The point was not about debt. It was Schumers alleged attempt to legislate with the EO instead of going through congressional legislation. I also understand the original report by the OP could be false.
Welcome to the new normal. Once McConnell refused to work with Obama, at all, this became how legislation happens with a divided govt.
I think everyone wants to solve student debt as a problem. Its not easy because cost of education becomes a part of the discussion, and great higher education systems is what makes the US so competitive in the world market. Yet it has become so expensive nowadays that people are choosing to go after cheaper educational sources. How do we preserve it when information has become so freely available?
How about if a company leaves to avoid taxes they are restricted from selling to the US market which is a much bigger loss in revenue than what they would lose to the tax increase.
First, Schumer is an idiot..... so I don't really care what he thinks the President is going to do. Second, student loan debt is a massive problem in this country, it is a bubble and it will burst. So it is better to be proactive and address it. A large part of the problem is that with the loans backed by the government, tuition has gone up greatly over the last 30 years. Schools can and do charge more and do a lot of "improvements" that really are not necessary and do not really improve the learning experience. Most of Biden's plan is very reasonable. As for the increased minimum wage to $15, it needs to be based on a mathematical formula that includes inflation as it has been in the past. The increase in minimum wage has not increased with inflation over the last 40 years. So there need to be changes made. I have seen people saying a standard minimum wage of $15 across the country is a bad idea. I am fine with it being based on inflation with a floor (of lets say 10-11). However it is a problem. I don't want to hear any complaining about executive orders after what we have gone through the last 7-8 years.
They don't have to leave the country to export labor, just open another office. Cost of operations, the transition cost, and transport cost are the only difference.
I'm not understanding this 7-8 years and why that should allow Biden to just go on a spree with executive orders.
The rest of your post is good stuff. This is BS. The abuse of the EO over the last couple decades is BS. To simply stand by and excuse the abuse is not ok. I didnt vote Biden so we could have Trump or Hillary lite. It seems you're perfectly fine with status quo.
Well I guess we'll probably just have a government that won't pass any meaningful legislation for the foreseeable future. Let's see if Mitch acts in good faith. Do you think he will? Do you think if Biden and Pelosi propose sincere compromise on bills that Mitch would play along?
There is absolutely no reason for ANYONE to be against affordable and quality education for our kids. It is one of the best investment you can make for your country's future. I hope Biden follows through with this.
Haven't read too much into it, but I hope the debt cancellation is not only inevitable, it's also sweeping. Undergrad debt, graduate school debt, professional school debt, etc.
Some people work their way through school so they don’t have a huge debt. Also, some people choose a school that is less expensive so they won’t have a large debt. Are there any rich kids that went to expensive schools and took out large loans and now want their debt excused? I imagine there are some people who have a lot of student loan debt that make a lot of money, live in nice homes, and drive expensive cars. They probably could pay their loans down, but they choose to spend their money on other things.
In my opinion, it's much more relieving to not need to set aside a certain amount of money each month just to pay off student loan debt. I'd rather all of my student loan debt be cancelled and have more money come out of my paycheck every 2 weeks, than be burdened with the pressure of paying for school, but getting more money every 2 weeks.
That brings in a whole new area of discussion. By eliminating student debt, the student is now free to focus on their studies - should be the intended result, anyway. Better focus -> better grades. Better grades -> more competitive for job opportunities. To your second point, students are now free to attend the college they want, not the one they're pigeon-holed into because they don't want the burden of debt.
