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The Carthage Press
A blog 'for independent minds'
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Opinion page editor Rick Holmes and other writers blog about national politics and issues. Holmes & Co. is a Blog for Independent Minds, a place for a free-flowing discussion of policy, news and opinion. This blog is the online cousin of the Opinion ...
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Political Views
Opinion page editor Rick Holmes and other writers blog about national politics and issues. Holmes & Co. is a Blog for Independent Minds, a place for a free-flowing discussion of policy, news and opinion. This blog is the online cousin of the Opinion section of the MetroWest Daily News in Framingham, Mass. As such, our focus starts there and spreads to include Massachusetts, the nation and the world. Since successful blogs create communities of readers and writers, we hope the \x34& Co.\x34 will also come to include you.
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By Rick Holmes
June 9, 2014 12:01 a.m.



As our friend Walter Ramsey, among others, regularly reminds us, young Americans have it rough economically, and get little help from a political establishment that long ago learned the lesson that old people vote and young people don’t.

Frank Bruni reviews the way the boomers have screwed the millennials in today’s Times, including a telling stat:

The Urban Institute released a report in 2012 that looked at figures from 2008 for the combined local, state and federal spending that directly benefited Americans 65 and older versus spending that went to Americans under 19; the per capita discrepancy was $26,355 versus $11,822.

Comparing the amount spent on different generational groups is inevitable, but I don’t buy the implication that in order to help young people you have to take something away from senior citizens and retirees.  It’s not a zero-sum game.  If you want to help young people, don’t screw their parents and grandparents.  Just help young people.

One way to do that, as I point out in an editorial today, is to allow them to refinance some of the $1.2 trillion in outstanding student loans.  Many of them are paying up to 7 percent interest rates.  While owners of mortgages, credit card debt, even municipalities have been able to refinance their debt, student loan interest rates are set by Congress – and Congress is banking billions in profits from the national student loan program.  Letting them refinance would be good for the young people and good for the economy.

Sen. Elizabeth Warren’s bill will be put before the Senate for a vote this week, after which it will be sent to the House, where it will be put to death.  Will anyone ask why?

 

 

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