it cant happen here (who could imagine that they would freak out in washington, dc)

Es­ti­mated reading time is 1 minute.

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.

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