Since no one apparently read the article, it's the Democrats doing this.
The Debt Collective named Sen. Chuck Schumer (D-N.Y.), Rep. Hakeem Jeffries (D-N.Y.), Sen. Maria Cantwell (D-Wash.), Sen. Tammy Duckworth (D-Ill.), and Rep. Rick Larsen (D-Wash.) as particularly responsible for the language.
As to the auto industry bailout, would you rather have had a major American industry simply collapse?! Don't know about the others, but Chrysler paid it all back, with interest, years ahead of schedule.
Isn't the point of our government to break up industries to big to fail so things like this don't happen? Congratulations you solved a problem that your institution is supposedly designed to prevent.
The average American were the main ppl who lost their houses and jobs and got jackshit back from those bailouts. (Besides a measly 20 billion back from the bank bail out. Our government budget is in the trillions)
No one is saying forgive 1.7 trillions tomorrow but it is MORE than possible to forgive that much debt over time and recoup it. Especially since as soon as that debt is gone ppl will buy shit like houses, take out loans for businesses, and have kids which all add economic value and tax revenue.
That profit worked out to be about 0.6% rate of return on a loan to failing businesses on the verge of bankruptcy. Do you know anybody on the verge of bankruptcy who's ever received a loan with rates like that?
Taxpayers would have been better off holding onto the company stock and receiving a portion of the profits today.
The Debt Collective named Sen. Chuck Schumer (D-N.Y.), Rep. Hakeem Jeffries (D-N.Y.), Sen. Maria Cantwell (D-Wash.), Sen. Tammy Duckworth (D-Ill.), and Rep. Rick Larsen (D-Wash.) as particularly responsible for the language.
I mean, that's one interpretation, but Biden's initial stab at cancellation probably wouldn't have happened without Schumer getting on board and making it less just "Warren calling for stuff she wants". Harder to dismiss it as progressive fringe when the majority leader keeps calling for it.
My interpretation is that them being "responsible" is just a list of the Democratic leaders in each chamber and the expected sponsors rather than them actually making the edit. Flood their phone lines for sure, because they're the ones who can shut it down (and arguably should have noticed and shut down without needing outside watchdogs), but I think it's pretty obvious this was a Republican insertion. Even if they didn't believe in debt cancellation, it's still a good campaign issue for them and they could just rely the courts and filibuster to block their performative efforts.
They want indentured servitude. The reason they want to make this illegal is that airlines will have people sign contracts for "free" education in exchange for abusive work commitments. If they forgive student loans, then these airlines can no longer force people to stay in their jobs... also don't be surprised that it is Democrats writing these laws. Just look at what Biden did when it came to railroad worker unions.
First it will be airlines, then it will be schools trying to force teachers into indentured servitude.
I get it but that's a bad example. Biden worked with Sanders and gave the railroad workers everything they asked for. It just didn't make headlines because it happened like a week after the media decided to move onto something else.
Biden worked with Sanders and gave the railroad workers everything they asked for
Categorically false. The NLRB worked with the unions to achieve SOME of their completely reasonable asks but not all and nowhere near as much as they could have gotten if Biden hadn't told Congress to take away their most effective weapon and force them to fight with one hand behind their backs.
It just didn't make headlines because it happened like a week after the media decided to move onto something else.
It made it into the body of countless propaganda articles giving Biden undue credit for the work of the NLRB and not giving him the blame he's due for taking away their right to strike, though.
For all his "middle class Joe" posturing, when push comes to shove he's on the side of the rich people and industries handing out legal bribes to him and his buddies every time.
These are all lies except that he took away their strike. That was wrong for sure. But in the end they got everything the union had asked for.
Of course it was reported but it didn't get the attention it deserved. It's absolutely valid to complain that he stopped the strike and should have made a big deal about giving them what they asked for immediately. However, it was made right eventually.
language included in the 2024 Federal Aviation Administration Reauthorization Act that could pave the way toward banning student loan cancellation.
The current draft of the routine bill [bars] executive branch officials from cancelling or forgiving student loans taken out to pursue flight training or education at the undergraduate level, the Debt Collective warned on Wednesday.
It’s like republicans are actively trying to lose in November.
I keep telling folks, but the 118th Congress, the current one, we have so far 46 bills that have made it to law. The only one that really made a big difference was Pub. L 118-5 which ended officially the student loan repayment pause and ended some enhanced benefits of food stamps, SNAP, free lunches, etc.
The other 45 bills have been mostly bumps to the debt ceiling (and of course the small "benefits" Republicans reaped in those), a 250th anniversary of the Marine Corp collection coin (because Congress has the power over the treasury, that's one of the things they do), renaming post offices (Congress has power over the post in the Constitution), some bumps to VA funding, and that's about it.
The small wins they got in avoiding the fiscal cliff aren't exactly massive bangers. I mean compared to say the 117th Congress, the one before this one, that hammered out 362 laws with hits like the Inflation Reduction Act, the CHIPs act, and so forth. There's just been nothing like any of that in this current Congress.
And the 116th Congress gave us 344 laws, navigated a pandemic, AND got two impeachments out the door.
The Republicans have shown, they've got nothing. We literally have on record them as doing nothing. This has been the least productive Congress in modern history. They have literally set a brand new record for number of times it took to get a speaker and for the least amount of work done EVER.
And they'll still win because "woke bad" "GeNoCiDe JoE" and a healthy dose of "the vast majority of Democrats in office are conservative and we hate it."
Trump isn't in office for people to be mad enough to get him out. Apathy will run rampant this time, people are already sick to their stomachs of all things political lately.
I'm not looking forward to project 2025 being implemented... I've always despised organized religious zealots but it looks like they're going to get to steer the ship going forward...
It’s like republicans are actively trying to lose in November.
Um, did you stop reading at the second sentence?
The Debt Collective named Sen. Chuck Schumer (D-N.Y.), Rep. Hakeem Jeffries (D-N.Y.), Sen. Maria Cantwell (D-Wash.), Sen. Tammy Duckworth (D-Ill.), and Rep. Rick Larsen (D-Wash.) as particularly responsible for the language.
I don't have any love for the GOP, but this particular bit of "fuck you" is from neoliberal Democrats. They need replacing. Not with Republicans, but with better Democrats.
to be completely fair, while it's obviously the correct choice between the two, the democratic party isn't exactly a shining beacon of social justice either.
Was it? Ted Cruz and Jerry Moran are also cosponsors.
I don’t know how to see who added what to a draft, but this does have bouquet of Cruz to it. If someone told be his office snuck it in, I wouldn’t be surprised.
The Debt Collective named Sen. Chuck Schumer (D-N.Y.), Rep. Hakeem Jeffries (D-N.Y.), Sen. Maria Cantwell (D-Wash.), Sen. Tammy Duckworth (D-Ill.), and Rep. Rick Larsen (D-Wash.) as particularly responsible for the language.
Cosponsors: Cruz (R), Duckworth (D), and Moran (R)
Three of those people have a past of supporting student debt relief legislation at some point, one does not. One actively campaigns against debt relief in public. That is Ted Cruz. I’m not saying he or his aids did it, but I’d probably start there.
