Most Read
Image 01 Image 02 Image 03

Biden Under Increasing Pressure From Left to Cancel Student Debt Through Executive Order

Biden Under Increasing Pressure From Left to Cancel Student Debt Through Executive Order

“Elizabeth Warren, D-Mass., held a hearing Tuesday afternoon on the burden of student loan debt and urged Biden to cancel the loans as soon as possible”

https://youtu.be/WiibnnQi-dI

Joe Biden faces increasing pressure from members of his party and left-leaning organizations to cancel student debt through executive action.

Senator Elizabeth Warren of Massachusetts, who made a small fortune teaching at Harvard, is leading the charge.

Annie Nova reports at CNBC:

Pressure mounts for Biden to forgive student debt

While the latest Covid stimulus package and a new massive infrastructure bill are the main topics of conversation in Washington of late, President Joe Biden continues to be under mounting pressure to take action on student loan forgiveness, too.

Sen. Elizabeth Warren, D-Mass., held a hearing Tuesday afternoon on the burden of student loan debt and urged Biden to cancel the loans as soon as possible.

“America is facing a student loan time bomb that, when it explodes, could throw millions of families over a financial cliff,” Warren said. “The average borrower will have to start paying nearly $400 a month to the government instead of spending that money out in the economy.”

Hundreds of organizations pressed Biden in a recent letter:

Also on Tuesday, more than 415 organizations, including the American Civil Liberties Union, the American Psychological Association and the Consumer Federation of America, wrote a letter to Biden and Vice President Kamala Harris calling on the White House to use executive authority “to cancel federal student debt immediately.”

“Before the Covid-19 public health crisis began, student debt was already a drag on the national economy, weighing heaviest on Black and Latinx communities, as well as women,” the organizations wrote.

Squad member Rep. Ayanna Pressley of Massachusetts is even tying student debt cancellation to Critical Race Theory by suggesting you’re not sufficiently anti-racist if you oppose student debt cancellation.

Houston Keane reports at FOX News:

‘Squad’ member Ayanna Pressley: You ‘can’t be anti-racist’ if you don’t want to cancel student debt

“Squad”-member Rep. Ayanna Pressley, D-Mass., claimed that a person is unable to be “anti-racist” unless they support cancelling student debt.

In a tweet published on Monday, Pressley – one of the members of the “Squad” alongside Reps. Alexandria Ocasio-Cortez, D-N.Y., Ilhan Omar, D-Minn., and Rashida Tlaib, D-Mich. – shared an article by the Washington Post that detailed the stories of people across America with student debts.

Alongside the article, Pressley claimed that a person cannot stand against racism if they don’t support canceling student debt.

“You can’t be anti-racist if you’re anti student debt cancellation,” Pressley wrote.

Democrats ignore the fact that this debt was all taken on voluntarily.

Additionally, multiple studies have shown that student debt cancellation would ultimately benefit students from affluent families, not the poor.

Democrats also have no answer for the millions of students who paid their student loans through hard work.

There is no refund plan for responsible people.

DONATE

Donations tax deductible
to the full extent allowed by law.

Comments

I’m actually surprised he hadn’t already done it. Some, smarter Democrat, must have explained to him that it would be a disaster to do it. That politically it would infuriate a lot of people and would be great for the GOP during the mid-terms.

    alaskabob in reply to TheOldZombie. | April 14, 2021 at 1:55 pm

    Having Biden do it is the easiest path since he is totally expendable politically. With Harris ready to take instructions from the Central Committee, everything can be done and blame it on Biden.

Is it even legal to do this by executive order?

If I am a GOP candidate I am going to make an ad about making the working class and responsible loan accepted pay for the irresponsible.

The solution to student debt is not loan forgiveness. It is making the colleges who encourage the loans at least partially responsible when former students default.

    The Friendly Grizzly in reply to kimd09876. | April 14, 2021 at 12:05 pm

    A further solution is to put student loans in the hands of private lenders. Very few will grant loans to grievance studies majors because they know the loan will never be paid.

      Lucifer Morningstar in reply to The Friendly Grizzly. | April 14, 2021 at 1:01 pm

      A further solution is to put student loans in the hands of private lenders.

      You mean put it back into the hands of private lenders. That’s the way it was before the federal government nationalized student loans and took them out of the hands of private lenders.

      Remember when Maxine Waters had her ass handed to her as she tried to blame “big bank” for the student debt crisis and they told her they don’t do student loans any longer now that the government had taken them over. (And she quickly changed the subject.) 🤣🤣

      https://youtu.be/JzSx1HBRCOg?t=7

    guyjones in reply to kimd09876. | April 14, 2021 at 12:19 pm

    So typical of the Dhimmi-crats to want to encourage personal profligacy and shirking of one’s debt obligations, paid for with money from responsible taxpayers.

    Lucifer Morningstar in reply to kimd09876. | April 14, 2021 at 1:10 pm

    Is it even legal to do this by executive order? </blockquote.

    I would suspect that Biden, Warren and the rest of the democrats aren't too overly concerned about the legalities of what they are doing through the use of executive orders. That's why they are now working on "judicial reform". So that they can get the decisions they need to justify their actions from the Supreme Court.

    Ironclaw in reply to kimd09876. | April 14, 2021 at 7:38 pm

    Let the colleges underwrite their own educational loans, that might also encourage them to have appropriate admission standards as well.

This is just another plastic carrot for them to wave at their flagging supporters, aimed at the idiots with ‘studies’ degrees and no usable career path in the new economy other than to actually get their hands dirty and work. If you’ve got a clean drug screen, no felony convictions, and are willing to show up every day for a full day of work, businesses WANT you. Most of the Dems that are targeted by this fake enticement are zero for three in that regard.

As soon as one of these politicians puts forth a plan calling for the bulk of this money to be clawed back from the colleges that benefited from the loan programs I will sign up to support it.

    Old and Bitter in reply to Massinsanity. | April 14, 2021 at 2:37 pm

    I’m pretty sure these colleges literally have billions in their endowments that can easily pay these loans off. If they were made to use that money, they’d be less likely to offer garbage classes.

    Let the college pick up the tab for a change.

The Friendly Grizzly | April 14, 2021 at 12:03 pm

It is long past time for the Executive Order to be done away with. They have become Royal Decrees.

On what basis are they claiming Biden has the authority to do this via executive order?

    Lucifer Morningstar in reply to CorkyAgain. | April 14, 2021 at 1:13 pm

    On what basis are they claiming Biden has the authority to do this via executive order?

    On the basis of they’re in charge and they said they’re going to do it.

      henrybowman in reply to Lucifer Morningstar. | April 14, 2021 at 2:15 pm

      It’s not an appropriation — the money has already been spent. An executive agency holds the debt, all that needs to be done is to shred the markers. Unless that action was contemplated by those who wrote the authorizing legislation, he may well get away with it.

Cancelling Student Debt Through Executive Order” is probably a worse idea that getting rid of the filibuster.

Imagine if Trump could have private corporations build the wall, then cancel the debt.

The possibilities are endless.

    henrybowman in reply to Neo. | April 15, 2021 at 3:00 am

    The significant difference here is that in case 1, the debt is what the government owes the construction companies, while in case 2, the debt is what graduates owe the government. You can’t cancel a debt you owe, but you can easily cancel a debt owed you.

Student loans are already in deferment. Interest rate zero, no payments due. I kept making payments for a while on the theory that it would cut down principal and make my life easier when payments resumed.

More fool me. I stopped paying when they shoehorned Biden into office because throwing money down a hole doesn’t make sense. If the administration pretending to be directed by Biden does go through with forgiving SL debt, it will be a big help to me, personally.

It’s still wrong.

Considering progressive career opportunities, this would be a good move, but should be accompanied with credits to students who paid full price (not cost), and should not be executed through shared/shifted responsibility. Then back to the future: Obamacares.

Lucifer Morningstar | April 14, 2021 at 1:17 pm

And what about us people that diligently paid off our student loans and don’t owe anything any longer. Do we get some kind of reparation from the government for actually paying off our student loans? Or are we just fucked because we were stupid enough to actually think paying off our debts was a good thing.

    Massinsanity in reply to Lucifer Morningstar. | April 14, 2021 at 1:34 pm

    Further, one would assume that this would mark the end of the student loan market, period. Will colleges adjust to a market without loans and lower prices or is the expectation that all the money that went into loans will now just be handed out as grants?

      henrybowman in reply to Massinsanity. | April 14, 2021 at 2:19 pm

      Oh, clearly the latter. The taxpayers have no leverage here — they can’t say, “My investment in student lending crashed, so I will not invest in the future,” like they could if the loans originated in a bank. And if you think the fedguv is going to stop shoveling money into their propaganda factories any more than they’re going to stop shoveling money into their mismanaged big-city vote plantations, you’re nutz.

    I, like Lucifer, diligently paid off my college loans ahead of schedule. After the first semester of college, my parents told me that they could not afford 4 years of similar costs, and took me off the dole. I was left to my own devices to figure out if I could afford it myself. I ended up with a combination of Pell grants, work-study jobs and state sponsored Guaranteed Student Loans (GSL) @ 7% simple interest, over the next 10 years. Upon my graduation, I was notified that I would begin paying back my loans 6 months after graduation, job or no job. Fortunately, I was offered a job after 5 months of searching. My salary allowed me to pay off my loans in 8 years.

    I guess I’m just a sucker.

I suspect such an order would constitute a de facto appropriation without underlying congressional authority.

If the funds haven’t already been appropriated, the executive branch can’t spend them.

“You can’t be anti-racist if you’re anti student debt cancellation,” Pressley wrote.”

“Unless you agree to give me everything I want now and everything I might want in the future, you’re a dooty-head!”

Yeah….. No, Hell no.

The DoD offers an option for recruits to have all or a considerable percentage of their debt to be played off as an enlistment option. This occurs on the ‘anniversary date’ of the enlistment contract each year.

Any effort to expunge student debt for everyone will erode the current and future value of that recruitment tool. Additionally it will undermine the current GI bill and tuition assistance programs.

Finally, it would be an, unsurprising, slap in the face to Veterans who chose to reenlist on the basis of transferring their earned benefit of the GI bill to their children or spouse. Please tell me where I can get those years of service back and the injuries sustained during that service negated?

Not to mention the parents and grandparents who dutifully defered immediate gratification, choosing instead to save and invest funds for their children and grandchildren education. What provision will be made for that?

What of the students who simply decided that an expensive degree from an exclusive institution was not worth the debt? They instead attended a JR College then transferred to State U, graduating with little or no debt?

What provision will be made to recognize and reward the past actions of the prudent? None I expect.

    Another Voice in reply to CommoChief. | April 14, 2021 at 2:44 pm

    As a retired conservative Senior living on minimum amount of retirement reserves in order to assist my daughter with two sons in college, I ask, what the hell happened to the virtues we were raised with and we have tried to pass along?

    The answer I came up with, the two consecutive terms of democrats starting 1962 and 1964 of Kennedy and Johnson and the new social ” Great Society” legislation and re-distribution of tax dollars. Well 50+ years later we see the results of those who subscribed to the democrat party and now again turning the screws on the workers who have paid for it then and will again. Given that every democrat and generational young adult is advocating for more, more, more, what will be the cost for their Grandkids in 2075?

Very insulting to those of us who paid off our student loans and the loans of our kids. I demand a refund — responsible adult reparations.

Font Resize
Contrast Mode
Send this to a friend