A lot has been said about the lack of compromise in Congress...and especially about the obstructionist politics that the GOP has been playing for years. All of this criticism directed at Congress and at the far right specifically is justified. Boehner is a terrible speaker who has been unable to gain consensus even within his own caucaus.
That being said..it's only fair to point out when the left also engages in these antics. In this case it is our MA senators, Warren and Markey who are engaging in obsructionist politics.
Currently both MA Senators are opposing a bipartisan bill which would bring student loan rates more in line with the norm. As most of you know, student loan rates doubled on July 1st after Congress failed to take action to extend the 3.4% rate. The bill currently on the table would bring rates ( now at 6.8%) down to about 3.9%. Warren and Markey argue that this bill doesn't bring rates down low enough and would like to see the rates at .75%..the same rate the Federal government charges to banks when they lend them money. Huh..???? I might be sympathetic to the Warren/Markey position if they were fighting to bring rates down to the original 3.4%...but .75%??? Even I understand that there are costs associated with lending money and servicing a loan. Lowering rates to .75% is irresponsible and would jeapordize the entire program.
Warren and Markey should sign off on this bill. To do otherwise is playing politics with the tens of thousands of MA residents affected by this student loan rate issue. If Warren wants to have a conversation about lending rates to big bank..then by all means have it. However, stop holding this bill hostage and have a separate conversation.
Or..alternately...how about having a conversation about the underlying reasons for high student debt and the necessity to keep rates low? You know..the conversation that involves creating jobs..and our all time low average wages?