Senate Republicans on Tuesday blocked a bill that would have frozen student loan interest rates before they are set to double on July 1.
Read more on the Huffington Post here.
Republicans claim that while they are also keen on keeping the student loan interest rates low, the disagree with the Democrats on how to pay for it, opposing the Democrats’ proposal of raising Social and Medical payroll taxes on certain high income earners while suggesting to cut a preventive health fund.
This speaks to a larger issue relating to the upcoming general election. I can’t help but guess that the Republicans, knowing that the younger voting demographic have never been big supporters of their party, is trying to put the student loan issue to the wayside, minimizing its power to galvanize young voters to vote for President Obama.
Republicans are seen as being in an uphill battle as polls have shown that Mitt Romney has a clear edge on Obama in only one demographic, the old-wealthy-white-men, and is either behind or in a statistical tie with the President in all other groups. They are trying to downplay the student loan issue by blaming Democrats, as usual, even though it blows my mind when Republicans say that raising taxes on the wealthy ‘job-creators’ will cause them to create less jobs (if they were creating any in the first place).