Obama Prevents Student Loan Rate Reduction

Obama Prevents Student Loan Rate Reduction

Remember when President Obama was touring around the country, “not” campaigning on the issue of student loan rate maintenance? As it turns out, he’s been stalling any true attempt to keep student loan rates stable.

This morning, Senate Minority Leader Mitch McConnell (R-KY) took to the floor to denounce Obama’s politicking on the issue:

I have in my hand a letter that’s been signed by the top two Republicans in the House, and the top two Republicans in the Senate. It lists no fewer than four good-faith bipartisan proposals to resolve this issue, drawing on ideas the President’s already shown a willingness to support. We sent this letter to the President five days ago.

Yet now we learn that the Vice President plans to have a group of college presidents over to the White House today to ‘reassert the call for Congress to stop the student loan interest rate from doubling.’

Well, let me make a suggestion. Why doesn’t the Vice President just pick up the phone, choose one of the proposals we laid out in our letter, and then announce at this meeting that the problem’s been solved.

The answer is obvious: Obama doesn’t want the problem solved. He wants a political football with which he can play. The White House website features a call for Congressional action. As an unpopular incumbent, Obama’s only option is to run against Congress – and that means that he has to prevent Congress from doing anything, so he can complain that they don’t do anything.