So during those years, we had fiscal responsibility. We could not spend money unless we paid for it; we could not cut taxes unless we cut spending; and maintaining that fiscal responsibility kept that line going up. And, at the top of that line, we stopped pay-go and we passed tax cuts without spending cuts, and we passed spending increases without paying for them; is that right?
Discussing fiscal responsibility and budgetary practices.
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It’s difficult to articulate how impractical these proposals are, to say nothing of the pain and suffering they’ll inflict on students, educators and their communities, if they were to become law.
The repeal represents the federal government walking away from that responsibility, which jeopardizes the hard-fought progress we have made.
The sweeping changes to the federal student loan system originating from that law are compounding the issues that have risen from the dismantling of the Education Department.
Treasury has no expertise serving students or institutions of higher education or monitoring servicers for accuracy.
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