House Republicans to Cut Programs
House Republicans voted to cut student loan subsidies, child support enforcement and aid to firms hurt by unfair trade practices. These are a part of a planned $50 billion cut. The original plan was for cuts totaling $35B, but after pressure from conservatives, the GOP has pledged an additional $15B in cuts to fund hurricane recovery.
The cuts to student aid include new fees to students who default on their loans or consolidate them.
$2.4 billion will be spent on drilling for oil in the Arctic National Wildlife Refuge. And over the next five years $106 billion will be spent on tax cuts, most of which will benefit the wealthy top 10%.
These budget changes will affect those who can't pay for college on their own and those single parents who cannot collect child support from "dead beat dads" and have to rely on the government to pick up the tab. These are all pitfalls of a Republican administration. I say, "George Bush doesn't care about [poor] people."
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update
As Congress moves to slash $40 billion in spending, no program will take a bigger hit than college loans, where almost $13 billion would be cut over five years.
For students, the upshot is mixed. Excessive government payments to banks would be halted, freeing up some dollars for new grants, larger loan limits and reduced loan fees.
But overall, the student loan program would endure the largest cut in its history, and most of the money would not be pumped back into education. Instead, under a plan the House approved,the money would be counted only toward reducing the federal deficit.
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