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.
The accelerated “pay as you earn” program, which Obama will authorize through executive order, could benefit up to 1.6 million borrowers and reduce their payments by as much as a couple hundred dollars a month, administration officials said. All remaining debt on the federal loans would be forgiven after 20 years – five years earlier than under current law.
Reuters: …. President Obama’s appearance on “The Tonight Show With Jay Leno” lifted the show to its highest Tuesday-night ratings since March 2, 2010, the night after Leno returned to the show.
Tuesday’s episode received a 4.1/11 metered-market household rating, a 52 percent leap over his Tuesday-night average so far this season. With Obama’s appearance,” The Tonight Show” handily surpassed “Late Show with David Letterman,” which posted a 2.7/7 household rating, “Nightline,” which drew a 3.6/9, and “Jimmy Kimmel Live,” which received a 1.8./6.
Ruth Marcus (Washington Post): In an interview with Parade magazine, the Texas governor declared Obama’s place of birth a “distractive” issue even as he happily latched on to the opportunity to distract ….. It was classic Perry, combining logical incoherence and a smarmy cheap shot.
…. Is this a presidential campaign or a middle-school playground? I’ll show you mine if you show me yours? By the way, if I had Perry’s grades, I wouldn’t be mentioning them. Certainly not if I were running against a former president of the Harvard Law Review.
…. You might think this was the candidate cannily trying to have it both ways: a nod to the birther crazies with a simultaneous wink at those who know this is a ridiculous distraction. Except that Perry managed to step on his real message of the day: his unaffordable and unfair proposal to “simplify” the tax code – by grafting a flat-tax alternative onto the existing system.
…. The matter of Obama’s birth certificate should be a closed case. It is astonishing that a sitting governor, no less a serious candidate for president, would stoop to playing this game.
… The country is facing serious problems. This will be a fateful election. Voters deserve better than scare tactics and drivel.