Biden Again Under Pressure to Eliminate Student Loan Debt

by admin

Biden is in the middle of embarrassing every single person who voted him into office right now. With all the issues this president has caused, there’s no one who can look at what’s happening right now with immigration, the economy, foreign policy, etc., and say it’s all good.

Despite what the White House claims, criticism of Biden is not just from Republicans. Independents in polls have noted their displeasure with the president. Meanwhile, even some Democrats have called out Biden on the treatment of migrants at the border and other issues.

One area where Democrats view the current president as falling short is student loan debt. Democrats want Biden to do away with student loan debt and are renewing their urges for this, as Fox Business reports.

Democrats on Student Loan Debt Erasure

Right now, Democrats are of the view that President Biden should axe off $50,000 worth of student loan debt from each person who owes the government money. Senate Majority Leader Chuck Schumer admitted as much during a public speech before the State of Student Debt Virtual Summit.

During this virtual summit, the leading Senate Democrat explained that Biden could change countless people’s lives by erasing student loan debt by a “flick of the pen.” Schumer furthermore alleged that the 46th president does not require any sort of congressional approval to make this happen.

However, Schumer’s claims that Biden can do this with the mere stroke of a pen counter claims from Nancy Pelosi, another top congressional Democrat. According to Pelosi, only Congress has the power to do what Schumer talked about during the student loan debt summit.

However, Pelosi has noted that the president has within his power to postpone student loan debt, but he cannot unilaterally forgive it. Right now, it appears as though the White House’s views align with Pelosi’s over Schumer’s. Biden has made no moves to strike down $50,000 in loan debt from borrowers.

Not Thinking Ahead?

The Democrats calling for Biden to strike down student loan debt are apparently not thinking too far ahead. If the president were to do what certain members of his party are urging him to do, then there would be a real issue with whether or not banks give out loans in the future.

As many people can imagine, a lack of access to any type of loan would hurt many students in the future. The reason loans are given out is because the lenders know they will make money back via interest payments lasting for years, if not decades.

What do you think about mixed leftist messaging on whether or not the president has the power to strike down student loan debt on his own? Sound off below in the comments section.

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