President Obama finally took action to assist the lives of young Americans by announcing their payment schedule for outstanding loans would witness lower payments. If a student has $60,000 in outstanding debt, their payment would drop from $358 a month to $239. Naturally, Republicans are up in arms at pandering to students. After all, they believe America can only restore prosperity if the wealthy pay lower taxes. Of course, allowing deadbeat students to get away with lower payments is undoubtedly the first step on the road to communism!
I assume if a student now has an additional $200 a month in income, that money will immediately be spent on goods and services. In other words, as billions of additional spending enters the economy new jobs are created. I guess students are the job creators. Perhaps, the next step is to bail out all student loans and pay for this by raising taxes on wealthy folk.