AOC Explains Why Biden Canceling ONLY $10k in Student Debt is a JOKE

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The Humanist Report (THR) is a progressive political podcast that discusses and analyzes current news events and pressing political issues. Our analyses are guided by humanism and political progressivism. Each news story we cover is supplemented with thought-provoking, fact-based commentary that aims for the highest level of objectivity.

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[Sigmaairav]

The interest rates have kept my parents in permanent debt. There are no means available to generate enough money to pay off the ever increasing interest let alone chip away at the actual student loan debt. It is literally like people are punished for desiring to get educated

[singularity___]

10k screams "I am extremely out of touch". Thinking that this is a significant amount and will provide adequate relief is ludicrous. It would be like seeing someone drowning because they've got a 100 lb weight tied to their feet, removing them from the water, and then placing them back in that water with a new, 90 pound weight instead. They're still going to fucking drown.

[AmericanAntiCorruptionAct]

83% of all PPP loans or $658, 960, 627, 150 has been forgiven by the government.

[GhostOnTheHalfShell]

Students need to frame this correctly. They are in INDENTURED SERVITUDE. Interest rates that leave you paying for decades is debt slavery. Demand freedom.

[tomd]

It's frustrating how disingenuous all of the arguments against student loan debt cancellation are. It usually just boils down to "I worked through college and paid off MY debt!" (as if everyone I know who went to college didn't already do that, and they still have tens of thousands of dollars in debt, because college used to be far more affordable and federal student loans were invented to literally make it even MORE accessible). Or they stoke class tensions by suggesting that student borrowers are actually rich kids trying to squeeze the government, which clearly makes no sense at all when you bother to ask, "why would someone who's rich saddle themselves with tons of debt and then sit on it and let interest accrue in the vain hope of the government paying it off?" Or, they go, "you chose the debt, tough luck!" as if debt slavery is a normal part of American life now and people who decided to educate themselves should be punished for it.

[ekrenz]

Not only is it not enough, it is months away. Everyone should be sick of bring jerked around.

[DrumWild]

Right now in America, we effectively have TWO Right-wing parties. One of them pretends to care about us, and the other is fully mask-off. I have never felt represented by our government in any way, at any time, in my entire life.

By the end of my second year of college, I figured out that it wasn't for me and that I wasn't going to get anything of value form a degree. This was in 1985, back before companies would say that a degree in anything results in more pay, by default.

Higher education can be a good, helpful thing. But there are SO MANY people who SHOULD NOT be going to college, and the colleges are accommodating this. When I picked my classes for my first year in 1983 at University, I saw that they offered a class called "English 99." This class teaches things like nouns and verbs. You know, things we were taught in grade school.

These people SHOULD NOT be in college, but yet they were pushed there. It's financial exploitation. It's why I did not pressure my son to go to college right away, and instead encouraged him to get some life experience before making this big of a commitment.

It was irresponsible of our society to do what it has done to ITS OWN CHILDREN.

[joshDammmit]

Yup. 10k doesn't do shit to get anyone out of debt. If you want to free people from debt, you actually have to free people from debt
It's like, "great, now I'm only defaulting on $46k instead of $56k."

[USVIsteve]

All he’s doing is trying to figure out the very least he could possibly do and get away with it and still say he did something. Feckless.

[DarkMaths]

We gave away $2T to the richest Americans just a few years with another $1T per year as a tax holiday. We were told these tax breaks paid for themselves. We then gave $5T to the owner class so they could declare biological warfare on their workers. This time, we were told it was necessary to keep our economy afloat. Now we’re told that forgiving $1.6T in student debt only favors the rich. If that’s the case, why isn’t claiming debt forgiveness pays for itself and keeps the economy afloat not a good enough reason?

[kray]

I graduated over 25 years ago, have been making payments for most of that time and still owe most of my principal because of interest. EDIT: Oh yeah, being a GenXer that graduated in 1996 means my locked-in interest rate is 8%.

[jessetorres]

I graduated from college 4 years ago, but still owe tens of thousands in debt, I've lost 2 jobs during this pandemic (though I'm currently employed), & rent for most places is almost what I pay in student loans a month so I can't afford to move out on my own. I would love to be a more active member of the U.S. economy if I could afford to do so without so much substantial student loan debt. Even if I only had 10% of my student loans forgiven that's still roughly 8 grand I don't have to worry about having to try to pay on time every month anymore.

[John-mujs]

Just like he handicapped himself when he refused to give out the $2000 checks he promised. They never learn.

[montecristo]

They act like canceling student debt is equivalent to canceling rent. "YOU CAN'T DO THAT!!!" they cry, either because they want to use the "I suffered, so you must suffer" argument, or because they have financial connections to profit from student debt in their investment portfolio.

[Vicioussama]

Cancel it all and give everyone who paid off their student loans within the last ten years and make under $100k a year a tax break for a few years imo. Helps people who have debt and those who relatively recently paid it off so they can all have more money in their hands to make ends meet and help the economy.

[leftykeys]

It amazes me not only that students are stuck with all this debt, but that the interest on those debts creates a treadmill where all they're doing is paying the interest while the debt remains unscathed. What a SCAM.

[djtoxicdhg]

It's a joke because he's telling you I have the power to eliminate all or atleest more and he's saying no you deserve to still be in massive debt.

[julesl]

10000 isn't crap..won't even put a dent in mine.

[bradley]

Well I suppose we have nobody to blame but ourselves because this is the same guy who voted to prevent you from filing bankruptcies in order to wipe away student loans.

[Hulkenbreak]

THE RICH DON"T GET STUDENT LOANS. ALL THE PPL WITH STUDENT DEBT ARE POOR. CANCEL ALL STUDENT