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Pres. kicks off 3-state tour focusing on student loan debt

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    Former Arkansas Governor Mike Huckabee weighs in

  • Duration 4:04
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Now the president -- time is -- his attention to student -- planning a three state swing next week to North Carolina Colorado and Iowa.

All three all battleground states.

The president plans to call on congress to stop interest rates on student loans from doubling this July rates could jump.

From 3.4.

To six point 8% now that a touchy subject these days.

To Mike Huckabee on how -- Deal with it the former GOP presidential candidate is with us right now.

Governor there is no way that the Republicans are gonna go and say -- Go ahead double the rate on student loans it's not gonna happen -- and it it shouldn't happen because he would be the essence of a tax increase when the economy is in.

The kind of shape that it's in right now on particularly when it's very difficult for a lot of people to get to college and and more importantly to get a job when they get out.

The worst thing you could do -- to set -- While you're down here's a number thirteen shoot let me put your -- -- That's just not gonna happen in fact what I think the Republicans should do is get -- front on this issue congratulate the president for bringing him up saying that's a wonderful idea.

We're glad you're gonna keep those interest rates low.

Now this is the same reason we want to keep taxes low Mr.

President.

Why don't you need is on that one will give you this you give us a guarantee.

That we're gonna extend the bush tax cuts we can -- the Obama tax cuts and make you -- he that's a wonderful political line in and it's a political winner on show but it doesn't deal with the basic problem that we've got a trillion dollars with a student loans outstanding.

-- if -- twentysomething.

40% of those people have an average debt of 23000 dollars and a lot of them simply cannot pay.

That there is saying okay go ahead and keep the interest rate low fat does not deal with the problem.

No it doesn't but you're not gonna get them to pay -- quicker if you raise the right by double.

-- so you're just gonna make the payments even more difficult for them to two to -- focus opposing the president goes for this bailout of student loans it is it has been proposed in congress the the congressman from those who was on our show last night he says right forgive loans if you pay about 10% of your income for ten years -- -- the -- -- -- I don't think he can do that because all the people who did pay their lines have been responsible.

And they shouldn't deserve to be in essence slapped in the face -- be played to be chumps because they actually pay their bills he gonna do that.

What -- all the people that -- on their cars -- their homes.

Are are they all on some things they bought on their vacation they put it on a credit card where do you stop -- you can't do that.

This one thing to say we're gonna keep the interest rates low but you have a debt.

This debt and the principal has to be paid and an interest has to be paid on it.

But when the basic debt for a home is the lowest it has ever been in American history it doesn't make sense to Jack up the cost of a student -- to six point 8% which would be.

Two or three points higher than you could get a mortgage well how do we back off.

From any government's office any handout if you want to put it that way that goes to an interest group that's clearly identified.

Had -- would draw a government so -- policed cult hit back a little bit how do you do that.

Well I think there's a big difference though between empowering people to be responsible and empowering them to be irresponsible.

If you make way for them to make payments whether it's on their student loan -- for that matter.

If you say look let's refinance your home you're gonna have to pay for it.

But we're gonna extend the terms from fifteen to thirty -- from 3040 years so that you can make the payments we don't have a bunch a houses out there on the -- the market that are in short sell.

That makes more sense danger still keeping people and homes they'll take better care of and they won't let him run to the dogs and end up looking like trash.

And then you end up with them a better housing market will always -- so -- sense I try putting it make sense -- -- tomorrow night on your show we've got a very special show we're gonna talk about what this election looks like and one of the five key.

Issues.

That will determine.

President Obama's standing are going.

Very -- If you like this check it out tomorrow on the fox news Channel 8 o'clock and Sunday as well as on the also let's not forget 8 o'clock that was always a pleasure that is that is.

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