On Loans Congress Sides With Obama, Taxpayers Against Ben Nelson and Banks

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"On Loans Congress Sides With Obama, Taxpayers Against Ben Nelson and Banks"

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It’s not as big a deal as health care, but it’s good to learn that the package of budget provisions approved for the “reconciliation” voting process includes Barack Obama’s plans to cut out the pointless subsidies to private student lenders. This is a no-brainer of a concept that will make a big difference to a lot of people.

But not only had Republicans decided to stand lockstep behind crony capitalism and higher taxes, but Ben Nelson (D-NE) was also against it apparently because one of the firms that benefits from the corruption is located in Nebraska. Consequently, the outlook for getting 60 votes was bleak. But as a reconciliation measure, the votes should be there. And as an application of reconciliation this should be relatively straightforward as deficit reduction has always been understood as the core purpose of reconciliation.

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