Woodward Academy 2011-2012 File Title



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AT: Student Loans


Obama will veto.

U.S. Election News 4/28 — U.S. Election News, 2012 (“White House Say Obama Will Veto Student loan Bill by Republicans,” Byline Alexandra Taylor, April 28th, Available Online at http://uselectionnews.org/polls-2012-white-house-say-obama-will-veto-student-loan-bill-by-republicans/858321/, Accessed 04-28-2012)

The fierce political battle on the student loans is not over yet. The White House has on Friday threatened to veto a bill to prevent the interest rates from doubling from July 1 on a special kind of student loan as the bill proposed by the Republicans pays for it by cutting funds from the health care bill proposed by Obama.
Their PC key evidence is out of context and about immigration and tax increases.
The disad is not an opportunity cost to the plan – a rational policy maker controls both impacts
No link—a human mission can be done in NASA’s human spaceflight budget.

Zubrin 11 [July 1, 2011, Ira Flatow interview with Robert Zubrin, “Is Settling Mars Inevitable, Or An Impossibility?” http://www.npr.org/2011/07/01/137555244/is-settling-mars-inevitable-or-an-impossibility]

ZUBRIN: I think we could do a humans to Mars program within NASA's existing budget. NASA's currently getting 19 billion a year. That is the same amount, in inflation-adjusted dollars, as NASA's average budget was from '61 to '73, when we flew astronauts to the moon starting from zero space capability at the beginning of the program.

I think we simply have to spend NASA's budget better. I think the Obama administration, in, you know, canceling Bush's moon push without replacing it with anything and just doing a disorganized set of random programs, have done NASA an extreme disservice.

They're going to be spending three billion a year refurbishing the shuttle launch pads after the shuttle stops flying. That's pointless. They're going to be spending billions on researching orbital propellant depots to refuel interplanetary spacecraft that don't exist.

They're going to be spending billions researching a new electric thruster that's no better than the ones we already have while not developing the power source needed to drive either.

The way NASA can accomplish things, if it's given focus, it has enough money.



AT: Loans Solve Economy


Loans don’t solve the economy

CSM 4/24Christian Science Monitor, 2012 (“Student debt: How big a risk does it pose to the economy?,” Byline Mark Trumbull, April 24th, Available Online at http://www.csmonitor.com/layout/set/print/content/view/print/500136, Accessed 04-28-2012)

Surging student-loan debt has become a burden on the US economy – and President Obama is warning of a "tremendous blow" that could occur for millions of students in the form of an interest-rate hike in July.

So how big is this issue? Does student debt represent a brewing crisis?

Student loans pose a significant financial challenge for America, some economists say, but in a way that's different from the big buildup in mortgage debt that ended in a housing bust and deep recession.

"It's not a bubble that will burst," says Chris Christopher, an economist at IHS Global Insight in Lexington, Mass. "People still need to go to college.... The [financial] returns of education are still very vast."

Yet the debts resulting from college are a high and rising burden that now totals more than $1 trillion, by one official estimate. For a graduate, the burden can be like paying a second rent check each month. And the job market is still in poor shape, meaning that many grads face the loan payments while unemployed or underemployed.

The result is additional weakness in the economy. "People are delaying marriage," postponing having children, and taking a pass on home purchases, Mr. Christopher says. "They're living with their parents. They're not spending as much as they otherwise would have."

The problem is big enough that it's putting pressure on the US government – the nation's major provider of college loans and financial aid – to provide some sort of relief.

In an appearance at the University of North Carolina in Chapel Hill on Tuesday, Mr. Obama proposed that one major step should be to keep interest rates on federal college loans from jumping on July 1, when a government-orchestrated discount is set to expire.

More than 7.4 million students would see their interest rate on federally subsidized loans double if Congress fails to act, the White House says, with the rate climbing from 3.4 percent to 6.8 percent.

"Stopping this from happening should be a no-brainer," Obama said. "The Stafford loans we're talking about, they're named after a Republican senator.... This shouldn't be a partisan issue."

Mitt Romney, the expected Republican presidential nominee, said he also supports preventing the July interest-rate boost, but so far it is unclear how Republicans in Congress will address the issue.



Although the problem is large, the $1 trillion in student loans is only about one-tenth the scale of America's home mortgage debts. And fewer than 10 percent of recent graduates are defaulting on their federal loans, finance experts say. That means this isn't the kind of issue that's likely to cause a new recession or cause a fiscal crisis for the federal government.



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