Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Will Voters Prove to Be Fools for the Gop?

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Will Voters Prove to Be Fools for the Gop?

Article excerpt

The current 3.4 percent interest rate on federally funded student loans will double to 6.8 percent this July unless Congress acts.

The Ryan budget passed by House Republicans on March 29 specifies that the 3.4 percent rate should expire in July. Presidential candidate Mitt Romney embraced the Ryan budget calling it "marvelous."

Last week President Barack Obama took to the highways and airways to alert students that their interest rates would soon double. With the light of day shining on their Dickensian plans, candidate Romney and the Republicans declared their support for maintaining the 3.4 percent rate. The Republicans want to fund the $6 billion cost of the extension by robbing the funds set side for preventive health care and screenings in the Affordable Health Care Act. The Democrats would fund the extension by limiting tax loopholes -- like the one where certain owners of S corporations are not currently required to pay Medicare taxes. I thought all wage earners paid Medicare taxes. …

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