cantor lost his republican primary district was a tally of 56-44, which is a shocking, resounding defeat for the second most powerful house republican. today, the u.s. senate held a vote, which came out 56-38. and the side with the 38, that side won. because that is the upside down logic of democracy in the united states senate. and the bill at issue is exactly the kind of thing you d expect to result in a lopsided 18-point margin. it would have allowed an estimated 25 million americans to refinance their student loans at lower interest rates, which wouldn t cost the government money, but would cut into the profit the federal government is currently making off of student loans. and that reduced revenue, that would have been paid for by substituting the so-called buffett rule, setting minimum tax rates for people making over $1 million a year. bill was the brain child of massachusetts democrat, elizabeth warren, who managed to persuade 55 of her colleagues to vote with her, including re
resounding defeat for the second most powerful house republican. today, the u.s. senate held a vote, which came out 56-38. and the side with the 38, that side won. because that is the upside down logic of democracy in the united states senate. and the bill at issue is exactly the kind of thing you d expect to result in a lopsided 18-point margin. it would have allowed an estimated 25 million americans to refinance their student loans at lower interest rates, which wouldn t cost the government money, but would cut into the profit the federal government is currently making off of student loans. and that reduced revenue, that would have been paid for by substituting the so-called buffett rule, setting minimum tax rates for people making over $1 million a year. bill was the brain child of massachusetts democrat, elizabeth warren, who managed to persuade 55 of her colleagues to vote with her, including republican susan collins, bob corker, and lisa murkowski. she did not get enough republic
today, the u.s. senate held a vote, which came out 56-38. and the side with the 38, that side won. because that is the upside down logic of democracy in the united states senate. and the bill at issue is exactly the kind of thing you d expect to result in a lopsided 18-point margin. it would have allowed an estimated 25 million americans to refinance their student loans at lower interest rates, which wouldn t cost the government money, but would cut into the profit the federal government is currently making off of student loans. and that reduced revenue, that would have been paid for by instituting the so-called buffett rule, setting minimum tax rates for people making over $1 million a year. bill was the brain child of massachusetts democrat, elizabeth warren, who managed to persuade 55 of her colleagues to vote with her, including
in these parts of the budget. that s already been done, so the sequester is on top of this. the question is whether people like senator mccain, senator lindsey graham, who have real concerns and understandably with the very deep cuts on the military side, which are also across the board and are affecting military readiness, whether they will then say, look, we need to come together to replace the sequester and we re willing to look at cuts in other areas of the budgets, for example, i ve proposed we get rid of excessive direct subsidies. but we ve also said, and you started your program about the different polls showing different income groups reaction. we ve also said people earning $2 million a year should pay the same effective tax rate as the people who work for them, the so-called buffett rule, because the way to deal with this in the long-term is deal with the deficit in a balanced way. republican colleagues don t want
so-called buffett rule, because the way to deal with this in the long-term is deal with the deficit in a balanced way. republican colleagues don t want to do that. that s been a fundamental problem. you mentioned the defense part of the cuts, the deal was everyone s going to hate it because half the cuts come out of nondiscretionary, half comes out of nondefense nondiscretionary, half come out of defense. okay, that hasn t proven to be the case. i mean, are you surprised by how little leverage the defense cuts have seemed to give democrats to get out of the sequester? chris, i think the clock is continued to tick on this issue. it was never going to be the case the day after the sequester took effect, the sky was going to fall. you re going to have this grinding effect. so, for example, we re hearing right now that mechanics that work on, you know, our combat aircraft at military bases around the country may be furloughed as a result of this. people are going to start hearing more