Young adults fear budget cuts will hit loans
January 4th, 2013
07:40 AM ET
2 years ago

Young adults fear budget cuts will hit loans

New York (CNNMoney) - Young adults in America have reason to like the fiscal cliff deal, but they aren't celebrating yet.

The bill, which was signed into law by President Obama on Wednesday, kept a number of tax breaks for education and low wage earners that many young adults rely on. However, the deal merely put off budget cuts that could hurt key programs like education grants and job training programs.

FULL STORY

Filed under: Education • President Obama
soundoff (14 Responses)
  1. DENNA

    These young people need to remember to vote again in 2014 for new Congressmen. The president can only do so much. Boehner, Cantor and the rest need to be gotten rid of. In the meantime, they should write to their GOP representatives ask them to find viable solutions to the need to receive an education without winding up in financial bondage. Hispanic and gay voters made their wishes known during the election and got the attention of the GOP. College-aged voters need to do the same.

    January 4, 2013 07:50 am at 7:50 am |
  2. Rudy NYC

    What are they worried about? Just borrow $10,000 from their parents and their worries are over?

    January 4, 2013 08:23 am at 8:23 am |
  3. Rick McDaniel

    The banks are still there. The government hand outs have to stop.

    January 4, 2013 08:24 am at 8:24 am |
  4. rs

    How else will the GOP be able to continue tax cuts for the rich? They feel young people should be excluded from higher education and be happy their loss supports the super-rich.

    January 4, 2013 08:28 am at 8:28 am |
  5. Gurgyl

    More than that these guys tell them to bring MANUFACTURING back and JOB-TRAINING cutting number of immigrations into USA because nation in grave danger. God bless this on coming generation. All stand up and talk leaving jealousy, greed, race feelings!!!

    January 4, 2013 08:46 am at 8:46 am |
  6. ST

    I get difficulties to understand some lawmakers especially from the republican side, saying they can not leave a huge debt to children and grandchildren. This is an old and an ill thinking. They can not make cuts on education and think they are doing them a favor not to pay for the huge debt in future. This is totally rubbish. There is no any BIG PRESENT you can give to any kid like education.

    January 4, 2013 09:02 am at 9:02 am |
  7. Karl

    How about working thru school ??? most people charge off thier student loans or dont work in a field they borrowed money to learn. Pay your own way, i did, its self rewarding not to be a mooch

    January 4, 2013 09:06 am at 9:06 am |
  8. Pete

    Remember republicans these young voters aren't as dumb as your conservative base,they read and keep up knowing just who to rail against come midterms..Good luck and watch these young adults take down your republican world brick by brick because you've stepped on too many toes and can't remember what feet they belong too,say good bye after midterms you've been warned!!

    January 4, 2013 09:07 am at 9:07 am |
  9. Larry in Houston

    Job Training can happen – but NOT in Manufacturing, it will never be back, like it was in the 1960's / 1970's / 1980's , period. Manufacturing here in this country is a thing of the past. IF i were a Factory Owner, I wouldn't bring back my factory back here in the states, if it was already overseas. It wouldn't be worth it. Just think, No E.P.A. – that means I would not have to worry about constantly keeping controls on what comess out of the smokestacks from my factory.

    January 4, 2013 09:07 am at 9:07 am |
  10. Fair is Fair

    Larry in Houston

    Job Training can happen – but NOT in Manufacturing, it will never be back, like it was in the 1960's / 1970's / 1980's , period. Manufacturing here in this country is a thing of the past. IF i were a Factory Owner, I wouldn't bring back my factory back here in the states, if it was already overseas. It wouldn't be worth it. Just think, No E.P.A. – that means I would not have to worry about constantly keeping controls on what comess out of the smokestacks from my factory.
    -----–
    You have some valid points, Larry...

    Let's take a look at "infrastructure" projects. How long do you think it would take to build another Hoover Dam? There would be 15 years of studies of spotted salamanders. Do you think the interstate highway system could be built in today's over-regulated environment? For crying out loud it takes more time now to fix a pothole in a road than it took to build the road.

    January 4, 2013 09:20 am at 9:20 am |
  11. Rudy NYC

    Manufacturing left this country in large part to be closer to the consumers of the products. It is much cheaper to ship raw materials than it is to ship finished goods because the finished goods consume far more space and must be protected damage. A lot of manufacturing moved to the growing consumer demand in emerging third world economies, especially southeast Asia.

    Manufacturing will return to the US as consumer demand rises and when the cost to ship finished products to the US becomes prohibitive.

    January 4, 2013 09:22 am at 9:22 am |
  12. Fair is Fair

    Rudy NYC

    Manufacturing left this country in large part to be closer to the consumers of the products. It is much cheaper to ship raw materials than it is to ship finished goods because the finished goods consume far more space and must be protected damage. A lot of manufacturing moved to the growing consumer demand in emerging third world economies, especially southeast Asia.

    Manufacturing will return to the US as consumer demand rises and when the cost to ship finished products to the US becomes prohibitive.
    ------
    I suppose that's good in theory... so why do we import so much from China that we have a massive trade imbalancewith them?

    January 4, 2013 09:37 am at 9:37 am |
  13. Larry in Houston

    ""15 years of spotted salamanders"" that's the problem – They didn't do such things when they were building the Hoover Dam & such things as those. The "Overregulation" is the biggest problem in this country today – I guess I consider myself lucky that I have a pension coming IN, from where I used to Work in a Factory for 28 yrs. THE E.P.A. IS A PROBLEM. canada doesn't have an epa problem, no does mexico, and I can name you so many OTHER countries that does NOT have an epa problem. They are waaay Too BIG. They are regulating everything – It's a wonder – if they catch y ou spit in the woods, it will become an automatic felony – what about the dugout or bullpen in a professional baseball game ? Are they eventually going to regulate that too ?

    January 4, 2013 09:41 am at 9:41 am |
  14. Fair is Fair

    @ Larry in Houston -

    Looks like we're in complete agreement on this one. I suppose there's a first time for everything.

    January 4, 2013 09:50 am at 9:50 am |