Deborah Koff Ross: “Out of these $50 billion in cuts, and Mr. Chandler from Kentucky hit the nail on the head when he pointed out that they…”

“Out of these $50 billion in cuts, and Mr. Chandler from Kentucky hit the nail on the head when he pointed out that they are talking about cutting spending $50 billion, but they are really increasing spending. That is true because they are proposing $70 billion in tax cuts, $50 billion in cuts in spending which leaves $20 billion not paid for but which will have to be borrowed from foreign banks and foreign governments to fund this tax cut to those earning over $400,000 a year. Out of the $50 billion in cuts, nearly $8 billion of the $14.3 billion in student loan cuts fall directly on students and parents. I am beginning to really understand this because I have a daughter who is 17 and a son who is 13, both getting ready before too long to go off to college. Like every other parent in America, I spend a lot of time these days thinking I wish I had started saving sooner, and I wish I had saved enough to be able to provide for them the way I want to, and I will find a way to do it. We all do as parents, but at a time when parents are struggling to meet the needs of college tuition, the Republican leadership is proposing $14.3 billion in cuts to student loans. The CBO, not some Democrat or Republican organization, the Congressional Budget Office, has estimated that under the Republican bill there are nearly $8 billion in new charges to students and families that will raise the cost of student loans. The cost to the average student borrower will be increased by $5,800.”