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U.S. House Rep Alexandria Ocasio-Cortez is furious once again. What else is new, right? But I digress. Apparently, Joe Biden is looking into canceling student loan debt to the tune of $10,000 per borrower for those who make less than $150,000 a year.
One thing AOC said is right, it will indeed anger many on the right-wing. Personally, as a responsible person who pays my bills and taxes, I see no upside, as this could increase inflation, while not helping my family out whatsoever.
That is my opinion of course. It appears the plan could end up being more or less, and it’s hard to say what will happen and what the after-effects may be to a struggling economy already fighting off rampant inflation due to easy money policies by the fed. So it’s funny to us that AOC agrees that it will anger “the opposition” but still isn’t enough.
So in other words, she wants to anger the right-wing far more than they already are. AOC quote tweeted someone else, also complaining about not getting enough free money from the government, and she said:
“$10k means tested forgiveness is just enough to anger the people against it *and* the people who need forgiveness the most. $10k relieves most the people who owe the least. What relief is there for the most desperate? For them, interest will undo that 10k fast. We can do better.”
$10k means tested forgiveness is just enough to anger the people against it *and* the people who need forgiveness the most.
$10k relieves most the people who owe the least. What relief is there for the most desperate? For them, interest will undo that 10k fast. We can do better. https://t.co/HhfWbeCf0v
— Alexandria Ocasio-Cortez (@AOC) May 27, 2022
Business Insider reported in part:
Biden appears to be coming closer to a final decision on his long-awaited student-loan forgiveness plans. He pledged on the campaign trail to approve $10,000 in relief for federal borrowers, and while many progressive lawmakers have been pushing him to cancel $50,000 — or even all — student debt, he appears to be sticking with a more modest and targeted amount.
There is political momentum for that amount: A Data for Progress/Rise poll of 2,066 voters in key battleground states found that 45% of them would be somewhat or much more likely to vote if the president were to cancel $10,000 for every federal borrower.
We will be staying tuned and see if Mr. Biden kowtows to AOC’s fury.