More executive action circumventing Congress:
From the Washington Post.
President Obama on Wednesday announced a plan to allow college graduates to cap federal student loan repayments at 10 percent of discretionary income starting in January, two years before the cap was due to take effect under federal law.
A muted response from the Atlantic:
Of the many long-term problems the U.S. economy faces, student loans are a big one. Education costs are rising very quickly and incomes aren't. As a result, students will have to borrow more and more money to obtain university degrees and will have a tougher time paying their loans. President Obama seeks to respond to this question with an executive order in the next part of his "We Can't Wait" unilateral stimulus effort. While the president's heart may be in the right place, his effort isn't like to have much impact.
The National Journal puts the effort in context:
The Obama administration is set to announce relaxations in student loan repayments on Wednesday, a third in a series of executive orders issued as part of the “we can’t wait” campaign to boost the economy without the help of Congress.
- Some Q and A.
