Remember Nancy Pelosi coming out and saying 4 million,gazillion, zillion jobs were going to be created by the passage of their healthcare bill? Well the inclusion of the federal takeover of student loans in the reconciliation portion of the package is going to have the exact opposite effect.
Under the measure, about $9 billion from education will go to offset health-care costs. Mang said this means about 1 million students won’t get loans for education.
Locally, Sallie Mae’s 700 employees would be reduced because between 50 percent and 60 percent of the work there is loan origination.
Heckuva a job Nancy.
The Reconciliation Bill is a minefield for the Republicans. On the one hand it seeks to correct a lot of the problems with the original legislation, but it seems neither Republicans or Democrats really want this legislation to be passed. The Dems hope it goes down in flames to allow them to pin the blame squarely on the Republicans, while at the same not wanting to have any of their sweetheart deals like the Cornhusker Kickback and the Louisiana Purchase to be cut. Without the reconciliation part all of those sweetheart deals stand.
The Dems can say we tried, but those evil Republicans from the party of no defeated it, when the truth is the Dems don't want the reconciliation part to pass anyway.
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