Apr 20, 2012 1 Comment ›› Pat Dollard
Excerpted from The Daily Caller: The Democratic Party is springing a five-year-old political trap that may help President Barack Obama win support from middle-class parents and young voters.
Their trap is the scheduled election-year doubling of interest rates on government-provided student loans.
The pre-planned doubling forces GOP politicians to either approve a Democratic measure that extends the low interest rates, or else face protest from millions of students and their middle-class parents.
Many GOP legislators dislike the subsidized interest rate because it inflates education costs while delivering a disguised subsidy to the Democrats’ political allies in the education industry.
The trap “kinda makes sense,” said Mark Kantrowitz, publisher of Finaid.org, a financial aid website.
“It’s a ‘Heads I win, tails you lose,’ scenario, where if President Obama succeeds in getting it extended a for a year he gets a victory for a key segment of the voters [and] if it gets blocked, he can blame his opponents for blocking it.”
“Either way he wins,“ Kantrowitz said.