The recent debt deal proposed by congressional leaders is a hard pill to swallow for all parties. Republicans believe that the cuts in spending are not nearly enough and are but a drop in the bucket. Meanwhile Democrats are irate about the fact that there are no revenues what so ever in the deal; one of the major sticking points of the party as well as the White House. Economists across the board are warning that this deal may have disastrous effects on our recovery. Across the board there is great hesitation about passing this compromise. However, facing the prospect of default is causing them to act and accept this problematic proposal.
One of the major issues with his deal is the $22.1 billion dollars of cuts in Student Loans. If there is one key element to propel the United States out of this economic recession it is innovation. We have lost countless jobs due to outsourcing of our manufacturing sector as well as the destruction of our financial sector. It is only through innovation that we can create new jobs and reinvigorate a manufacturing industry. It is only through education and critical thinking that we can learn from the mistakes of the past and improve upon them to fix our financial sector and to protect us from such a devastating blow in the future. Education is the "great equalizer". Education is always the key to a successful nation. Other countries across the world have noted how successful our system has been, especially in college. That is a major reason we have so many individuals that come to the United States for our universities. By cutting this money we are condemning our citizens to the current class they are part of.
Right now the average family household is in heavy debt. They can not pay their bills due to the massive amount of capital that was lost during the stock market crash as well as the policies propagated for the last 30 years and specifically on borrowing for the average family. College tuition has been on the rise exponentially leaving more and more families unable to send their kids to college. There are not nearly enough private scholarships to cover all of the deserving individuals out there who want to go to college but do not have the available funds. Recently in legislation student loans were banned from being offered by the banks due to their predatory lending practices. It is very hard to find a recent college graduate who does not have a story about being screwed over by the banks with their student loans. The government is the only way you can get these loans. The GOP has now cut the only source of funding one can receive to go to college in the form of a loan.
The really repulsive portion of this is that most people who need these loans the most are the poor or lower middle class. The upper middle class and the wealthy do not need these loans. They have enough saved away to send their kids to whatever college they desire, if not throw a little money at the institution to help their child get in. It is those who are the lowest on the totem pole that use this service. It is those who need it the most. The GOP is essentially thumbing their nose at this class while bending over backwards to protect those who helped cause this mess and are sitting on their laurels basking in the largest profits in decades watching the ants below struggle to eek out an existence. Big Oil, Wall Street, multi-national corporations, none of them were touched by this debt deal what so ever. They were spared because their position in the economy is too precious to touch. Meanwhile it is more than alright to kick the lower class while it's down, cutting off unemployment, cutting student loans. Plain and simple, this is class warfare.
"Your child's future was the first to go with budget cuts." Lupe Fiasco...
Meanwhile big oil is pulling in billions upon billions of dollars per quarter. If anyone needs proof that the GOP's priorities lay with the rich and that they hate the poor this is your proof. This is the shining example that the GOP doesn't give a damn about the average American. They don't care about the middle class. They care about the system that is in place and the people and interests that keep on funding their coffers so that they can get reelected. The devil is in the details, and the fine print is pretty putrid. It is time for the people to stand up to the party politics that has put us in this particular position. It is time for the people to put their priorities above that of the powerful. It is time for the people to stand up for their education, for the great equalizer, to shift the scales back in favor of the public, not the special interests.