Bernie: Dems are ‘RIGHT’ to criticize Biden’s student loan ploy because it could have gone ‘further’

Bernie Sanders backs Democrats critical of Joe Biden’s ambitious student loan forgiveness plan with the progressive claim that it doesn’t go far enough to address the massive debt ceiling.

While most mainstream Democrats are urging President Biden to leave behind Americans who don’t benefit from the relief plan, more progressive members say the plan is insufficient to contain the student loan crisis.

“Well, the truth is, in a way, criticism is right,” Sanders told ABC’s This Week on Sunday morning.

The Vermont Independent Caucuses with Senate Democrats.

Sanders claims the relief will disproportionately benefit those in higher income brackets, but the Biden administration insists that the bulk of people receiving blanket forgiveness are those earning less than $75,000.

Biden on Wednesday announced a waiver of up to $10,000 for borrowers who make less than $125,000 individually or $250,000 combined. Those with Pell Grants are eligible for $20,000 in federal student loan debt, which will be eliminated in Biden’s new plan.

It is estimated that the relief will cost American taxpayers as much as $600 billion over the next decade, and a separate analysis finds that individuals – even those who did not benefit from the enactment – ended up paying more than $2,000 in dollars will pay to pay off the debt.

Progressive Senator Bernie Sanders said Democrats were right to be upset about President Joe Biden's student loan plan - but claimed they should be angry it doesn't go far enough

Progressive Senator Bernie Sanders said Democrats were right to be upset about President Joe Biden’s student loan plan – but claimed they should be angry it doesn’t go far enough

The Penn Wharton Budget Model at the University of Pennsylvania Business School found in a report last week that the majority of the relief would benefit borrowers who are in the top 60 percent of earners.

“The answer is maybe, just maybe, we want a government that works for all working people and not just the people at the top,” Sanders said Sunday.

“The answer is not to do what Republicans want to do,” the progressive senator added. “Oh, it’s unfair to that person because we’re helping that person.” Perhaps the answer is to create a government that works for all people, not just the wealthy campaign workers.’

Republicans’ biggest criticism of the plan is that it’s not fair for Americans who haven’t gone to college or worked hard and planned accordingly to be able to pay college or pay their debts on time.

The GOP claims these Americans are being penalized for sound financial planning.

Some Democrats also agree with this view.

Democratic Rep. Tim Ryan, who is running for the open Senate seat in Ohio, said in a statement last week that Biden’s relief plan “sends the wrong message to millions of Ohioans who don’t have a degree that works just as hard to make ends meet.” come”.

Biden announced last week that his administration was canceling $10,000 to $20,000 in federal student loans for borrowers earning less than $125,000. Progressives immediately claimed it hadn't gone far enough, and mainstream Democrats said it was unfair to those who worked hard to pay off their loans or didn't go to college

Biden announced last week that his administration was canceling $10,000 to $20,000 in federal student loans for borrowers earning less than $125,000. Progressives immediately claimed it hadn’t gone far enough, and mainstream Democrats said it was unfair to those who worked hard to pay off their loans or didn’t go to college

Biden's plan was related to the fifth and final extension of the federal student loan repayment moratorium, which will end in January 2023

Biden’s plan was related to the fifth and final extension of the federal student loan repayment moratorium, which will end in January 2023

The answer to the debt crisis, according to Sanders, is “not to refuse help to people who can’t cope with this horrendous student debt”.

Maine Representative Jared Golden said in a statement on forgiveness, “This presidential decision is not consistent with what the majority of the American people want from the White House, which is leadership to address the most immediate challenges facing the country.” faces. ‘

One of the most vulnerable Democrats in the House of Representatives, New Hampshire MP Chris Pappas, also criticized Biden’s decision.

He said the move “bypasses” Congress and insisted it would do little to solve the core problem of “higher education affordability”.

The forgiveness announcement came at the same time as Biden announced the fifth and final extension of the federal student loan repayment moratorium, which was previously scheduled to end on August 31, 2022.

The extension, the administration noted, is the last of the pandemic — and student loan payments will resume in January 2023.

Outstanding loans and accrued interest were suspended in March 2020 with the start of the coronavirus pandemic.

https://www.dailymail.co.uk/news/article-11156923/Bernie-Dems-CORRECT-criticize-Bidens-student-loan-ploy-couldve-gone-further.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Bernie: Dems are ‘RIGHT’ to criticize Biden’s student loan ploy because it could have gone ‘further’

Bradford Betz

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