Biden Announces Plan to Cancel Some Student Loan Balances Under $12,000
Biden Announces Plan to Cancel Some Student Loan Balances Under $12,000
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It's like peeing on a house fire...
Might make you feel like something is being done, but it's not going to accomplish anything.
We'll see tiny little gains like this trickle out till the election, then Biden will go back to ignoring it.
So sure, it's better than doing literally nothing, but it's not doing enough.
Were you paying attention the last several times he's tried to do more and gotten blocked at every turn by people who can't see past their own gains?
He's not even being blocked by his own party this time.
Granted, they probably would have if he hadn't waited until they didn't have a majority.
They never really had majority with chinman and cinema
Excuses. Manchin and Sinema represented everything the party is about to absolute perfection.
What a narrow-minded and uninformed view.
They were the US' second conservative party's designated obstructionists, making sure that the ambitions the party pretends to have for votes were in no danger of coming to pass.
If the party ever moves to the left I'll change my assessment. Until then, Manchin and Sinema are the party.
The initial 20k goal was 430bil forgiven, that the SC knocked down.
His admins "peeing on a house fire" has forgiven 136bil so far in small 5bil/10bil awards, and thats before this. The above doesnt even take into account the huge improvements the SAVE plan brings, like setting interest to 0% while you pay on your loan, doubling the minimum income before you have to pay for means adjusted borrowers so that way more people pay $0/month, and allowing anyone in default to get trued up instantly.
136 billion isn't 430 billion, but its hugely, hugely more than any admin has ever forgiven student loans. Its disappointing it didnt reach the full scope, but its more than anyone has every done.
Man has pissed a lake onto a forest fire, but yall wanted him to piss a river into a volcano and he couldn't get it done, so suddenly "he hasent done anything."
Fuck all that.
This!
For Biden's faults, what his team has done for borrowers has been great to the people who need it the most. Even in the face of the GOP trying to stop them at every turn.
That attitude of All or Nothing really pisses me off.
"Oh, you had a goal to lose 100 lbs in a year but only lost 80? You might as well have not tried to begin with, loser."
Fucking stupid
You must not have read what's actually in the plan they put through. It also includes dramatically lowered payments for low income earners, eliminated interest if you make your payments, broadens forgiveness rules etc. etc.
It's mine boggling to me that Biden didn't get more credit for this plan. One time paying off of loans is a dumb short term solution. Actually changing the rules to help current and future borrowers is so much more important. https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/22/fact-sheet-the-biden-harris-administration-launches-the-save-plan-the-most-affordable-student-loan-repayment-plan-ever-to-lower-monthly-payments-for-millions-of-borrowers/
And this is what everyone was bitching about when he was trying to do the one time cancellation. "Well that won't solve the real problem!" And now he's doing something to address that, and it apparently still isn't good enough. It just shows why so many dissenters actually find it offensive, and that's because it helps people.