Biden is busy back peddling promises behind the backs of his liberal supporters. One of the biggest things that propelled him through the last election was his alleged support to eliminate student debt. Well, more bad news for those in debt.
After several weeks of teases in the media for up to $50,000-per-person of student debt being eliminated, the new White House press secretary disappointed the debtees once again when asked about Biden’s plans on the issue….He doesn’t have any still!
“We have no policy to announce yet but as a reminder no one has been required to pay a single dime of student loans since the president took office.” White House Press Secretary Karine Jean-Pierre told reporters on Air Force One Tuesday morning.
She followed up by insisting studies have proved that the pause in student loan repayments are a minor factor in the current inflation crisis. “I do want to state that Jared Bernstein has spoken to this before,” Jean-Pierre said. “And he’s mentioned that the impact on inflation by pausing federal loan repayments would be almost negligible, in his words. Something like 0.001 percent.”
On April 28th, Biden made it clear the $50,000 cancelation was off the table. However, he did put himself into another bind by promising that he was “in the process of taking a hard look at whether or not there will be additional debt forgiveness” and that he would have an announcement on it in the “next couple of weeks.”
On May 3rd, Jen Psaki, Biden’s previous Press Secretary, backed up the President’s pledge by suggesting the debt forgiveness would only apply to people making under $125,000 per year.
Psaki told reporters on Air Force One. “Well, the president talked, back on the campaign, about taking steps or looking at steps to help people making less than $125,000 a year, so that is the frame through which he’s considering – making considerations at this point.”
It is still unclear what Biden plans to do to offset the huge amount of debt or how they decided that $125,000 as a blanket cutoff point was fair. Do you think he will actually end up keeping this pledge, even in a small way, or is it political fodder?