Political Quotes

“You're exactly right. I've had my kids graduate from college. Fortunately, they didn't have to take out student loans. We gave them 4 years, and the fifth and sixth year they were on their own. But the student loans across this Nation, right at $1 trillion now, the doubling of the interest rate, which was in the Republican budget blueprint, will stifle the economy. As those kids graduate, they have to pay off that loan immediately, not just, as we propose, 15 percent of their disposable income, but even a higher percentage. That's money that they cannot use to buy a car. They've got to pay the bank. That's money that cannot be used to start a home or buy a refrigerator or any other economic activity. Unnecessary. Now, we can't allow that to happen. So what we need to do--and here it is, this is a ticking time bomb for the American economy. This is a ticking time bomb for the American economy. After today, there are just 66 days left before the student loan interest rate doubles to 6.8 percent. Is action being taken? Mr. Clarke, you have a bill in. The Democrats have proposed a bill that would keep the student interest rates where they are now, 3.4 percent, and pay for that by reducing the subsidy that every American taxpayer gives to the oil industry. Over $12 billion of our tax money--your tax money, the public tax money--now goes to subsidize the wealthiest, most successful, most profitable industry in the world, the oil and gas industry.…”