3 Democratic senators reportedly want Biden to hold off on student-debt cancellation so they can push him to go big

Homepage | Forums | Main Forums | General Discussion | 3 Democratic senators reportedly want Biden to hold off on student-debt cancellation so they can push him to go big

Viewing 5 reply threads
  • Author
    Posts
    • #486832
      JonLP
      Participant
      • Total Posts: 3,584

      Three Democratic senators want President Joe Biden to go as big as possible with student-loan relief — and that means urging him to wait on canceling any debt.

      Politico reported on Friday that Senators Elizabeth Warren, Chuck Schumer, and Raphael Warnock are requesting Biden hold off on implementing any loan forgiveness via executive action until they can arrange a meeting with him, according to sources familiar with the matter. Per Politico, the three lawmakers want one last chance to push Biden to go as big as possible with relief, following the President’s comments that he is not considering $50,000 in debt cancellation for federal borrowers.

      “President Biden told the senator months ago he wanted to meet about this issue, and the senator wants to make sure the president hears why Georgians want strong debt relief before the White House takes any action,” a Warnock spokesperson told Politico.

      (snip)

      Schumer, Warnock, and Warren have consistently pushed for $50,000 in relief, and they have long argued that canceling student debt is something Biden can and should do using his executive authority. But Biden himself hasn’t been quite so sure. While he pledged to approve $10,000 in forgiveness on the campaign trail, he expressed hesitancy with his authority to wipe out larger amounts of student debt early into his term. Now, it looks like he believes he does have authority to enact broad relief, telling reporters recently a decision on that relief will be made in coming weeks, but it’s unclear how expansive it will be, or if it will be subjected to income limits.

      https://www.businessinsider.com/democrats-want-biden-hold-off-student-loan-forgiveness-warren-schumer-2022-5

      Let this radicalize you rather than lead you to despair - Mariame Kaba

      Like many public systems, GOP want to rip the battery out + say the whole car doesn’t work, so they can sell it for parts - AOC

    • #486839
      retired liberal
      Participant
      • Total Posts: 4,898

      Too many of the wrong people would benefit, they aren’t rich enough. Besides we need that money for our national defense, all over the world and elsewhere.

      We are an arrogant species, believing our fantasy based "facts" are better than the other person's fake facts.
      If Row vs. Wade is overturned, women could lose the right to not get pregnant in 26 states.
      The Republicans are four year olds. The Democrats are six year olds. There are no grownups.

    • #486841
      MizzGrizz
      Participant
      • Total Posts: 3,760

      Redundant

    • #486844
      Satan
      Participant
      • Total Posts: 6,027

      Elizabeth Warren launched her political career by being anti Wall Street banking, so it’s consistent with that record that she would want to cancel student debt. Warnock is an ordained minister, so he’s probably familiar with the biblical concept of “jubilee” which would involve cancellation of all debts. Something not very likely in the US, but at least the student debt would be a good start.

      Schumer, on the other horn, has been a complete tool of Wall $treet for his entire career. The only way he supports something like this is if he’s found a way for his greedy donors to some how get their money out of it, even if the debt is cancelled.

      "Those who make peaceful revolution impossible will make violent revolution inevitable". - John F. Kennedy

    • #486879
      closeupready
      Participant
      • Total Posts: 3,495

      So that with Republicans in control of at least one body of Congress, they won’t be able to pass Biden a bill, and thus, Biden will have an excuse not to forgive anyone anything. Even though his own Department of Education has approved the idea of an Executive Order forgiving student loans.

      The opinions and personal views expressed herein are solely those of the author, and should never be taken seriously.

      • #486885
        djean111
        Participant
        • Total Posts: 7,996

        Everything is merely campaign material to the Democrats now, IMO.

        I am still pondering – okay, cancel $50,000 debt.  What about ongoing, newly incurred debt?  What about the prohibitively high cost of further education?  Why would people be willing to take on high student debt now?  Add to that – student debt seems to be one of the US’ cash cows, and Biden is not going to kill that cow; he is quite proud of making student debt undischarged in bankruptcy.

        America is not a country, it's just a business. (Brad Pitt, Killing Them Softly)

        Everything I post is just my opinion, and, honestly, I would love to be wrong.

        A YouTube comment – we need new conspiracy theories – the old ones have all come true.

        • #486901
          closeupready
          Participant
          • Total Posts: 3,495

          I think you and I are both of an age when we remember when the University of California system was free to undergraduates, or else very low cost. If you had children and had the opportunity to work there and could find an affordable home, raising a family in California would have been attractive and not just for the weather.

          Those days are gone. The UC system today is not just super-competitive, but super-expensive.

          It’s the same story with the Big Ten land grant universities (University of Wisconsin, Ohio State University, University of Michigan, etc.), the University of Texas, and plenty of other states. Again, that’s all gone. Students at every university must go into massive debt, gambling their futures on the possibility of success. If, for whatever reason, they fail instead, they will still be burdened with a debt which will likely be $50,000 and more, will never expire, can not be discharged in bankruptcy and over which lenders can seize your social security benefits.

          No hyperbole needed.

          The opinions and personal views expressed herein are solely those of the author, and should never be taken seriously.

      • #486896
        Hobbit709
        Participant
        • Total Posts: 2,952

        Especially with Manshit and Sell-Out Sinema in the Senate.

        I don't waste my time teaching pigs to sing.

    • #486920
      Yanath
      Participant
      • Total Posts: 2,815

      I was listening to an interview of Garland Nixon, and he said student loan debt is now packaged as dirivatives in securities, kind of like the high-risk morgages back in the early 2000s, so it isn’t hard to get an idea of where this is going.

Viewing 5 reply threads
  • You must be logged in to reply to this topic.