Political Quotes

“All across America over the last 2 or 3 weeks has been an exciting time for a lot of young Americans and families as graduating seniors in 4-year programs and 2-year programs are receiving their degrees and beginning, obviously, a new, exciting stage in their life. Unfortunately, there is still, though, a cloud over a lot of those folks in terms of what they face in the near future and the long-term future and many others who graduated in recent years, which is the high cost of student loan debt. The Federal Reserve has calculated that over $1 trillion of overhang exists in the U.S. economy because of student loan debt: an amount greater than credit card debt, an amount greater than auto debt, and at rates that far exceed any of those forms of consumer debt, including mortgages for homes. The Federal Government, in the meantime, is out selling bonds as a borrower to people who buy Treasury bonds, 10-year notes. This morning's rate, which I checked before coming down here, the rate that the Federal Government is going to pay as borrower, is 2.3 percent. Well, as many, I think, listening here, Mr.…”