Political Quotes

“Thank you, Representative Jeffries. This chart and this number should alarm every American family. As you just indicated, in this body there are those on the other side of the aisle who talk about not burdening the next generation with a debt that they cannot afford to pay. It is for us, as leaders, to do our job now so that they don't have to bear that burden in the next generation. This is why this issue is so fundamental and why we must get this policy right, so that we don't burden the next generation of students. We have increasing numbers who are low-income and who now have that opportunity for the first time ever to go to college. We have increasing numbers who are minority students, first-generation students who need to pursue their educations without the burden of a $1 trillion debt from taking out student loans. The Huffington Post reported recently that the spread between what the government pays to borrow and what it charges students creates a profit this fiscal year of more than 36 cents off every dollar lent to borrowers. So the question is: Why are our colleagues on the other side proposing a measure to increase interest rates on students and families? That money does not go to the Department of Education, Mr. Speaker. That money goes to the Treasury, which goes to pay down the Federal debt.…”