Student Loan Overhaul Taking Filibuster-Proof Route To Overcome Corporate Opposition

[laughingliberal]

Having finally decided to use the filibuster-proof budget reconciliation process to push health-care reform over the finish line, Democratic leaders have tentatively agreed to attach a long-sought overhaul of college financial aid to the measure.

That's because health care and federal financial aid have something very significant in common: Hugely powerful corporate interests devoted to preserving the status quo -- and willing to spend vast amounts of money on campaign donations, lobbying and PR to fight change.

When corporate interests are threatened, the Republican Party can often be counted on to fall into lockstep opposition -- but so can handfuls of skittish or pro-business Democrats in both chambers. As a result, when a well-funded ox is in danger of getting gored, good luck getting 60 votes in the Senate. Heck, even 50 can be a challenge.

The financial aid measure provides a case study in the susceptibility of elected officials, especially during campaign season, to pressure from moneyed interests.

At issue is the federal subsidy to private, for-profit lenders to make loans to college students that the government itself can make directly, with no subsidy, and just as well. Eliminating the subsidy is expected to save somewhere between $47 billion and $87 billion over the next 10 years. President Obama is proposing to take that money and use it for direct grants to needy students instead.

http://www.huffingtonpost.com/2010/03/12/student-loan-overhaul-tak_n_496899.html

[yurbud]

1. is it possible that the Democrats are finally figuring out how to play procedural hardball?

[laughingliberal]

2. Perhaps

Of course, one of my thoughts was I have to admit this would be one good thing passing in the HCR bill.

I know! Bad Laughing Liberal! Bad!

:spank:

[yurbud]

5. hahahaha!

[w4rma]

3. Very good. (nt)

[Greyhound]

4. K&R

[Change Happens]

6. Awesome! and Brilliant! Pass the damn bill bro!