OUR LOVELY SENATORS IN DC voted 81-18 to approve interest rates for loans to American students who want to further their education—and perhaps, just maybe compete for a decent job in the ever-expanding ‘global economy. “Senate OKs student-loan interest-rate formula / Rates to drop on coming school year but may go up later.” The new rates are 3.9% for undergraduates, 5.4% for graduate students, and 6.4% for those receiving plus loans.
“In a compromise that pleased many Democrats who had initially been wary of using a rate that fluctuated with the markets, Congress set a cap on all loans [of] 8.25% for undergraduates, 9.5% for graduate students, and 10.5% for PLUS recipients.”
Go back and read those numbers again: Congress approved rate caps that are 800% to more than 1,000% higher than the interest rates they charged corrupt banksters for their bail-out loans just a few years ago. And you want to know why? Because that’s what makes America great … for corrupt banksters and their ilk. As Frank Zappa so famously said way back in 1966: “It can’t happen here! It can’t happen here! I’m telling you, my dear, that it can’t happen here …”
HEADER IMAGE: The original image at the top of this page was this cartoon by Kirk Walters for The Toledo Blade. When I switched to the Readit Pro theme, I simply couldn’t use this cartoon any longer. The headline and data from The Seattle Times (July 25, 2013, page A4). SEO: it cant happen here.