Congresswoman Buerkle talks interest rates and answers questions in Geddes town hall meeting
Tue, 01 May 2012 03:32:12 GMT —
This year alone, 8 million students took out loans to help pay for their education and they're facing a dramatic hike in interest rates, if Washington lawmakers don't come to an agreement.
"That bill has left the house and is now over in the senate and we are waiting for the senate to take action and we hope they do
," said Republican Congresswoman Ann Marie Buerkle. "In the fragile economy we are in to double the interest on student loans would be detrimental."
If the bill passes, it would keep interest rates for students at 3.4 percent; if it doesn't pass through the senate, they would double to 6.8% in July.
"You cannot put this burden on the backs of our young people graduating from college
," said Diane Dwire.
The interest rate debate was just one of the many topics the
ongresswoman addressed in a town hall meeting Monday night in Geddes.
The crowded room asked about everything from social security, to veteran issues to the so-called war on women. The wide range of issues all have one thing in common. They all boil down to money. Something the government is struggling to come up with.
"Everything costs money and you take it from one pocket and put it into another. We have to stop spending. We are an entitlement community. We are spending more money on entitlements that are taken away from Syracuse; in essence we are cutting bone to support fat
," said Ed McLaughlin.
With the country facing 16 trillion dollars in debt
Buerkle says the government needs to buckle down and reduce spending to get our economy on stronger ground.