Fucking hate the Imperialist Democratic Party, and think there’s basically no chance they’ll actually pass meaningful student debt relief under Biden.
But a universal vanquishing of the first $50,000 held in student debt by graduates will meaningfully improve the conditions of tens of millions of Americans; for both graduates, and those who did never attended a post-secondary institution alike.
57% of Americans support “forgiving up to $50,000 in student loans for individuals who live in households that make less than $250,000 a year”, including a majority of those who never attended a College.
This just seems rich considering Chapo often mocked liberals who were incapable of admitting that Trump can do good things at times, and now they may fall into the same trap of opposing on instinct everything coming from the Biden camp.
Actually people should keep suffering, because stopping it with the stroke of a pen would alienate the working class
Stupid take. literally what people would hit bernie with in the primaries and matt brushed it off then so i dont get it. Is it just bad because its the libs that are doing it? Isn’t that what we want?
I think his point is that it’s not absolute debt forgiveness. Some Doctorial/Master’s students are WAY beyond the $50,000 forgiveness. It helps, but it’s a “band-aid” for the degree mill problem.
Matt is saying the student loan forgiveness will alienate people without student loans. He is not saying there should be complete forgiveness.
It is hilarious to see Matt oppose bedrock policies of the Bernie campaign because it is coming from the Biden team. Wealthy social democrats are something else, this is all a game to them lmao
Matt is saying the student loan forgiveness will alienate people without student loans.
…Well, in that regard: He’s not necessarily wrong. I mean look at how the GOP tried to hammer tuition-free college as a pipe-dream/“SOCALISM!!!” boogeyman and the chuds bought into it. With his “realignment” theory, if the non-college folks (majority being CHUDs in this case, but that’s highly unlikely) go GOP, it stands to reason the GOP and their base (the non-college folks) would be pissed about it.
I don’t think it’s an out there logic, personally. Because I can see where he’s coming from, even if I don’t necessarily 100% agree with his logic/theory on it.
Matt’s on a kick with his new theory that there’s going to be a political realignment where the Dems only appeal to college grads and the GOP to non-college grads because the parties will soon be/already are divorced of any material differences so it’s all aesthetics anyway. I kinda see how he gets to this take from that idea but this is a stupid take regardless
I think it’s stupid if you view it as the most defining feature of the future dividing dichotomy of US electoral politics, but I do think it’s becoming way, way more salient asa cultural divide. To be charitable to Matt, I think he’s working this theory out in public, versus presenting a refined version.
It’s not a bailout plan for Colleges lol, they’ve already got the money from Student Loans. 92% of Student debt is held by the Department of Education.
It is a popular policy among a majority of Americans, as you can see in the poll I linked at the top. A majority of both College Graduates, and those who never attended support Student Loan forgiveness.
Two thirds of High School grads these days go on to University, it’s not some sort of boutique PMC only issue as you portray, a University degree is increasingly becoming as necessary as a High School Diploma in the modern workplace, and it’s not great that it near universally necessitates a great deal of painful debt.
A similar percentage of American households rent as hold student debt. Therefore both issues most be wholly unimportant, and literally only matter to City Dwelling PMC Libs.
If Joe Biden forgives my student loans I will say thank you one (1) time before immediately and ceaselessly dunking on him again.
The President straight up does have the power to cancel all Federal Student Loan debt , which is 92% of student loan debt. Biden won’t do it, but he is able to.
A singular forgiveness of debt without a massive restructuring of how college loans work would be an absolutely idiotic policy. It would help an enormous amount of current college grads but alienate even further non-grads and all future grads. Peak dem “progressive” policy.
It would also act as immediate economic stimulus, decrease unemployment, and improve public health by decreasing rates of depression and suicide. Furthermore, a majority of graduates and non graduates alike already support it. Debt is incredibly economically, and socially harmful, and eliminating it whenever possible is good policy.
http://www.levyinstitute.org/pubs/rpr_2_6.pdf
Though clearly debt relief would be far better if combined with Free Public College going forward, and obviously; a massive jobs programs/Medicare for All/ GND/whatever else nationwide.
The idea thing to do would be to also forgive a shitload of consumer debt too.
Shame they can only forgive debt they own. If only they could buy the credit card debt for dirt cheap by leveraging bailouts.
Maybe buy a trillion dollars worth of debt for 10 billion.
At that point you wouldn’t even need to forgive it. 50k in credit card debt is crushing. 500 dollars that you owe the government on a long term low interest loan? meh.
The absolute minimum penalty for 2008 should have been the housing market being unceremoniously yanked out of private hands.
My income has been cut in half during covid. It has not recovered yet at all. Not paying nearly $400 a month in student loans has been the only thing keeping me and my family afloat at all. If those loans didn’t get deferred I really don’t know what I would have done.
I know this isn’t as good as a stimulus check for everyone but fuck I would really like to have one thing off my back. I would genuinely be grateful. And the next day I’ll go right back to bashing Biden for being generally shitty. This action would help so many people though. Hopefully it would have something for people currently accumulating student debt and future college students.
