House to vote on health care reform Sunday.

[garbon]

I hate being a cynic but cynicism just leads to one being right.

[DGuller]

Bad night for Republicans, good night for Americans.

[MadBurgerMaker]

What's this about student loan changes in this? 

[garbon]

Bad night for Republicans, good night for Americans.

[Lettow77]

 This furthers the cause for secession and states rights in the South; in that sense, it was a triumph.

[DGuller]

What's this about student loan changes in this? 

It got stuck in to win over some Democrats, if I understand this right.  From what I heard over the years, the the student loan program was an obscene and pointless subsidy to the banks who issued the student loans.

[garbon]

This furthers the cause for secession and states rights in the South; in that sense, it was a triumph.

Do you actually have a brain?

[Hansmeister]

What's this about student loan changes in this? 

A gov't takeover of the Student Loan Insurance biz got thrown in as a "revenue" raiser.  Of course it is only a revenue raiser if the gov't is capable of handling the default risk as effective as the banks since it will now bear all of the risk.  otherwise it is most likely another giant money pit.

However, it is in the "Reconciliation Bill", which might never get voted on.  These were mostly empty promises to buy House members votes, I doubt the Senate really desires another messy protracted fight just for the benefit of the House.  The last thing they want is to keep the helth care debate going for another month or two.

[DGuller]

Pelosi's laugh could chill the spines of the whole army.

[DontSayBanana]

A gov't takeover of the Student Loan Insurance biz got thrown in as a "revenue" raiser.  Of course it is only a revenue raiser if the gov't is capable of handling the default risk as effective as the banks since it will now bear all of the risk.  otherwise it is most likely another giant money pit.

However, it is in the "Reconciliation Bill", which might never get voted on.  These were mostly empty promises to buy House members votes, I doubt the Senate really desires another messy protracted fight just for the benefit of the House.  The last thing they want is to keep the helth care debate going for another month or two.

BTW, just to counter Hansi-spin, it's actually going to take messy parliamentary politicking to kill the reconciliation bill; reconciliation is a 51-vote simple majority, so the only thing that can kill it now is Republicans working around the clock to spin measures as not actually being deficit-reducers, after the Democrats waited on CBO estimates saying that they are.

I've got issues with both sides of the healthcare debate and would really prefer the damn legislation just went away, but what pleases me is that tonight, the Republicans failed at grotesquely exploiting loopholes in the legislation process.  I turned several shades of purple when they pulled that "motion to recommit" nonsense after passing the bill.

Now, look, I don't care about the conservatards and their ilk showing their disdain for the general public; I'm generally pretty open to the notion that pure democracy is not the only way to run an effective government.  What pisses me off is the way they then try to pass the buck and make it sound like people want to bend over and take it from them, in the face of all evidence to the contrary.  Lately, it seems like to be a Republican, you have to check your common sense and your sense of reality at the door.

[DontSayBanana]

BTW, I would argue that tonight was better for the Republicans than they're going to admit; it'd take some serious balls to run for re-election after proving beyond the shadow of a doubt that the rules only apply when they suit you.  You Republicans might want to think how easy it would have been to attack that kind of politicking come the fall.

[Faeelin]

[A gov't takeover of the Student Loan Insurance biz got thrown in as a "revenue" raiser.  Of course it is only a revenue raiser if the gov't is capable of handling the default risk as effective as the banks since it will now bear all of the risk.  otherwise it is most likely another giant money pit.

Since 1965, government has helped students finance college through the Federal Family Education Loan program. The system essentially operates as a lucrative form of corporate welfare, offering a guaranteed rate of return for banks and other middlemen who provide capital for student loans. The government not only makes all the decisions — who is eligible for loans, for what amount and at what rate — but it protects private lenders from virtually any risk: When college students are unable to repay their debts, taxpayers are required by law to reimburse the banks for 97 percent of the losses. "

http://www.rollingstone.com/politics/story/29872191/obamas_real_reform

[Hansmeister]

BTW, I would argue that tonight was better for the Republicans than they're going to admit; it'd take some serious balls to run for re-election after proving beyond the shadow of a doubt that the rules only apply when they suit you.  You Republicans might want to think how easy it would have been to attack that kind of politicking come the fall.

Way ahead of you, way ahead.

As far as the Reconciliation Bill, it only needs 51 votes if the Parliamentarian rules that it falls under the reconciliation process, a big if.  And even with that the GOP can drag out the progress significantly through the amendment process.  However, the biggest problem with the bill is that nobody in the Senate really cares for it.  Why pick a nasty fight with the GOP for the benefit of the House?  After all, the Senate already got its bill thru.  Do the Senators really want to continue debating health care, or would they rather focus on something, anything else?

[Hansmeister]

[A gov't takeover of the Student Loan Insurance biz got thrown in as a "revenue" raiser.  Of course it is only a revenue raiser if the gov't is capable of handling the default risk as effective as the banks since it will now bear all of the risk.  otherwise it is most likely another giant money pit.

Since 1965, government has helped students finance college through the Federal Family Education Loan program. The system essentially operates as a lucrative form of corporate welfare, offering a guaranteed rate of return for banks and other middlemen who provide capital for student loans. The government not only makes all the decisions — who is eligible for loans, for what amount and at what rate — but it protects private lenders from virtually any risk: When college students are unable to repay their debts, taxpayers are required by law to reimburse the banks for 97 percent of the losses. "

http://www.rollingstone.com/politics/story/29872191/obamas_real_reform

While 97% is awfully high, it is still less than a 100%.  Of course, the gov't shouldn't be in the business of providing student loans, or guaranteeing them.  It just feeds the wastefullness of the higher ed biz.

[DGuller]

While 97% is awfully high, it is still less than a 100%.

Yes, that last 3% will really push things over the top, and vastly outstrip the amount of subsidy that goes to the banks.