Obama signs student loan bill lowering interest rates

Discussion in 'Politics, Religion, Social Issues' started by jkcerda, Jun 8, 2014.

  1. macrumors regular

    jkcerda

    Joined:
    Jun 10, 2013
    #1
    http://www.nbcnews.com/business/con...loan-bill-lowering-interest-rates-f6C10887330
    it's about time. Glad BOTH sides came together for this one:)
     
  2. macrumors 65816

    Southern Dad

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    Georgia
    #2
    I notice the headline give Barack all the credit.
     
  3. macrumors 603

    Menel

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    ATL
    #3
    Is it invalid? Pretty sure thats one of the big roles of his office.
     
  4. macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #4
    Wow, something actually BIPARTISAN and you continue with the partisan bickering. It sounds like nothing your opposing party does will ever please the palate.

    BL.
     
  5. macrumors 65816

    iBlazed

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    #5
    By saying that he signed the bill into law? :confused:
     
  6. macrumors P6

    Peace

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    #6
    Perhaps if John Boehner had the power to sign bills into law it would be different but alas..The President signs all bills and treaties.

    That's his job.
     
  7. macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #7

    Oy. Who else can sign a bill into law?
     
  8. thread starter macrumors regular

    jkcerda

    Joined:
    Jun 10, 2013
    #8
    Who cares? Obama gave BOTH sides credit

    ----------

    Correct me if I'm wrong , but the bill would become law even if Obama did not sign it , Obama could Veto the law if he wanted. But it would become law after 10 or so days if he did not sign it
     
  9. macrumors G5

    yg17

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    St. Louis, MO
    #9
    So when the two sides don't compromise to pass legislation, it's all Obama's fault because he's a terrible leader. When the two sides do compromise to pass legislation, Obama doesn't deserve any of the credit. Got it.
     
  10. macrumors 65816

    Southern Dad

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    #10
  11. thread starter macrumors regular

    jkcerda

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    #11
    The republicans worked with Obama here, perhaps you should call them or withdraw your support from them for doing something as evil as compromising to help students :rolleyes:
     
  12. macrumors 65816

    Southern Dad

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    #12
    I haven't said it was a bad thing. My point is how it labeled in this forum. If Obama signs a bill you like, it's all him. But if he signs one that you don't like, it's the GOP House.
     
  13. thread starter macrumors regular

    jkcerda

    Joined:
    Jun 10, 2013
    #13
    Head over to a conservative forum & you will see the opposite. There "O makes another ruling". <<<< as if Obama did it all on his own http://www.archerytalk.com/vb/showthread.php?t=2262243
    EDIT. neither forum represents ALL of the U.S
     
  14. macrumors 65816

    citizenzen

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    #14
    That would be a very weak argument, because some astute member—such as yourself—would come along and point out that Obama signed the bill into law.
     
  15. macrumors 603

    Menel

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    #15

    Show a thread example where anyone credited the GOP with signing a bill. That would be silly. As pointed out, Boner doesn't have that power.
     
  16. macrumors 6502a

    JohnLT13

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    #16
    why is the fact Obama signed this bill to law overshadowing the fact struggling graduates will pay lower interest rates thus lifting some of the weight off their shoulders?
     
  17. macrumors 65816

    citizenzen

    Joined:
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    #17
    Obvious answer: we've become obsessively and foolishly focused on partisanship and the struggle for power.
     
  18. macrumors 65816

    Joined:
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    Location:
    Atlanta, GA
    #18
    When there's a bill signed into law that provides something for the average American or does something that super-rich business-folk don't like, it's "Nobama signed another law ruining our country." But when it's something that cuts taxes for the rich or lets people carry guns into a nursery, it's "Look at the law the GOP helped push forward".

    Face it...Obama could **** rainbows and end worldwide poverty and you'd find a way to be negative about it.

    I think it's great that student loans are getting an interest rate break. I never had any student loans, so I don't know the answer to this, but what is the typical interest rate currently (before any cuts)?
     
  19. macrumors 65816

    Southern Dad

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    #19
    One day they'll actually address the real problem with the cost of higher education...
     
  20. macrumors 68030

    Arran

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    Location:
    Atlanta, USA
    #20
    Because it usually is! :p

    ----------

    Well, some of us have.

    ----------

    That would be good. Any suggestions how?
     
  21. macrumors 6502a

    Joined:
    Apr 30, 2004
    #21
    Step in the wrong direction.

    Lowering student loan interests will saddle even more students with loans.

    The government needs to get out of the student loan business altogether.
    That's the only way to bring cost of higher education down.

    As long as there are (cheap) loans, tuition will keep rising at 7%-10% per year.

    -t
     
  22. macrumors 65816

    citizenzen

    Joined:
    Mar 22, 2010
    #22
    Feel free to address it now.

    What's your theory?
     
  23. macrumors 65816

    SLC Flyfishing

    Joined:
    Nov 19, 2007
    Location:
    Portland, OR
    #23
    Raise interest rates, or better yet set the loan cap lower.

    As long as students can borrow up to at least the cost of attendance (which is an arbitrary number the university gets to set) then higher education has no incentive to rein in costs.

    My tuition goes up 4-6% per year, and I get no added benefit for that. These past two years I have pretty much gotten zero benefit actually.
     
  24. macrumors 65816

    iBlazed

    Joined:
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    Location:
    Home of Gov. Chris Crispy
    #24
    Of course. Anything the government does is evil. Privatize everything. Maybe we should get rid of public state universities as well and privatize them? :rolleyes:
    How did you arrive to this conclusion?
     
  25. macrumors 6502a

    Joined:
    Apr 30, 2004
    #25
    It's basic supply and demand.

    Students today can't afford college, because it's too expensive.
    Government steps in, provides 90%+ of student loans - et voila - price is not an object anymore. Students suddenly don't care about the cost, they pay what's asked.

    If that "magic" well of money supply would dry up, colleges would cut back on lavish pay packages, unnecessary administration (which today makes up more than 50% of the staff), and all kinds of stupid $%&# like new gym halls, expensive arts centers, basketball coaches paid millions of dollars etc.

    Colleges right now raise prices at the same rate as financing (i.e. student loans) rise and are available. Cost will not come down until financing dries up.

    -t
     

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