The Partisan Divide on Issues

[David Horn]

(05-25-2021, 01:39 PM)Eric the Green Wrote:

(05-25-2021, 09:34 AM)David Horn Wrote:

(05-24-2021, 09:56 PM)Einzige Wrote: Hahaha

Biden just said he wasn't going to cancel student loan debt.

At all.

What a worthless Reaganoid he is.

To cancel it, the debt needs to be absorbed by the government.  To do that, a spending bill needs to be created, passed by both houses and signed by the President (not likely in this environment) or the funding needs to be transferred from another source.  Any suggestions that would pass muster (i.e. the transfers need to be legal).

I wonder if such debts can be held to be unfair and just cancelled without the government paying for them.

Some can, I think.  Much of the school debt is really exorbitant interest layered on too high debt.  If the student or former student held the loan in abeyance while attending grad school or working an internship prior to getting a real job, the accrued interest may be huge.  Zeroing the interest and only repaying the principal might legal in those cases.