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

  • lad [none/use name]
    3·
    4 years ago

    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.

    • T_Doug [he/him]
      1·
      4 years ago

      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.

      • anthm17 [he/him]
        ·
        4 years ago

        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.