Posted on 12/07/2020 4:20:49 PM PST by 11th_VA
Senate Minority Leader Chuck Schumer (D-N.Y.) continues to urge President-elect Joe Biden to make cancelling some student debt a priority once he takes office next year, telling reporters this week that the incoming president could forgive as much as "$50,000 of debt the first day" he assumes power.
"We have come to the conclusion that President Biden can undo this debt, can forgive $50,000 of debt the first day he becomes president," he said outside his office in Manhattan on Monday, according to CNBC. "You don't need Congress. All you need is the flick of a pen."
The comment comes several months after senate leader introduced a plan alongside Sen. Elizabeth Warren (D-Mass.) calling on whoever won this year's presidential election to use their authority to cancel up to $50,000 in student loan debt for all borrowers with federal loans.
In an op-ed published last week co-authored by both senators, they maintain that, "Broad cancellation of student debt would give tens of millions of Americans $200 to $300 more to spend and save each month."
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President “everyone” but Biden, and the Right.
That should help out AOC, I think she still owes 20 grand or so.
I’m not a lawyer, but my BS meter says that the President does NOT have the authority to do that via an executive order.
I paid mine back in full over the course of ten years in the 90’s.
They better give me my money back too then.
“...President “everyone” but Biden, and the Right....”
Yep.
A shot up, old soup can has more going for it than Chairman Jao.
Schumer is trying to be president vicariously.
Talk about dictator.
Everything they accuse Trump of doing, THEY do, or are planning on doing.
They think everyone is just t like them.
I wonder how the moderate dems are going to like this.
Maybe we could for give their debt and then let democrat party donors pay.
Claw the money back from the colleges that took it.
The Constitution says we can’t be deprived of life, liberty or property without due process of law.
Laws can only be made by Congress.
An EO for $1.5 trillion. Yeah, I doubt he has the authority to do that but in this political environment who knows? We’re about to explore to outer limits of executive power.
If she hadn’t gotten into politics, AOC would have to steal tips until her dying day to repay her loans.
POTUS has no such authority to forgive SL debt.
Oh yeah send me my $50k check too!
I like it. I’ll enroll, take out a 50K loan, pay off debt and buy new cars, then get it wiped.
LOVE IT!
I remain confident that Schumer is only bloviating today because he knows the SCOTUS is going to lay down the hammer on the Democrat Crime Machine within the week.
Well President Trump should forgive all IRS debt!!!
Do it Trump, stick your middle finger in their goddamned eyes!
One of the dumbest ideas I’ve ever heard of. It will cause a revolt if implemented.
Schumer knows Biden might not be seated as POTUS and is trying to start a Civil War.
There is absolutely no reason for him to make that statement now.
Forgive under $5000 or even $10,000 for people who didn’t graduate...they’re the only ones who need it. Most of them were talked into it very young and can’t pay it now. The others just have to factor it into their bills.
Payments are low, lower than car payments unless you went to an insanely expensive school in which case you should have thought about it. But you got a better hiring salary out of it, you’re probably waiting on your inheritance, and I think you can come up with a few hundred dollars a month on your own. My daughter, who spent a lot of money on grad school for a career she hated and then abandoned, paid it all back. It’s just another bill.
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