Kentucky’s senior senator, U.S. Senate Republican Leader Mitch McConnell, took to the floor in the Senate Wednesday, and talked about the tough job market college graduates are facing in the Obama economy, and the scheduled jump in student loan interest rates.
“One of the most heartbreaking yet underreported consequences of the Obama economy is the extent to which college graduates today are stepping out into a world where the possibilities no longer seem endless,” said McConnell. “Unlike generations past, today’s college graduates are more likely to end up either unemployed or back at home with mom and dad, saddled with student loan debt, than they are to end up with the job of their dreams.
McConnell criticized the president for going around the country telling students that unless Congress acts, their interest rates will go up in July. “What he won’t tell them is that he cared so little about the legislation that created this problem five years ago that he didn’t even show up for the vote,” McConnell said. “And that once he became President, he didn’t even bother to include a fix for it in his own budget.”
According to Senator McConnell, both sides are in agreement that the student loan interest rates need to be kept at 3.4%. “The only question is how to pay for it,” he suggested. “Democrats want to pay for it by raiding Social Security and Medicare, and by making it even harder for small businesses to hire. We happen to think that at a time when millions of Americans — and countless college students — can’t even find a decent job, it makes no sense whatsoever to punish the very businesses we’re counting on to hire them. It’s counterproductive, and it’s wrong,” he continued.
“And let’s be honest,” said McConnell. “The only reason Democrats have proposed this particular solution to the problem is to get Republicans to oppose it, to make us cast a vote they think will make us look bad to the voters they need to win the next election… let’s end the political games and solve this problem like adults.”
The senator concluded by suggesting that this could be an easy problem to fix. “The only real challenge in this debate is coaxing the President off of the campaign trail and up to the negotiating table, to get him to choose results over rallies,” he said.
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