With the passage of the Senate Bill 365, “The Budget Control Act of 2011,” I have heard from my party loyalist friends on both sides of the aisle praising the compromise. Democrats are praising the compromise out of loyalty and Republicans are praising because they avoided the possibility of adding new taxes or eliminating Bush era tax cuts for the wealthy.
After analyzing this bill myself, I came to the independent conclusion that it is a failed attempt to move the economy forward and once again, it seems that President Obama conceded too much. The most disturbing aspect of this bill would be what it does to graduate students. Under the Budget Control Act of 2011 graduate students will no longer receive federal subsidize student loans which delays interest payments until six months after graduation.