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Making the Tough Calls: ‘Youth Vote" and Low-Interest Student Debt

12:41 PM, Apr 20, 2012 • By GEOFFREY NORMAN
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President Obama is heading back to late night television next week,  to appear on comedian Jimmy Fallon’s show as part of a week-long push to pressure congressional Republicans to renew a measure keeping student loan rates at 3.4 percent.—CNN

This one must be an easy call. One hears no talk of putting off a decision until after the election. So more students will accumulate more debt that they will find difficult to pay off unless the economy begins to generate more employment, something the administration finds difficult but which is not likely to be mentioned by Mr. Fallon, in what is sure to be an otherwise hard-hitting interview.

Still, it isn't as though this one is a budget buster:

The Congressional Budget Office has estimated that a one-year freeze on the interest rate for subsidized Stafford loans would cost $6 billion.    

More than the revenue that would have been generated had the so-called Buffett Rule been made law, perhaps, but chicken feed in an age of trillion dollar deficits.

And the right kind of material for Mr. Fallon's show. 

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