On Tuesday, the U.S. Senate failed to reach a final vote on the Democratic plan to extend the current interest rates on student loans. Nebraska Sen. Mike Johanns is one of those who voted to kill the plan. Johanns tells us why he believes Senate Democratic leaders ought to be embarrassed by their tactics and why the Democratic bill would hurt small businesses and entitlement programs. Johanns explains why he supports the House GOP approach of tapping Obamacare funds to offset to revenues lost by not allowing interest rates to rise. He also rejects Democratic contentions that using those funds threatens health care for women. In fact he says President Obama calls for tapping the fund in his own budget. Sen. Johanns also talks about the growing fears that student loan debt could be the next economic bubble to burst and why the problem only gets worse as young people fail to find jobs.
