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Bipartisanship, the supposed scarcity of which so distresses the high-minded, actually is disastrously prevalent.
Since 2001, it has produced No Child Left Behind, a counterproductive federal intrusion in primary and secondary education; the McCain-Feingold speech rationing law (the Bipartisan Campaign Reform Act); an unfunded prescription drug entitlement; troublemaking by Fannie Mae and Freddie Mac; government-directed capitalism from the Export-Import Bank; crony capitalism from energy subsidies; unseemly agriculture and transportation bills; continuous bailouts of an unreformed Postal Service; housing subsidies; subsidies for state and local governments; and many other bipartisan deeds, including most appropriations bills.
The low 6.8 percent rate — private loans for students cost about 12 percent — was itself the result of a federal subsidy. And students have no collateral that can be repossessed in case they default, which 23 percent of those receiving the loans in question do. The maximum loan for third- and fourth-year students is $5,500 a year. The payment difference between 3.4 percent and 6.8 percent is less than $10 a month, so the “problem” involves less than 30 cents a day.
The 3.4 percent rate applies to only one category of federal loans, but because the Obama administration has essentially socialized the student loan business, federal loans are 90 percent of student borrowing, and this “temporary” rate probably will eventually be made permanent for all federal student loans.
Originally posted by Benevolent Heretic
reply to post by xuenchen
It doesn't surprise me that your attitude is one of - My Way or the Highway - and that you have contempt for anything that looks like compromise. It probably looks "weak" or some such crap to you. But for any organization or institution to be successful and move forward (which clearly freaks you out), compromise is necessary.
It doesn't take a lot of strength to have everything go your way. What builds strength and character is learning how to get along with others. I learned it before starting kindergarten. Somewhere, someone failed in teaching that compromise is a GOOD THING. Of course, the GOP is too weak and scared to try anything other than the old ways... The same policies that brought us to where we are now...
It doesn't surprise me that your attitude is one of - My Way or the Highway - and that you have contempt for anything that looks like compromise.