It’s not an overly reliable voting bloc for sure but if you start a habit.. maybe they hope it sticks?
Yes, one way to get people to keep voting for you is consistently delivering the goods and improving their lives. A novel concept!
My wife and I would benefit from this however as stated several times before, we are in favor of a restructuring/reform of the system but not all out forgiveness. It is definitely pandering.
I think another thing thats semi-funny about this debate is people are complaining about a pretty limited forgiveness with a resumption of payments while we basically keep indefinitely extending the moratorium on all loan payments, something that has happened with little fanfare or blowback for two years now. Maybe Biden should just keep extending it 6 months at a time, and hand that hot potato to the next guy.
He actually inarguably has the power of debt forgiveness. The question is the breadth of the power, not whether it exists.
Sadly now that you and I posted the same meme I’m retiring from posting. Unlike Tom Brady I know when I’ve lost my skills.
Check in the wrong column for Biden. I can’t understand the logic. If the government is hell bent on relief, it should be done through a debt exchange program. Option A: If you want your debt relief, you have to provide X hours of service to XYZ charitable organization to pay down your debt. Option B: The US government should trace all the debt to specific state universities. All that debt should be dropped into a “negative column” against contributions to any state. Private college debt should be pushed back to those Universities and required to foot the bill out of their endowment.
NAACP doesn't like it. https://thehill.com/homenews/admini...bidens-reported-plans-on-student-debt-relief/
Yeah, the 10k is the watered down weak sauce version, the usual Democratic thing of trying to keep your campaign promise in the most weasely fashion (like how $1400 checks plus the $600 prior to the election equaled their promise of $2000). Very early on $50k was the number floated around.
And yet another example of Biden being a puppet for the far left wing of the party by....not doing what they want.
Good read on student loan forgiveness. I don't have much an opinion on the overall larger issue, and I'm inclined against it. Noah Smith brings up two separate issues, one pro and one con, which I never even considered. The pro-forgiveness argument is about the fact that for so many young people, student loans weigh them down, causing a lack of economic choices as a result. I've often thought of that in terms of public service employment, or the effect of having healthcare tied to employment. But he really shows it as a significant effect, potentially justifying that forgiveness standing alone. Except that he also shows that even forgiving $10,000 per loan could be significantly inflationary. Really interesting read that I commend. Does student loan forgiveness make economic sense? (unpaywalled)
Any action that doesn't solve the real student debt issue is just a waste of time and money. Solve the higher education affordability first, then come back and see what can be done with student debt. This is just vote buying and pandering to your base noise.
We've had defacto loan forgiveness for everyone for 2 years, resuming payments and forgiving some small amount would be significantly less inflationary than the current status quo
What I would rather see is a lawsuit filed by Garland against the sleazy, garbage, for profit “schools”.
Said it before, a blanket cancellation of student debt even one that is limited like Biden's supposed proposal is not a good idea. On the other hand student borrowers who cannot repay the full amount of their loans should have the same opportunity to discharge their debt through bankruptcy as a certain incompetent real estate developer did six times.
