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Biden is blowing it by making student-debt repayment a priority

Anybody on the lookout for a succinct abstract on the dystopian state of pandemic-era America might do worse than the Sprint for Money.

JUST IN: An area in South Dakota is holding a “Sprint for Money” the place lecturers get on their knees and struggle for one greenback payments that they will use for classroom provides whereas spectators watch and cheer. (h/t @AnnieTodd96) pic.twitter.com/jIht84Ls9W

— No Lie with Brian Tyler Cohen (@NoLieWithBTC) December 12, 2021

On Saturday, December 11, an interlude throughout a junior ice hockey sport at South Dakota’s Premier Heart featured cash-strapped lecturers scrambling for his or her share of $5,000. They obtained down on all fours, earlier than a whole area, and scooped up as a lot money for needed faculty provides as they may collect. Video of the unhappy spectacle went viral over the weekend, highlighting the determined want for funding in America’s schooling system. However overhauling that system doesn’t appear to be a excessive priority for the present administration. The Sprint for Money did occur to coincide, nonetheless, with an asserting about what is thought-about a excessive priority for Workforce Biden so far as schooling is involved.

When requested by a press scrum about the student loan payment pause set to run out on February 1, White Home press secretary Jen Psaki Psaki gave the next response:

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“Within the coming weeks, we’ll launch extra particulars about our plans, and can have interaction immediately with federal student-loan debtors to make sure they’ve the sources they want and are within the acceptable repayment plan. We’re nonetheless assessing the affect of the omicron variant, however a easy transition again into repayment is a excessive priority for the administration.”

Not solely did Psaki verify that the president is tired of holding debt fee at bay any longer for college students struggling within the pandemic, she emphasised the urgency of these college students resuming repayment as quickly as doable. The announcement of this sprint for scholar money appeared to strike progressives as not merely in poor style, however downright offensive.

Psaki on the scholar mortgage fee pause that expires in Feb- “A easy transition again into repayment is a excessive priority for the administration.”

This is their “excessive priority.”
Simply F all the way in which off.

— Thia is with … ????✌️???????? (@ThiaBallerina) December 11, 2021

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The most recent information appears to make clear, although, that debt cancellation is not what Biden desires, however slightly he wishes “a easy transition again into repayment.” Biden’s evolving place on the matter now appears much less like a rollercoaster journey than a standing-in-front-of-a-movie-screen-projecting-a-rollercoaster-ride.

Maybe the explanation that Biden has chosen to not lengthen the pause on scholar mortgage any additional is for the sake of appearances. It might be a present of drive, signaling to conservatives that rumors of a social-spending bonanza have been enormously exaggerated. With the press hammering him daily on inflation, it’s a technique to exhibit fiscal accountability.

Nevertheless, if his student-loan resolution is meant as a present of drive, it’s pointed within the fallacious path. College students saddled with debt within the pandemic are additionally at the moment coping with rising costs on the pump. In the meantime, it looks as if the administration would possibly discover extra money in chasing down suspicious PPP loans, and taxing the billionaires whose wealth grew to $10.2 trillion during the pandemic.

Both method, this administration contemplating student-loan repayment a excessive priority whereas dragging its ft on voting rights and lots of different points is much less a sprint for money than a race to the underside.

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