student Aid and Fiscal Responsibility Act was added to the Reconciliation Act as only one reconciliation bill can be passed each budget year, and it also faced a tough road through the Senate due to Republican filibuster and opposition from several centrist Democratic Senators."

tl;dr version:  it was glommed into Obamacare for procedural reasons, and is not being used to fund health care.
 
2013-07-01 03:16:03 PM
This is why Democrats are for lowering the rates while Republicans are against it right? Because Obama and Democrats hate "Obamacare".
 
2013-07-01 03:16:25 PM
0bamacare made Craig T. Nelson cry on Fox News.
 
2013-07-01 03:17:02 PM

impaler: Republicans are going to blame have been blaming everything people don't like on Obamacare, including bad weather, before it was even passed, or they bothered to look at a single word of it..

 
2013-07-01 03:17:42 PM
0bamacare was responsible for everything George Lucas has done since 1983.
 
2013-07-01 03:17:46 PM
imageshack.us
 
2013-07-01 03:18:04 PM
There needs to be a rule that if you can't put the pills in your mouth you don't get them at the nursing home.

There's this basic problem that we're going to have three elderly to every person under 30 and there's a pile of unfunded obligations. While we can't go Logans Run we could stop giving anything more than palliative care to the old and dying. No heart meds or cholesterol drugs.

As far as the education goes...

Distorted rates in a distorted market with a distorted causal arrow. Prosperity leads to education. Education en masse leads to degree creep. Degree creep leads to too many graduates. Which has never been a problem in history so we are setting precedent.
 
2013-07-01 03:18:37 PM
0bamacare spooged into my corn cob tray that had melted butter in it, and then I smeared the prostate juice-dairy mix all over my corn and ate unknowingly.
 
2013-07-01 03:18:37 PM
Obamacare makes cereal soggy in milk
 
2013-07-01 03:19:41 PM

coeyagi: 0bamacare made Craig T. Nelson cry on Fox News.


And did anyone help him out? No!
 
2013-07-01 03:20:08 PM

This About That: 1. I couldn't afford health insurance before Obamacare.

2. I can't afford health insurance after Obamacare, but soon I will have to buy it anyhow.


And then you'll have health insurance and can't be dropped over the arcanum of InsurCo rules.

// assuming you're over 26 or you don't have parents able to list you as a dependent on their HI
// also, subsidies - look into them
// you may be in the (something like) 40% of people eligible for subsidies who don't realize it
 
2013-07-01 03:21:56 PM

BojanglesPaladin: As part of the healthcare law, Congress stopped allowing private banks to provide student loans. All student loans are now federal loans, which McConnell argues has led to higher rates.

Is that statement made in the article even true?
I thought that was done in a piece of legislation rammed through AFTER Obamacare? Is there a provision in ACA itself that made that change? And if so WTF?


The part about it being included is true. The part about rates is derp.

Prior to that, the government set rates, subsidized loans, guaranteed them, and let banks keep a bunch of the money for "servicing" the accounts. Now the government cut out the middleman.

Other than the schools, who are getting fat on loose money at the expense of everyone else.
 
2013-07-01 03:22:12 PM
How to tell subby is trolling: "0bamacare"

How to tell TFA indicates something even dumber: The Thoughts of Mitch the Turtle

Moving on.
 
2013-07-01 03:22:23 PM

Ambitwistor: tl;dr version: it was glommed into Obamacare for procedural reasons, and is not being used to fund health care.


Great. So he's technically correct. (The best kind of correct). It *IS* part of Obamacare. The "being used to FUND Obamacare is implied, but not stated.

Look at the careful phrasing:
"Rates are going up, and the tuition is going up so [students] have to pay back more at a higher rate ... all because of something young people had nothing to do with - and that's the passage of ObamaCare,"

McConnell said that part of the Affordable Care Act, also known as ObamaCare "abolished the student loan program."
 
2013-07-01 03:23:42 PM

This About That: 1. I couldn't afford health insurance before Obamacare.

2. I can't afford health insurance after Obamacare, but soon I will have to buy it anyhow.


1. I believe that, private healthcare insurance is a farked up mess.  I've never understood why it isn't just as easy as automobile insurance.
2. Why not? And no you won't.
 
2013-07-01 03:23:46 PM

Weatherkiss: 0bamacare was responsible for everything George Lucas has done since 1983.


Not including 1989.  0bamacare was taking a break from making George Lucas rape my childhood and was instead causing the Exxon Valdez oil spill.
 
2013-07-01 03:24:02 PM

Infernalist: Obamacare stole my bike.


25.media.tumblr.com
 
2013-07-01 03:24:06 PM
as long as its not the sequestration, 'cause then it would totes be our fault...
 
2013-07-01 03:24:30 PM
This is Obama's Wellington Pit Disaster of 1910.
 
2013-07-01 03:26:03 PM

Dog Welder: [imageshack.us image 500x386]


Ha! Just flipped through Saga at the bookstore last week.  Pretty awesome, and not even just because of tits.
 
2013-07-01 03:26:09 PM

Dog Welder:


We need an army of those following every politician and political pundit in the country.
 
2013-07-01 03:26:16 PM

BMFPitt: Prior to that, the government set rates, subsidized loans, guaranteed them, and let banks keep a bunch of the money for "servicing" the accounts. Now the government cut out the middleman.


My understanding is that non-government backed loans are effectively gone as well though, disadvantaging middle-class families who do not qualify for all of the federal loan programs because they earn "too much". And as tuitions have continued to climb, this is increasingly causing financial problems for families with above median incomes.
 
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