Political Quotes

“we are running out of time. The interest rate on subsidized student loans is set to double in just over 2 weeks. This will hit middle-class families hard at a time when they are dealing with the devastating effects of the most severe recession that we have witnessed in our lifetime. Earlier this week the Federal Reserve reported additional sobering news. Between 2007 and 2010, median family wealth declined by nearly 40 percent. Median family income declined by nearly 8 percent, and the share of families with education-related debt rose from 15.2 percent to 19.2 percent. This is no time to increase the interest rate on need-based student loans on the more than 7,000 moderate and low-income students who rely on them to go to college. What we have seen is a middle-class that in terms of wealth and income has been shrinking dramatically. Ironically--perhaps not ironically--the very wealthy have seen income and wealth increase. However, for the vast majority of Americans, they have seen their economic position deteriorate. Closely allied with economic opportunity and the idea of making your way in this country is the necessity to go on to higher education. We have been preaching that. That is what our parents told us, go on to college. They said, when you go to college, you will be prepared to go into the workforce, increase your family income, contribute more to your country.…”