GOP Pushes New Cuts

[Modbert]

Debt Crisis Deepens as Eric Cantor, GOP Propose New Cuts - The Daily Beast

As Monday’s White House budget talks got down to the nitty-gritty, Eric Cantor proposed a series of spending cuts, one of them aimed squarely at college students.

The House majority leader, who did most of the talking for the Republican side, said those taking out student loans should start paying interest right away, rather than being able to defer payments until after graduation. It is a big-ticket item that would save $40 billion over 10 years.

At one point, sources say, President Obama pushed back against the mounting menu of spending cuts while the tax column on the negotiating sheets remained blank. He asked the Republican leaders how they expected him to take their proposals seriously.

“I’m not going to do that,” Obama said. “I’m not going to take money from old people and screw students,”

Republicans are resisting not just tax increases but significant cuts in defense spending, the sources say.

Obama returned to this theme in the talks, saying everyone is being asked to sacrifice except rich people. The Republicans repeated their belief that any tax increase would damage the fragile economy.

In his quest to save the rich from making sacrifices whatsoever, Cantor is now scraping the bottom of the barrel.

The problem with Cantor's idea to have Students pay the interest right away instead of deferring to graduation is the fact that students won't be able to pay for it.

A.) There's no jobs for said students currently.

B.) If students had the money to pay off the interest on these loans, they wouldn't be borrowing money from the government in the first place.

C.) It's not as if the students are getting free money. They eventually have to pay back said interest and loan payments. And guess what? Unlike the majority other forms of debt, they can't discharge it by declaring for bankruptcy. I wonder if Cantor realizes what this will do to the economy, I doubt he even cares.

D.) This is only going to save $4 billion a year. They already cut the grants that Students receive. Meanwhile, Cantor won't even touch the defense budget among other things including closing tax loopholes.

I don't see how anyone can take Cantor seriously, he has shown that he doesn't actually care about cutting our deficit.

Edit:

Also, for all the "deficit hawks":

E.) It's a gimmicky accounting trick.

 

[Chris]

Cantor is pure evil. He is pushing the Republican agenda of handouts for the oil companies, the coal companies, Wall Street, and the wealthy, and the destruction of Social Security and Medicare.

There is a special place in hell waiting for Mr. Cantor.

 

[Wacky Quacky]

Yeah, this is bullshit. There are still other areas that can be cut that would save a hell of a lot more than a pitiful 40 billion over 10 years.

 

[Trajan]

I agree, the demand for ongoing interest payments immediately upon receipt is ridiculous.

 

[Sallow]

Cantor is pure evil. He is pushing the Republican agenda of handouts for the oil companies, the coal companies, Wall Street, and the wealthy, and the destruction of Social Security and Medicare.

There is a special place in hell waiting for Mr. Cantor.

He looks like a James Bond villian..

Or um..this guy.

[ame=http://www.youtube.com/watch?v=JhTDnKNR6d0&feature=related]YouTube - ‪Creepy thin man‬‏[/ame]

 

[Truthmatters]

The republicans dont want a deal.

They want a constitutional crisis

 

[Sallow]

Debt Crisis Deepens as Eric Cantor, GOP Propose New Cuts - The Daily Beast

As Monday’s White House budget talks got down to the nitty-gritty, Eric Cantor proposed a series of spending cuts, one of them aimed squarely at college students.

The House majority leader, who did most of the talking for the Republican side, said those taking out student loans should start paying interest right away, rather than being able to defer payments until after graduation. It is a big-ticket item that would save $40 billion over 10 years.

At one point, sources say, President Obama pushed back against the mounting menu of spending cuts while the tax column on the negotiating sheets remained blank. He asked the Republican leaders how they expected him to take their proposals seriously.

“I’m not going to do that,” Obama said. “I’m not going to take money from old people and screw students,”

Republicans are resisting not just tax increases but significant cuts in defense spending, the sources say.

Obama returned to this theme in the talks, saying everyone is being asked to sacrifice except rich people. The Republicans repeated their belief that any tax increase would damage the fragile economy.

In his quest to save the rich from making sacrifices whatsoever, Cantor is now scraping the bottom of the barrel.

The problem with Cantor's idea to have Students pay the interest right away instead of deferring to graduation is the fact that students won't be able to pay for it.

A.) There's no jobs for said students currently.

B.) If students had the money to pay off the interest on these loans, they wouldn't be borrowing money from the government in the first place.

C.) It's not as if the students are getting free money. They eventually have to pay back said interest and loan payments. And guess what? Unlike the majority other forms of debt, they can't discharge it by declaring for bankruptcy. I wonder if Cantor realizes what this will do to the economy, I doubt he even cares.

D.) This is only going to save $4 billion a year. They already cut the grants that Students receive. Meanwhile, Cantor won't even touch the defense budget among other things including closing tax loopholes.

I don't see how anyone can take Cantor seriously, he has shown that he doesn't actually care about cutting our deficit.

No.

He doesn't.

He wants to keep the Bush tax cuts.

Simple as that.

 

[Article 15]

Don't worry, Obama will agree to this too.

 

[Article 15]

He looks like a James Bond villian..

A face only a mother wouldn't want to deck.

 

[Modbert]

Don't worry, Obama will agree to this too.

I'm sure he will, in exchange for nothing too probably.

 

[Claudette]

What happened to all that talk of "shared sacrifice."

Seems only some folks are supposed to sacrifice.

Mainly anyone who makes over $250,000 a year.

 

[Wry Catcher]

Cantor doesn't even put party first, as do most Republicans. Cantor puts Cantor first; what benefits him is the end, any means is therefore justified.

 

[Article 15]

What happened to all that talk of "shared sacrifice."

Seems only some folks are supposed to sacrifice.

Mainly anyone who makes over $250,000 a year.

When Cantor brings something resembling a shared sacrifice to the table you let me know.

 

[ShackledNation]

This is my problem with Cantor. All his cuts sound decent, but are stretched over such long periods of time they ultimately amount to nothing. 40 billion over 10 years! That is NOTHING. We need serious cuts, not this.

As a college student myself received those loans, my family and I specifically planned our financed around a certain amount of those loans. You can't just change that instantly. You have to remember the short term and the long term. If he wanted to stop issuing those loans, I would support it, so long as people are given enough time to plan accordingly.

I agree that government subsidizes the education bubble far too much. But we have much more serious problems to deal with (social security!) before this.

 

[kiwiman127]

Who are those who take student loans? The middle class and working poor.
This is just another attack on the working class by the tools of the top percentile.
I guess only rich kids are supposed to go to college, while kids from the lower classes are designated to be just worker drones.

 

[kiwiman127]

What happened to all that talk of "shared sacrifice."

Seems only some folks are supposed to sacrifice.

Mainly anyone who makes over $250,000 a year.

The words shared sacrifice aren't in the vocabulary of the tools of the top percentile.

 

[Kuros]

What happened to all that talk of "shared sacrifice."

Seems only some folks are supposed to sacrifice.

Mainly anyone who makes over $250,000 a year.

I actually agree with this. Raise taxes again commensurate with the Bush tax cuts, even on the middle-class.

But I don't think that's what you meant.

 

[Modbert]

What happened to all that talk of "shared sacrifice."

Seems only some folks are supposed to sacrifice.

Mainly anyone who makes over $250,000 a year.

Except Cantor wants everyone but the rich and corporations to sacrifice. College students have already taken part in the "shared sacrifice."

 

[DiamondDave]

What happened to all that talk of "shared sacrifice."

Seems only some folks are supposed to sacrifice.

Mainly anyone who makes over $250,000 a year.

Bingo... ones like the OP are so fucking misguided as to thing those who are indeed paying a higher % and the highest total burden are not sacrificing, when close to 50% pay nothing and zero % in terms of income tax...

It is more laughable the more we see this bullshit being spewed

 

[Claudette]

What happened to all that talk of "shared sacrifice."

Seems only some folks are supposed to sacrifice.

Mainly anyone who makes over $250,000 a year.

When Cantor brings something resembling a shared sacrifice to the table you let me know.

Sure. Just as soon as the Dems and Obama do the same.