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January 1, Biden Mulling Student Debt Cancellation of $10K Per Borrower
ON THIS DAY IN HISTORY…
1789: George Washington is inaugurated as the first President of the United States of America.
President Joe Biden plans to move forward with student loan debt forgiveness, with sources saying he’s considering executive action to cancel at least $10,000 per borrower.
According to Bloomberg, which first reported the news, the move comes as Biden looks for ways to increase voter enthusiasm ahead of the midterm elections.
Biden has said that he’s not open to the $50,000 in debt forgiveness that many Democrats have called for.
“I am not considering $50,000 debt reduction, but I’m in the process of taking a hard look at whether or not there are going to be additional debt forgiveness,” Biden said, adding that he’ll have an answer “in the next couple of weeks.”
While some of Biden’s critics say $10,000 isn’t enough, others say it’s too much and will worsen the already devastating inflation.
“Desperate polls call for desperate measures: Dems consider forgiving trillions in student loans,” Sen. Mitt Romney (R-UT) wrote on Twitter. “Other bribe suggestions: Forgive auto loans? Forgive credit card debt? Forgive mortgages? And put a wealth tax on the super-rich to pay for it all. What could possibly go wrong?”
Source:
Biden Eyes Student-Loan Forgiveness Starting at $10,000
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2004done
April 30, 2022 at 8:23 am
“What could go wrong?” Although in THIS post, Mittens (as always) SEEMS to be saying what we want to hear, I know he speaks out of both sides of his butt [AKA trust RINOs at OUR OWN peril). He constantly reminds me that I had little choice when I voted for him
merryinfidel
April 30, 2022 at 8:49 am
Wow, I’m shocked! Mitt Romney actually said something that made a little sense. I actually had to read it twice to make sure I wasn’t hallucinating…
Leslie
May 1, 2022 at 2:57 am
I think the outrageous interest rate should be canceled on student loans, but the loans were taken and people should learn to be responsible for what they borrowed. People have been responsible for paying off their loans for decades, it would be unfair to pay off these loans at taxpayers expense, if these are forgiven they’ll just run out and run up more loans, be back at square one.
The problem is with interest rates being the highest on student loans compared to personal loans.
Be responsible for your actions!