Student loan compromise heads toward final vote

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  • DN Subscriber 2 SLC, UT
    July 31, 2013 1:44 p.m.

    "...the bill as written would reduce the deficit by $715 million over the next decade. During that same time, federal loans would be a $1.4 trillion program."

    The theoretical reduction in the "deficit" reflects not spending as much as if the loan rate had remained at the current 6.8%. No one will tell you how much this trillion dollar program will add to the actual DEBT, not the deficit.

    Perhaps some of the students benefiting from the loans will study economics and learn that you cannot borrow money endlessly without dire consequences. But, every taxpayer and taker will eventually have than lesson hammered home when the Chinese refuse to lend us more money, and the "free stuff" stops coming and taxes will take every dollar earned.