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Independent Presidential Candidate Buddy Roemer on the government effort to keep student loan rates low.
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Well of course you really -- need out of DC to see this from coming lawsuit about she's got pushed to keep student loan rates low the White House threatening to veto.
The GOP plan that was just passed in the -- -- money.
From the president's health Carol ought to pay for the democratic plan uses tax hikes to fund it both parties though are how to get out and both parties.
Want to -- this one year extension to keep rates artificially low.
-- and -- -- says that is part of the problem both of these parties of the problem he's running for -- it that'd states as an independent.
He's former Louisiana governor buddy Rome and he joins we're gonna continue to see good to see you -- -- it's like.
I guess we can credits of at least we're looking for ways to pay sadness but -- arguing we're just paying for stuff we can't afford regard.
It's exactly they've seen to be no rules of engagement.
We've been here before.
Remember -- not talked about the Freddie Fannie Mae and Freddie Mac disaster -- giving housing mortgages to people who couldn't pay them back ever.
They gave three million housing mortgages to people who never made the first month -- Take three million tax 240000.
That 720.
Billion.
Guess how much the first bailout was 720.
-- at the math is easy here there's a trillion dollars student loan debt.
Much of it will never be read -- there are no standards many of it goes to students who are not serious.
Goes to college -- who haven't keep.
Kept the cost down it's not competitive and they're no rigorous standards and both parties -- the Republicans are better.
Then the Democrats in this -- Both parties have not taken a serious look at how we can invest in our children by the way.
Moral hazard is when you bail out Goldman Sachs you've got.
Bank of -- let's just -- and that's where we are way things are getting into one non.
Are we can business shows.
I'm not Fox's -- and -- -- channels -- government.
Is.
Whether TARP was wise and my argument was.
I was against the -- and -- I know you look for that polls slippery slope that you alluded to.
That even if it made sense -- banks which I didn't think -- -- it now he does set up the moral -- of -- expected which is what we got cancer clunkers.
This once it's -- yes that's what went to this end.
Everyone and his uncle wants a piece of any human nature I guess it's all moral hazard bullet and get yourself in that context that you -- say no.
Then what can you say no and even sets up for housing -- governors used it would point out and prior to.
Then everyone if there's another government rescue program coming.
And it requires you not to make mortgage payments for six months you're not gonna make more differences -- he's not gonna do it so how would it.
Haven't -- you know what when he was president James.
A couple of things I would spend a little attacked them with a carefully chosen committee of women in man.
And look at how to solve the problem it sounds like Barack Obama not commission -- all but here here's what I start off with.
Hot -- restructuring the debt is fair it's too big now.
It's a burden on the economy I think these kids our future but I would separate.
Those.
Well with money and those without money right now the loans don't make much differentiation.
They become an entitled -- what would you do with the ones with money.
They won't have to pay.
And their families will have to pay the cost of going to college.
I would revolutionize.
The tax code -- to help do that I would take I would have a 17% flat tax a 50000 dollar law.
Exemption for family of four.
So -- 50000 you pay zero federal taxes you pay us to state taxes and and property taxes but zero federal and a 100000.
You pay eight net percent at twelve.
-- at 250000.
You pay 15%.
At 750000.
You pay 17%.
Would be the top combined rate.
17%.
On federal income taxes it but it would be a real 70% right it would be one -- no exemptions.
No exemption zero.
No housing deduction no loopholes.
How did -- -- not gonna be elected county commissioner I nobody thought war.
This country would move we don't know -- -- would say.
I would take this spread is -- independent race in net do you need to running name is that that's going now I'm taking on the go my sister choosing -- to pick a Democrat and I I had to pick a Democrat or an independent.
-- or you could view of running right you -- be to number two I could.
You don't wanna be but -- I would rather be number one LSI fund somebody.
Better than me and I know they're out -- if you do take it from me governor even if they've -- that is because all the people here smarter than they.
Last -- not gonna let her -- so.
You would do debt.
And and that would -- structure.
Reviews would hurt the Republican nominee and more than the Democrat right.
Not necessarily mean they're both -- -- let this.
I mean would you stand up and salute Romney and if so what issue but isn't it on a fiscal issue -- any better than Barack Obama is he has spoken.
No question about all of foreign policy I'm not sure.
It is only own.
Taking corrupt money they're just the same that's the issue.
No precedent would do what needs to be done deal.
Unless they're free to lead.
Owned student loans on doing away with Fannie and Freddie own having a flat rate tax -- that's fair and progressive.
All my five year but no you still entree number -- Before you know it all the people who -- who would told me.
You know he makes a lot of sense and so want to waste my vote actually vote.
You could be present or let me -- dishonest that the gay here's what the election is today 303040.
30% Obama 30% Romney and 40%.
Don't give a damn about each one album and are disgusted and our freight that's -- -- -- that's Bob -- I'm after the forty watch me.
-- it -- get our national stage.
And you haven't been good in a debate -- -- -- you've given you know I don't know if he got very good and it today and I think we need to make it on and we already discussed Reagan and Carter I -- That's what I love about my -- my favorite country Italy they have 58 people running for office of the same time.
But they really that we have two choices register 1% right and a gap who won't still be 1%.
Well.
-- friends left and on always good seeing you and I know -- sector has a great deal how to present everything to do this I would -- do that but -- I don't Mandy thank.
