I had noticed Russert on Meet the Press this weekend grill the new House majority leader John Boehner (and what a grilling, check out the transcript here: http://www.msnbc.msn.com/id/8987534/) During the interview Russert brought up the topic of cuts to the Federal Student loan program, and of course Boehner denied that it would bring about a significant change. Well this came out from the Chicago Sun-Times today: http://www.suntimes.com/output/savage/cst-fin-terry065.html.
Turns out the so called Deficit Reduction bill, intended to reduce the deficit $40 Billion over five years, will cut the Student Loan program by 30%, or 12.7 billion. The loan program by the way represents one half of 1% of the entire federal budget.
Not only that, but also sunk into the bill is a piece that will make it illegal for anyone currently in school to consolidate their loan, thus locking their interest rate.
So Bush comes out in his STOU, talking about enticing students to excel in new industries so that we may remain competitive in the world, and then they cut student loans. Good thing I didn't need a college degree to spell h-y-p-o-c-r-i-t-e.
I'll be following up on this story, since no one's going to mention it, and if they do, the bloody bill will do an Alito as it gets lost in the wiretapping hearings and then passed at midnight. The 9/11 commission was correct; America does have a serious intelligence problem.
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