Apparently Biden is Now Considering Cancelling Student Debt.
As some of my critical readers have pointed out, I sometimes sound like a broken record when it comes to my thoughts on Joe Biden, and his handling of issues such as the $15 minimum wage, Medicare for All, his approach to dealing with Republicans and of course, the cancellation of student loan debt. Considering these are some of the topics I care about the most, naturally I’m going to be following and discussing the developments surrounding them. That said, recent reports seem to indicate that the President is at least appearing to shift his position on using his executive order to cancel $50,000 in debt, a move that a number of his fellow Democratic lawmakers support. Among those lawmakers is the Senate Majority Leader, Chuck Schumer.
With Chuck Schumer now leading the Senate and also happening to have an upcoming re-election campaign to worry about, he seems determined to keep the pressure on the President to use the power of the executive office to deal with the debt crisis. After months of wringing his hands and questioning the extent of his power, Joe Biden has finally instructed his Secretary of Education to look into his ability to ease the debt burden for millions of Americans.
If Biden is in fact serious, I will be the first to admit my pleasant surprise and give him credit. It should go without saying that doing so would bring about not only financial, but psychological relief for everyone struggling with the crushing weight of debt that many will likely never be able to escape if something doesn’t change. It is exactly the sort of bold, necessary action the left has been pushing for, and it’s refreshing to see mounting pressure from both lawmakers and advocates beginning to work.
At least, it’s a step in the right direction.
But, as is the case with virtually every move from a politician, we should believe it when we see it.
The very nature of American politics could lead one to believe that this is nothing more than a move to placate the demand for action, buying him time to find an excuse not to do it. The business, corporate interests certainly have every incentive to be strongly opposed to this type of action. For one, private…