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Big gift?

November 16, 2012 - Jim Anderson
Mitt Romney said many curious things in his recent conference call with fund-raisers and donors to his campaign, but let’s just focus on his claim that President Obama wooed young voters with a “big gift.”

As he put it, ““With regards to the young people, for instance, a forgiveness of college loan interest was a big gift.”

Huh?

This past summer, Congress reached an agreement to extend the discounted interest rate on subsidized federal loans. Without that action, the interest rate had been set to increase from 3.4 percent to 6.8 percent on July 1. Romney, in fact, supported the extension.

So, in Romney’s view, preventing a doubling of interest rates was “a big gift to young people” from the president?

A “gift” that Romney also supported ... .

Maybe, in fairness, Romney was referring to something else during his conference call.

Perhaps he was critical of President Obama’s “Pay As You Earn” program, which caps monthly federal student loan repayments at 10 percent of monthly discretionary income.

Romney did support rolling back this program, although I never heard him characterize it as a “big gift to young people” during the campaign. Romney proposed reversing the nationalization of student loans and encouraging more private sector participation.

All in the interest, perhaps, of preventing a big gift to young people.

 
 
 

 

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