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from The Great Debate:

Student loans: Exploiting America’s young

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President Barack Obama talks about the rising costs of student loans while at the University of Iowa in Iowa City, April 25, 2012. REUTERS/Larry Downing

Obamacare was paid for on the backs of students.

You may remember that Obamacare staggered over the legislative finish line in 2010 with $19 billion in profits from changes to the student loan program. The changes included nationalizing federal student lending and setting loan interest rates high enough to generate profits to cover the healthcare costs.

Monday, President Barack Obama and the Democratic-led Senate again put their political and legislative priorities ahead of students and allowed their loan interest rates to double.

This student loan episode cements the Obama administration’s continuing pattern of economically exploiting  younger voters. Because of the Obamacare-created Federal Direct Lending Program, a 2009 freshman who qualified for federal subsidies and borrowed the maximum Stafford Loan every year will graduate with a financial penalty of over $400 more in debt than if markets had set interest rates. A more affluent freshman, who did not qualify for subsidies, will carry an additional $1,400 in debt. Meanwhile, a graduate student, who entered a three-year program in 2009, will be facing nearly $3,400 more in debt as he or she seeks to launch a career.

from Reihan Salam:

Carbon isn’t just America’s problem

Canada has 35 million people. Africa has just over 1 billion. But rather remarkably, Canada consumes about as much energy as all of Africa, according to Robert Bryce, a senior fellow at the Manhattan Institute and author of Power Hungry, a provocative look at the global energy industry. As African economies grow, however, it is a safe bet that African energy consumption will grow with it, just as energy consumption has increased in China and India and around the world as hundreds of millions have escaped poverty. And that is the key challenge facing those who hope to do something about carbon emissions, including President Obama.

Despite the fact that less than a third of U.S. voters believe that climate policy ought to be a high priority, according to a Pew survey conducted in January, the president gave a sweeping climate policy address earlier this week. During the 2012 presidential election, Mitt Romney tried to gain traction by claiming that the Obama administration was waging a “war on coal,” a charge the president and his allies adamantly rejected. Yet there is no denying that President Obama has backed regulations that are making it more expensive to extract and burn coal, as Juliet Eilperin recently documented in the Washington Post. The really new development this week is that while the president had been working to make new coal plants unviable, he is now seeking to impose regulations on existing coal plants that will either lead to steep penalty payments or force premature shutdowns.

from The Great Debate:

Why D.C. is wrong to discredit Iran’s new president

America finds itself exactly where Iran was four years ago. Back then, America had just elected a new, articulate president who offered hope and promised a new approach to the world and Iran. His election was a direct rejection of the foreign policy of his predecessor, President George W. Bush, whose favorite tools of statecraft appeared to be military force and confrontational rhetoric.

The question Iran grappled with in 2009 was whether this new president -- Barack Obama -- really represented change or if it was merely an act of electoral deception.

from The Great Debate:

The cost of America’s first black president

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President Barack Obama addresses supporters at his election night victory rally in Chicago, Nov. 7, 2012. REUTERS/Adrees Latif

Barack Obama, America’s first black president, can be credited with many milestones -- a comprehensive federal healthcare bill, taking down the world’s most wanted terrorist, signing the Fair Pay Act for gender pay equality, to name a few.

from The Great Debate:

NSA as ‘Big Brother’? Not even close

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Reader holding a copy of George Orwell's 1984, June 9, 2013.  REUTERS/Toby Melville

When the Guardian and the Washington Post revealed details about the National Security Agency collecting phone data from telecommunications companies and U.S. government programs pulling in emails and photographs from internet businesses, suddenly “George Orwell” was leading the news.

from The Great Debate:

Obama signals global shift on climate change

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President Barack Obama rolls up his shirt sleeve before speaking about his vision to reduce carbon pollution at Georgetown University in Washington, June 25, 2013. REUTERS/Larry Downing  

President Barack Obama unveiled his national plan Tuesday to “reduce carbon pollution and lead global efforts to fight” climate change. He intends to rely heavily on executive actions rather than seeking congressional legislation.

from The Great Debate:

Why Obama must prevail for a ‘grand bargain’

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President Barack Obama and House Speaker John Boehner (R-Ohio) (R) in Washington, Mar. 19, 2013. REUTERS/Gary Cameron

It's been a while since we've had good news about our economy, so the recent upbeat reports are welcome. The deficit picture for 2013 has brightened a bit, along with an upturn in the housing market. Yet those developments don't tell the full story. Our economic horizon remains cloudy due to serious structural challenges.

from MacroScope:

Back to banking union

The G8 produced little heat or light on the state of the world economy but if there was one clarion call it was for the euro zone to get on with forming a banking union – the last major initiative needed to draw a line under the euro zone debt crisis.

With the European Central Bank effectively underwriting the bloc’s governments with its bond-buying pledge, a cross-border mechanism to recapitalise or wind up failing banks would do the same for the financial sector.

from The Great Debate:

Why Russia won’t deal on NATO missile defense

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President Barack Obama meets with Russia's President Vladimir Putin in Mexico, June 18, 2012. REUTERS/Jason Reed

President Barack Obama and Russian President Vladimir Putin are expected to discuss missile defense, their thorniest bilateral problem, at the G8 summit in Ireland on June 17 and 18. Previous talks between Russia and the North Atlantic Treaty Organization have floundered over the alliance’s refusal to give Moscow legal guarantees that the system would not undermine Russian nuclear forces.

from David Rohde:

Obama’s ‘best bad choice’ in Syria

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Damaged buildings and debris in Deir al-Zor, June 13, 2013.Picture taken June 13, 2013. REUTERS/Khalil Ashawi

UPDATE: The final passage of this piece criticizes the "Shia fundamentalists who are holding Iran's staged elections." Early results from Tehran suggest that reformist candidate Hassan Rohani has achieved a stunning victory. Iran's green movement, which was crushed in 2009, is apparently alive and well.  The country's conservative clerics are apparently unwilling to steal another election and risk another round of protests. The results reinforce the point at the end of the piece: we focus too much on the region's fundamentalists and too little on its moderates.

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