"The Squad" Urges Pelosi To Include "One-Time Universal $30k Student-Loan Cancellation" In Next Relief Bill and let the tax payer get stuck footing the cost
"The Squad" Urges Pelosi To Include "One-Time Universal $30k Student-Loan Cancellation" In Next Relief Bill
A group of Democrats - whose mostly white, middle-class, college-educated supporters who derive most of their understanding of contemporary politics and the economy from memes - is pushing House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy to include a "universal, one-time, student loan debt cancellation of at least $30,000 per borrower in the next round of COVID-19 relief legislation."
So-called Democratic socialists love to drone on about how policies like universal health-care and student loan forgiveness are "popular" (that is, according to several questionably worded surveys), but the truth is, the overwhelming majority of Americans aren't currently paying down student debt. Fewer than 45 million Americans - that's less than one-third of working-age adults - are student loan borrowers, and they share nearly $1.5 trillion in debt.
Reps. Ilhan Omar, Ayanna Pressley, Alma Adams and 28 other lawmakers have all co-signed a letter urging the leadership to turn on the money spigot that only rewards Americans who are already mostly white, mostly middle class and mostly fine.
We'd love to hear the explanation why they're calling for the forgiveness of student debt, not any other types of consumer debt, like mortgage debt (for homes) or credit card debt (for food...and all those vacations you couldn't afford).
Simply forgiving the loans would do nothing to change a system that produces over-indebted students (and one component of changing that system needs to be consumers taking responsibility for their choices and thinking twice before signing up to get that masters in anthropology, or comparative lit, or gender studies).
President Trump said earlier this afternoon that he couldn't be sure when Congress would get around to passing another coronavirus relief bill, or even if there would be another bill.
But that didn't stop Ilhan Omar from hopping right up on that soapbox to talk about how we should just hand out money to all Americans in perpetuity - except landlords, because Karl Marx said they're evil - just keep the money spigot running until a vaccine is ready and available for all.
We’ve lost 25 million jobs in 2 months, 3 times the entire Great Recession.
House leadership needs to deliver for the PEOPLE.
We need to be bold in meeting the needs of the American people:
- Universal monthly payments
- Fully fund healthcare for all
- Cancel Rent/Mortgages
— Ilhan Omar (@IlhanMN) May 8, 2020
Until then, nobody's allowed to go outside.