Republicans plan on holding the Debt Ceiling Hostage again, the Ryan Budget is their demand.

                 Even though in March Speaker of the House John Boehner acknowledged that there is not an immediate debt problem, Republicans plan on holding the Debt Ceiling hostage again. They demand that the Ryan Budget be put in place or they will vote against the Debt Ceiling. This is unprecedented in American history.

Until 2011 no political party had the votes or the intent to stop the President from raising the Debt Ceiling. Which will cause a lowering of our borrowing ability and cause problems economically worldwide. Despite the National Debt being lowered and our slow but steady climb out of an economic abyss, the Republicans seem more than willing to sendvus back there. This is a House that refuses to vote on the Senate Immigration Bill and Student Loan Rates. The do nothing Congress led by Republicans seems to want to hurt America.

The Paul Ryan Budget, a cruel joke against middle class and poor Americans. He cuts Food Stamps and other parts of the SNAP program by $125 billion, while giving larger tax breaks to the wealthy and big corporations. It is a joke of a Budget Proposal that promotes Austerity, but only in the programs that help poor Americans. Austerity doesn’t work. Paul Ryan’s budget repeals the ACA yet uses the savings to balance the budget. That is unlikely to work.

President Obama and Democrats caved last time on the Debt Ceiling to save America’s credit rating. They better not cave this time or Americans will suffer worse than before. Republicans are again holding the American public hostage in order to forward some backwards agenda that benefits 3% of the population. To forward a corporate agenda, because a lobbyist paid them to do so. The Republican party’s disdain for President Obama is destroying any credibility they ever had. Now to retake the House and push them further down. 2014 is the year of the Progressive. For that we need to thank Republicans for their actions.

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Republicans outright refusal to work with Elizabeth Warren and Democrats to stop Student Loan rates from doubling.

               College students taking out new loans in the fall are going to see interest rates double what they were yesterday. Republicans outright refusal to work with Democrats is disconcerting. Elizabeth Warren proposed the Bank on Students Loan Fairness Act. Republicans say the low rates given to banks are different than Student Loans.

Subsidized Stafford Loans went from 3.4% to 6.8%. Government profits from Student Loans range anywhere from $5.5 billion to $36 billion or $.42 cents per dollar loaned, to a little over $.05 cents per every dollar loaned. Either way this was before the increase. Different papers are downplaying the significance, but these loans are typically paid over a long period and put our college students in a hole for quite a few years. Banks pay much lower rates, even after decimating our economy, refusing to give loans and the dirty mortgage practices that come out almost daily, yet Republican lawmakers defend the banks vociferously.

During last years Presidential race both parties vowed to take action on this issue. President Obama wants to offer it at the 10 year treasury rate plus .93% and students can cap their payment at 10% of income. House Republicans want to give a superlow rate and then it would adjust at a later date up to 8.5%, effectively 2 and 1/2 times more than now. Senate Republicans are at about 6.5% and Senate Democrats are offering the governments short term lending rate plus an additional percentage suggested by the Department of Education. Elizabeth Warren’s plan would lend at .75% short term loan rate that banks pay the Federal Reserve. It is only a year long fix.

The real issue here is that Republicans are willing to run students over the coals, while refusing to raise taxes on the wealth and refusing to take measures against banks predatory practices. The hypocrisy of the Republican party comes to the forefront again. Elizabeth Warren was trying to get this done several months ago, apparently Congress can only work on one issue at a time. I guess one issue at a time makes it harder to get a bill to help the people through. Republicans, the party of the wealthy for the wealthy.