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      The lesson from Joe Biden’s student loan forgiveness? Go big or go home | Hamilton Nolan

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      The lesson from Joe Biden’s student loan forgiveness? Go big or go homeHamilton NolanBiden will get backlash from Republicans whether he does a little or a lot – so you might as well do a lot Politics is not like regular life; it’s worse. Things that are held as treasured virtues in the normal world are often political liabilities. We’ve all just been served with a shining example of how reflexive moderation – which is good when estimating measurements for recipes, or having drinks at a work party – becomes the tendency of a political fool. The wellbeing of countless Americans has long been sacrificed on the altar of moderation by the Democratic party, and all the Democrats win for it is maximal disgust.Share your views on Biden’s student loan forgiveness policy for millionsRead moreThis week Joe Biden announced that he will be canceling $10,000 in federal student loan debt (or $20,000 for Pell grant recipients) for people who earn under $125,000 a year. This policy is both unquestionably wise, and unquestionably a half-measure. There has long been a movement on the left to cancel all student debt, and even Democratic stalwarts like Chuck Schumer and Elizabeth Warren were pushing for the cancellation of $50,000 in debt. Joe Biden was pulled towards this action, in large part, by his inability to get other, bigger economic policies through Congress. But even in taking unilateral action, he has succumbed to the overwhelming tendency of Clintonian Democrats to cut any good policy idea in half and call it political wisdom.And what did Biden earn for his unforced, personal decision to keep this program much smaller than it could have been? Within a day, mainstream Republican pundits and politicians called the policy an executive “coup”, “an abuse of the law”, “utterly revolting”, and a “fuck you to every financially responsible person”. Republicans in Congress screeched that it would cause wild and uncontrolled borrowing, and Mitch McConnell, predictably, called it “socialism”.In other words, Republicans – whose party has spent the past 50 years single-mindedly crushing worker power and funneling all of our nation’s proceeds to the rich – suddenly became very concerned that this policy might be regressive in its benefits. The party that prevented the passage of any broader measures that might have relieved not just student debt, but housing and healthcare costs and poverty wages, is now alarmed that this policy does not address all of those other matters. Republicans have taken one day off of trying to eradicate labor unions and destroy public education and put poor people in jail to theatrically moan about how this is unfair to all of the hardworking folks who didn’t go to college. Whatever.Here is the very simple lesson to take from this episode: you will get all of the backlash whether you do a little, or a lot. So do a lot. What is this loan forgiveness policy really driving at? It is, at its core, one small step on the road to a world in which America has free, high-quality, public higher education for all. We are not dreaming of a world in which student loan debt is somewhat smaller, but rather a world in which student loan debt does not need to exist. That is the goal we should reach. When, after many years of struggle, we get a chance to take a step down that road, make it a big step. To do otherwise is stupid. By slashing the debt relief number far down from what it could have been, Biden is acting like a man who is forced to rush into a burning building to save two kittens, and decides to break it up into two trips so his arms don’t get tired. Hey, buddy: let’s just get this thing done all at once.Incredibly, this basic truth of how politics works seems to forever elude Democrats. The issue of healthcare is an obvious parallel here. Free public healthcare – Medicare for all – is the intuitive, compassionate and eminently achievable goal that all of our peers in the wealthy western world have already built. So naturally, that goal is considered a fringe position in the Democratic party. Instead, Democrats have spent decades in the excruciating process of building and defending Obamacare, an insufficient half-measure that has cost the same amount of political capital and prompted the same amount of political opposition that Medicare for all would have, while leaving in place most of the ruinous flaws of our broken system. This resolute determination to never propose full solutions to our problems is proudly embraced by Democratic leadership and packaged into campaign ads as “reasonableness” and “moderation”.Of all of the perversities in American politics, the most frustrating is its conviction that idealism is a weakness. The conflation of defeatism with wisdom means that expressing the belief that we should just do what needs to be done in order to make the world a just place is enough to convince the political world that the speaker is a rube. This is ironic, because the very opposite is true, as anyone who has ever accomplished something ambitious can tell you. There is nothing more foolish than negotiating against yourself. That woeful quality has long been the hallmark of Democrats, who are like timid children who long to express themselves but are too scared to ever stray from the tepid crowd.What do we need? Public ownership of public goods for the public benefit. Public education, public healthcare, public transportation, public art. We are all the public, and helping the public is good. That’s called socialism, folks. Republicans will accuse the Democrats of it no matter what. Might as well stop shuffling along, and get right to it.
      Hamilton Nolan is a writer based in New York
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      ‘Democrats have their mojo’: has the tide shifted for Biden and his party?

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      ‘Democrats have their mojo’: has the tide shifted for Biden and his party?A flurry of wins – passage of a climate and healthcare package, and the Inflation Reduction Act – give hope for the midterm elections Joe Biden has transformed his rough July into a jubilant August. Last month, the US president was drowning in negative headlines about his handling of numerous crises, from the war in Ukraine to record-high gas prices and the apparent demise of his signature legislative proposal.Now, as the summer draws to a close, Biden is riding high, powered by the passage of Democrats’ climate and healthcare package and glimmers of hope for his party’s prospects in the midterm elections. That optimism was on vivid display on Thursday, as Biden took the stage for a rally held by the Democratic National Committee in Rockville, Maryland.Biden’s chief of staff says president is comparable to historic predecessorsRead more“We’ve come a long way in 18 months. Covid no longer controls our lives. A record number of Americans are working,” Biden told the cheering crowd. “We never gave up. We never gave in. We’re delivering for the American people now.”Biden’s speech offered a preview of Democrats’ closing message to voters as they enter the final sprint leading up to the November elections. With the Inflation Reduction Act signed into law and Roe v Wade overturned by the conservative-led supreme court, Democrats believe they have a successful strategy to win re-election this fall, and they are prepared to defy previous predictions of a Republican shellacking.“At the top of the year, it was almost like Democrats were counted out, and most were preparing for the absolute worst,” said Anthony Robinson, political director of the National Democratic Training Committee. “I think that we’re in a completely, completely different headspace going into the midterms. There’s still a lot to do, but I think there’s a definite shift in the tide.”This week saw fresh indicators that Democrats may be able to avoid the widespread losses usually suffered by the president’s party in the midterms. Democrat Pat Ryan narrowly won a special congressional election in upstate New York on Tuesday, giving him the chance to represent a bellwether district that flipped from supporting Donald Trump in 2016 to backing Biden in 2020. Democrats have similarly outperformed expectations in other recent special elections in Nebraska and Minnesota.Ryan focused his campaign on the need to protect abortion rights in the wake of the Roe reversal, which ended the federal right to abortion access. Democrats say Ryan’s campaign could provide a playbook to other candidates looking to motivate voters to go to the polls in November.“I think that he found what resonated in his community and met people where they are,” Robinson said. “It wasn’t about a bunch of figures and numbers. It was just about the raw emotion and that people’s lives are at stake. That’s something that I think is important to everyone.”The passage of Democrats’ spending package has also helped mitigate concerns that candidates would have little to campaign on, despite the party’s control of the White House and Congress. The Inflation Reduction Act, which Biden signed into law last week, includes $369bn in funds to reduce America’s planet-heating emissions and several provisions aimed at lowering healthcare costs, particularly for Medicare recipients.“Democrats have their mojo after passing numerous policies that will tangibly impact people’s lives, and now the key is to really sell it with confidence before the midterms,” said Adam Green, co-founder of the Progressive Change Campaign Committee. “Lowering prescription drug prices, lowering healthcare costs and making water and air healthier for people’s kids is a very good message to take to voters who wonder, does it matter if I vote Democrat or vote at all?”Biden continued the string of victories on Wednesday, as he signed an executive order to cancel at least $10,000 in student loan debt for millions of borrowers. The order fell far short of what progressives had demanded, but even Democrats who had pushed for more debt cancellation celebrated the news.“At the end of the day, Biden exceeded the expectations of most progressives on what he would do on student debt,” Green said. “If people want more, they’re certainly not going to get it with Republicans. But this is going to wipe out debt completely for about 20 million people and be a giant chunk out of their debt for many others.”Before Thursday’s rally, Biden met Democratic donors for a $1m fundraiser, where he attacked Donald Trump and his Republican predecessor’s party loyalists and voter base.“We’re seeing now either the beginning or the death knell of an extreme Maga agenda,” he said, referring to Trump’s Make America Great Again campaign slogan. “It’s not just Trump … It’s almost semi-fascism,” Biden added.As Biden has enjoyed this recent wave of wins, his approval rating has ticked up as well, although it remains underwater. A Reuters/Ipsos poll completed on Tuesday found that 41% of Americans approve of Biden’s job performance, marking the first reading above 40% since early June.Earlier this month, Democrats overtook Republicans on the generic congressional ballot for the first time since last November, according to FiveThirtyEight.Those developments have led some election forecasters to shift their predictions for the November elections. FiveThirtyEight’s forecast model suggests Democrats are now slightly favored to maintain control of the Senate, and the Cook Political Report downgraded its outlook for Republican gains in the House after Ryan’s victory in New York.But Republicans are still favored to regain control of the House, reflecting the strong headwinds that Democrats face as they look toward November. Republicans secured several key victories in redistricting battles, giving them a more favorable House map. Considering Democrats’ extremely narrow majority in the House, redistricting alone may provide enough of an advantage for Republicans to recapture the lower chamber.Americans’ anxiety over the economy presents additional challenges for Democrats. Inflation is higher than it has been in more than 40 years, squeezing families’ budgets amid concerns that the US has entered a recession. An NBC News poll taken this month found that 74% of voters believe the country is on the wrong track, marking the fifth month in a row that the reading was over 70%.Republicans remain confident that the pessimistic national mood will convince voters to reject Democrats in November, and they predicted that the student debt cancelation would end up backfiring on Biden. Ronna McDaniel, chair of the Republican National Committee, attacked the policy as a “bailout for the wealthy”.“Biden’s bailout unfairly punishes Americans who saved for college or made a different career choice, and voters see right through this short-sighted, poorly veiled vote-buy,” McDaniel said on Wednesday.Democrats acknowledge they still have their work cut out for them over the next three months, which is more than enough time for Republicans to address their sudden reversal in fortune. But as he addressed an exuberant crowd chanting “four more years”, Biden seemed more ready than ever to overcome historical trends and protect his party’s majorities in Congress this fall.“‘We the people’ are the first words of our constitution, and ‘we the people’ will still determine the destiny of America. If ‘we the people’ stand together, we will prevail,” Biden said on Thursday. “We just have to keep the faith. We just have to persevere. We just have to vote.”Reuters contributed reportingTopicsJoe BidenDemocratsBiden administrationUS politicsUS midterm elections 2022newsReuse this content More

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      Biden says his student loan relief is ‘life-changing’. Will it fix the system’s inequities?

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      Biden says his student loan relief is ‘life-changing’. Will it fix the system’s inequities?The initiative’s income cap and unclear bureaucratic process could fail to address the racial disparities that already exist01:15As Joe Biden announced the details of his plan to help those with student loan debt, Kat Welbeck wrestled with the idea. For millions of Americans, the unprecedented relief would be “life-changing”, especially for low-income and Black and Latino Americans, who are disproportionately saddled with decades-long debt, she said.But the plans’ income cap on who can receive cancellation, and its unclear bureaucratic process for Americans seeking debt relief could perpetuate the inequities that underpin the nation’s student loan system, Welbeck, director of advocacy and civil rights counsel for the Student Borrower Protection Center, said.Student loan forgiveness: what you need to know about Biden’s planRead more“While a $10,000 cancellation is so meaningful for millions of student loan borrowers, there’s a lot that’s still to be done to fix this student debt crisis,” Welbeck says.On Wednesday, the White House released its long-anticipated plan on how to tackle the nation’s mounting $1.6tn student loan debt, accounting for more than 43 million people, with almost a third owing less than $10,000, according to federal data.The initiative would cancel up to $10,000 in debt for borrowers who earn less than $125,000 a year ($250,000 for married couples). Borrowers whose low income level qualified them for a Pell Grant will receive up to $20,000 in relief. The White House also extended a pause for “one final time” on student loan payments through January.The White House has projected that the plan would eliminate full debt balances for 20 million Americans and that 90% of debt relief dollars would go toward people with incomes less than $75,000. The White House also touted it as an effort to “advance racial equity”, pointing to its targeted relief for those who received Pell Grants. Officials noted that Black Americans were twice as likely to receive such grants as white Americans.Senator Elizabeth Warren, who, like others, have advocated for cancelling at least $50,000 in student debt, praised the administration’s plan as “transformative for the lives of working people all across the country” and would “help narrow the racial wealth gap among borrowers”.Still, some argue that the cancellation of just $10,000 for most borrowers would fail to substantially affect the racial disparities within the student loan system. Black and Latino borrowers disproportionately come from poorer households and, as a result, take on more debt than white Americans. At the same time, white American households have, on average, 10 times the wealth of Black households.Derrick Johnson, president of the NAACP, which had been advocating for cancellation of $50,000, wrote in an op-ed that Biden’s plan would “do little to help” Black Americans who, on average, hold nearly twice as much student debt as white borrowers. “Canceling just $10,000 of debt is like pouring a bucket of ice water on a forest fire,” he said. Canceling $10,000 in student debt when the average white borrower is $12,000 in debt, while Black women hold on average over $52,000 isn’t just unacceptable, it’s structural racism.— Nina Turner (@ninaturner) August 23, 2022
      The emphasis on income in the White House’s cap represents a possible barrier that could exclude borrowers of color who meet the income threshold yet their families lack the wealth to tackle the debt, Welbeck says. A June 2020 report from the Student Borrower Protection Center found that 90% of Black Americans and 72% of Latino Americans took out student loans, a far cry from the 66% of white Americans.And 20 years after graduating college, the median Black borrower still owed 95% of their original debt while the median white borrower paid down the same amount. For Latinos, after 12 years, they owed 83% of their original debt, more than the white borrower over the same time.Given that Black and Latino Americans typically earn less than white Americans, borrowers of color will start from behind without the intergenerational wealth available to reduce the debt they already hold.“So if you’re already coming from a lower-wealth household, you now have more debt, and then that cuts into opportunities for you to build wealth for the next generation,” Welback says. “You might see higher-income households that are Black or Latino, but that does not take away the fact that you still have those wealth disparities.”Student loan forgiveness: what does it mean for the US debt crisis?Read moreHistorically, the education department has complicated access to loan forgiveness through the programs it creates, such as the Public Service Loan Forgiveness program for non-profit and public service workers seeking relief and the borrower defense program for those who were defrauded by predatory for-profit colleges.The White House initiative does nothing to address private student loan debt, which accounts for more than $140bn in debt. Although Latino borrowers were more than twice as likely to report struggling with private student loan debt as white borrowers, Black borrowers were a staggering four times as likely to fall behind on private debt payments, according to the Student Borrower Protection Center.An application process could make it harder for people to access relief, Welbeck says. But recent decisions by the education department to automatically discharge debts for hundreds of thousands of students who attended ITT Technical Institute and Corinthian Colleges, two for-profit college chains that imploded, show that a widespread relief without bureaucratic hurdles is possible. The two debt cancellations at the for-profit institutions amounted to roughly $10bn affecting more than 700,000 students.“The student debt crisis is a result of the longstanding history of racial discrimination that we have in our country, and it continues to perpetuate them,” Welback says. “So until we address student debt as a civil rights crisis, we’re not going to be able to make meaningful gains toward equity.”TopicsUS student debtBiden administrationUS student financeRaceJoe BidenUS politicsUS educationnewsReuse this content More

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      I’m 65 and have $300,000 in student debt. I and other older debtors are going on strike | Lystra Small-Clouden

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      I’m 65 and have $300,000 in student debt. I and other older debtors are going on strikeLystra Small-CloudenWe know that this debt won’t go away – for us or Americans of any age – unless we stand up and fight it On Wednesday, the White House announced its long-awaited debt cancellation plan. Joe Biden will erase $10,000 for borrowers who make under $125,000 a year, and $20,000 for Pell Grant recipients. The federal student loan payment moratorium will also be extended until December 31.Sadly, this news does almost nothing for me and millions of others. It falls far short of what economic and racial justice demands. That’s why I have joined over 250 people, all over age 50, who are pledging to strike our student loans when payments resume. Our numbers are growing every day.Most people think of the student loan crisis as a problem affecting young people. As a 65-year-old woman, however, I am actually among the fastest-growing demographic of student debtors. We know that this debt won’t go away – for us or Americans of any age – unless we stand up and fight it. That’s why we’re prepared to strike.I have over $300,000 in student debt. The burden is negatively affecting my emotional and physical existence. You may wonder how it is possible to accumulate such a large amount of student debt, so let me explain.As a single, Black, immigrant woman, I always told my four kids that education was the most important part of their upbringing. But it didn’t take me long to realize that I was hardly following my own advice: I was not comfortable advising my children to achieve the highest level of education when I myself didn’t. I am a mentor, educator and adviser to my kids. I wanted my mentorship and advice to be built on a strong educational and intellectual foundation.In January 2010 I began a doctoral degree program in human resources management. My biggest mistake was enrolling in a for-profit school. I did achieve my academic goals in August 2016. That feeling of success was short-lived, however. After graduation, I had to begin repaying student loans.My school didn’t play fairly with me while I pursued my doctoral degree. The administrators changed the length of my program from three to six years. They actively steered me away from my research interest in the effects of slavery and globalization, adding more time to my program of study. Meanwhile, I continued to pay. From an initial loan payoff of $75,000 per year, my debt rose to $300,000.Then my children started college. Because of my own debt, I was unable to qualify for parent loans to help my younger two children pay for their undergraduate studies. I was also unable to plan for the future. I exhausted my retirement funds trying to repay these loans and have not been able to replenish them because, as a good citizen, I prioritized repaying my student loans above all else.Biden must cancel all student loan debt, including for those with graduate degrees | Derecka PurnellRead moreMy debt is an economic drain but it’s also an emotional one. I have been stressing over it for 12 years now, and the stress has taken a very real toll on my physical health. I suffer from hypertension and high cholesterol and recently had emergency surgery to remove my gall bladder due to digestive issues caused by unnecessary stress. I spend a lot of time thinking about the fact that I am 65 years old, with projected loan repayments for the next 21 years of my life – meaning I will be 86 when I pay them off. When you are burdened by student debt, there is no quality of personal or work life. You are stuck at home – foregoing vacations, visiting family and friends, professional conferences, everything.Like so many debtors, I’ve found it hard to see a way out. As an older person, I’ve often felt particularly alone as a student debtor. When I learned of the Debt Collective, the nation’s first debtors’ union, I realized I was not alone. I found others with similar stories and experiences, including many other older people. As a group, we understand that we’re stronger together. And we are taking action. If Biden won’t cancel our debt, we will go on strike.I joined the 50-over-50 debt strike to make sure that the world knows that older debtors exist, and that we are growing in number. Because student loans are structured as a debt trap, there are more and more older debtors every day. My fellow strikers and I can’t pay – and won’t. We shouldn’t have to take money from our retirement to pay for college. I accumulated this massive student debt because of the inhumane policies of lending institutions and for-profit schools, and the lack of support and intervention from government agencies. Biden has the power to cancel student debt for all of us, automatically and immediately. Why isn’t he using it?I am pleading with Joe Biden: please make things right – by cancelling all student debt.TopicsUS politicsOpinionJoe BidenBiden administrationDebt reliefUS student debtHigher educationHigher education policycommentReuse this content More

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      Student loan forgiveness: what does it mean for the US debt crisis?

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      ExplainerStudent loan forgiveness: what does it mean for the US debt crisis? The $1.7tn debt has become a hot political issues as midterm elections approachAmerica’s students have a debt problem. A big one. More than 45 million Americans – more than the population of California – now owe a collective $1.7tn in student debt.The vast majority of the money is owed to the federal government, which has been backing or directly offering student loans for higher education since 1958. While student loans are not new in the United States, the amount of student debt has more than tripled over the last 16 years.For the first time in history, the federal government will cancel a large swath of student debt to address the crisis. On Wednesday, Joe Biden announced borrowers who make less than $125,000 a year will see $10,000 shaved off their debt. Most borrowers will qualify for some cancellation. For at least 15 million, that means complete erasure of their debt.Student debt will remain a hot political issue. Understanding the impact of such a dramatic policy requires unpacking the student debt crisis, beginning with its origins.How the student debt crisis startedIn 1957 the Soviet Union successfully launching the first earth-orbiting satellite, Sputnik. With the cold war raging the federal government feared the US education system was failing to produce enough scientists and engineers to compete with the Soviets and, in 1958, started handing out student loans through the National Defense Education Act.Nearly a decade later, the Higher Education Act of 1965 allowed more people to take out loans as the federal government promised to pay back banks for any loans that were not repaid.“It all started from this choice, which I think was a terrible choice, to decide that as a policy matter we should support higher education … by giving [students] an opportunity to get a loan,” said Dalié Jimenez, professor of law and director of the Student Loan Law Initiative at the University of California at Irvine. “It was just a terrible mistake.”Starting in 2010, the federal government started directly lending money to student borrowers. In the wake of the Great Recession, the amount of student debt began to increase rapidly. Colleges were seeing increased enrollment as people left the workforce to go back to school. States slashed their higher education budgets, leading to higher tuition. More students were turning to for-profit colleges, which tend to be more expensive than public colleges.Over the last few years, the amount of grant aid, which does not need to be paid back, has risen. Yet despite this appearance of more financial support for students to attend college, the cost of attendance has remained the same.Two line charts comparing the gap between the listed price and what it actually costs to attend public and non-profit private institutions.The cost of attending public college has actually increased at a higher rate than the cost to attend a private college. The net cost of attendance for four-year public colleges, which takes into account any grants students receive, went from $17,500 in 2006 to $20,210 in 2016, according to data from College Board.Line chart of the costs of public and private non-profit increasing and then slightly decreasing from 2006-07 to 2020-21 school years.“That era 10 years ago was a really formative moment for producing a lot of debt that’s still out there,” said Kevin Miller, associate director for higher education at the Bipartisan Policy Center’s Economic Policy Project. “The cost of college attendance has gone up a lot while household incomes in the United States haven’t … there’s a real sense that if grant, state or institutional aid isn’t filling the gap, that just leaves debt as the only option.”What student debt looks like todayFor the 2021-2022 school year, the average cost of tuition and fees for a four-year public college is $10,740. The cost is nearly quadrupled for private institutions, at an average of $38,070. Even with grant aid, the cost of attendance is an average of $19,230 for public institutions and $32,720 at private schools.Estimates put the average debt of those in the class of 2019 who took out student loans at $28,950. The number is close to the maximum $31,000 that students who are dependents of parents or guardians can borrow from the federal government to fund undergraduate education.Area chart of student debt increasing from Q1 2006 to Q1 2022.Continuing racial wealth disparities are reflected in who has to take out loans to fund college. About half of Black college students take out student loans, compared with 40% of white students. Black Americans owe an average of $25,000 more in debt than their white counterparts and are more likely to be behind on their payments.Despite the amount of debt many students need to take on to attend college, nearly 20 million Americans still enroll in college every year. While earnings can depend on a person’s industry, those with a bachelor’s degrees earn 75% more in their lifetime than those with just a high school diploma.“The message is you have to get a college degree. It’s not just a rhetorical message, it’s an actual truth that if you don’t have a college degree, particularly if you are Black or brown … you will not be able to get a job that is better than your parents’,” Jimenez said.Those with graduate and professional degrees earn even more, but the price for an advanced degree is even higher. A good chunk of student debt – about 40% – is held by those who took out loans to pay for graduate school.What the government has done to address student debtAfter over a year of deliberation, the White House announced on Wednesday the largest student debt cancellation in US history. Federal borrowers making under $125,000 will see $10,000 of their debt forgiven. The policy represents a fulfillment of a promise Biden made on the campaign trail to cancel $10,000 of student debt.Until Wednesday, the most substantial policy addressing student debt was first implemented by the Trump administration, which paused student loan payments and interest accrual at the beginning of the Covid-19 pandemic. Both Trump and Biden extended the pause over the last two years, and it is now set to expire on 31 August.Since the beginning of this year, Biden has announced a slate of additional policies alongside the pause extension. Those who have defaulted or are delinquent on their federal student loans will be returned to good standing. Biden forgave $415m in student debt for borrowers who attended predatory for-profit schools.His administration also announced changes to the Public Service Loan Forgiveness Program, which forgives the student loans of borrowers who are non-profit and government employees after 10 years of debt or after 120 payments are made. Over 113,000 borrowers with a cumulative $6.8bn in debt are now eligible for forgiveness. Over the years, the program has been under much criticism, as relief through the program was rare and borrowers were often deemed not qualified for logistical reasons.The debate over debt forgivenessRepublicans have been using student debt as a talking point against Biden as the midterm elections approach.Senator Mitt Romney suggested that Democrats canceling student loans is a way of bribing voters. “Other bribe suggestions: Forgive auto loans? Forgive credit card debt? Forgive mortgages?” he wrote on Twitter. JD Vance (who went to Yale Law School) told the Washington Post that “Biden essentially wants blue-collar workers like truck drivers – who didn’t have the luxury of going to college to get drunk for four years – to bail out a bunch of upper-middle-class kids.”The reality is that the student loans of those in the highest income quartile – people making more than $97,000 – do make up a third of all outstanding student debt. But many low-income Americans also have student debt, though the amount of debt they have is smaller. Those making below $27,000 a year make up 17% of all borrowers, but their loans comprise 12% of all the outstanding debt.An income threshold could be a way for the government to target forgiveness to those who need it most. But some have pointed out that an income ceiling does not take into consideration a person’s wealth.“You’re looking at a snapshot of what your income was this year or last year, that tells you very little,” Jimenez said. “If your family has no wealth, you’re very differently situated from someone who has family wealth or personal wealth from previous careers.”Those who have been advocating for student debt cancellation say that $10,000 in forgiveness will not be enough to address the breadth of the crisis. Democratic lawmakers, including Senate majority leader Chuck Schumer, Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez, have called on Biden to cancel up to $50,000.“I don’t believe in a cutoff, especially for so many of the frontline workers who are drowning in debt and would likely be excluded from relief,” Ocasio-Cortez told the Washington Post. “Canceling $50,000 in debt is where you really make a dent in inequality and the racial gap. $10,000 isn’t.”Ending the student debt crisis for goodEven though millions will now see debt cancellation, future college students will continue to take out loans – and at higher interest rates. Tackling the price tag of college will come with its own complications, but advocates say it will be necessary to ensure student debt does not get worse.While Biden’s plan for free community college was killed along with the rest of the social and climate spending bill that was making its way through Congress, some efforts for better college funding are happening at the local level.In March, the governor of New Mexico signed a bill that would use $75m in state funds to cover tuition and fees for undergraduate students at two- and four-year colleges. Drives for similar government support have been seen in Pennsylvania, California and Maine.“The cost of college is too high for a lot of students to manage without debt. Making it so that students can go without debt or take less debt in the first place is the thing that we really need to be focusing on,” Miller said. “What about the next generation or the one after that?”
      This article was amended. An earlier version stated that student debt had doubled over 16 years. In fact, it has more than tripled.
      TopicsUS student debtUS personal financeEconomicsBiden administrationUS politicsexplainersReuse this content More

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      Trump sues US government over FBI search of Mar-a-Lago

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      Trump sues US government over FBI search of Mar-a-LagoEx-president seeks to prevent bureau from reading seized documents until court official weighs in Donald Trump on Monday filed suit against the US government over the FBI search of his Mar-a-Lago home, seeking to temporarily stop the bureau reading seized materials until a special court official can be appointed to review documents concerned.As the Guardian reported on Saturday, citing Trump’s lead attorney, Jim Trusty, and two sources familiar with the matter, “the suit argues that the court should appoint a special master – usually a retired lawyer or judge – because the FBI potentially seized privileged materials in its search and the Department of Justice (DoJ) should not itself decide what it can use in its investigation”.The suit, filed in US district court for the southern district of Florida, also “requires the government to provide a more detailed receipt for property; and … requires the government to return any item seized that was not within the scope of the search warrant”.The Mar-a-Lago search, on 8 August, was mounted to look for official records and material from Trump’s presidency that the National Archives and DoJ believe was improperly taken from the White House when Trump left office.Cheney vows to fight other Republicans who embrace Trump’s election lieRead moreIt has been reported that the search was carried out under the Espionage Act, and that some material sought concerned nuclear weapons.The search has generally been held to have added significantly to Trump’s legal jeopardy, which stretches from investigations of his business affairs in New York to investigations of his attempts to overturn election results.Trump refused to admit defeat by Joe Biden in 2020, claiming widespread electoral fraud, a lie that stoked his incitement of the deadly attack on the US Capitol by his supporters on 6 January 2021.Despite a series of public hearings held by a House committee investigating the attack on Congress and Trump’s election subversion, Trump’s grip on the Republican party remains strong.The former president seized on the FBI search at Mar-a-Lago to claim mistreatment by the Biden administration, a stance backed by Republicans in Congress and the party’s electoral base.The suit filed on Monday called the search “a shockingly aggressive move” with “no understanding of the distress that it would cause most Americans”. It laid out a partial view of how the search unfolded and alleged unfair actions by the DoJ.Earlier on Monday, a federal judge considering an attempt by media organizations to unseal the warrant used to justify the search said he had not yet decided if the release of a redacted version would serve any useful purpose.The judge, Bruce Reinhart, wrote: “I cannot say at this point that partial redactions will be so extensive that they will result in a meaningless disclosure, but I may ultimately reach that conclusion after hearing further from the government.”The DoJ opposes release of the warrant, citing an ongoing investigation.The suit Trump filed on Monday also sought to draw attention to his continued suggestions that he will soon announce another run for the White House.“Politics cannot be allowed to impact the administration of justice,” it said. “President Donald J Trump is the clear frontrunner in the 2024 Republican presidential primary and in the 2024 general election, should he decide to run.“Beyond that, his endorsement in the 2022 midterm elections has been decisive for Republican candidates.”The suit also says: “Law enforcement is a shield that protects Americans. It cannot be used as a weapon for political purposes.”TopicsDonald TrumpUS politicsBiden administrationFBInewsReuse this content More

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      Americans should focus on Biden’s accomplishments, says chief of staff – as it happened

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      Here’s the meat of White House chief of staff Ron Klain’s argument to American voters, as he put it to Politico:.css-knbk2a{height:1em;width:1.5em;margin-right:3px;vertical-align:baseline;fill:#C70000;}“Elections are choices, and the choice just couldn’t be any clearer right now. Democrats have stood up to the big special interests. They stood up to the big corporations and insisted that all corporations pay minimum taxes, stood up to the big oil companies and passed climate change legislation. They stood up to Big Pharma and passed prescription drug legislation. They stood up to the gun industry and passed gun control legislation. Things that this city [was] unable to deliver on for decades because the special interests had things locked down, Joe Biden and his allies in Congress have been able to deliver on.”The point of interviews like these is to get the administration’s message out ahead of November’s midterms, when voters will get a chance to decide which lawmakers they want representing them, and ultimately which party controls Congress. Considering Biden’s low approval ratings, the base case now is that Republicans have a good shot at taking the House, while Democrats seem favored to narrowly keep the Senate, though anything could happen.The White House would, of course, prefer Democrats hold onto both chambers. If one falls into the hands of the GOP, the prospects for any major legislation getting through Congress become dramatically slimmer for the next two years. Klain and others seem to be hoping that two things will happen: either enough voters change their minds about Biden, or they divorce their dislike of the president from their opinions of Democrats on the ballot. It may be premature to say whether the latter is happening, but when it comes to the former, polling aggregator FiveThirtyEight does show the president’s approval rating recovering from something of a nadir reached in mid-July.In closing, Klain offered this comment on Biden’s public profile, as compared to the previous White House occupant:.css-knbk2a{height:1em;width:1.5em;margin-right:3px;vertical-align:baseline;fill:#C70000;}“I don’t think it’s true he’s out there less than his predecessors. I just think Donald Trump created an expectation of a president creating a shitstorm every single day.”The Biden administration took advantage of a quiet week in Washington to lay the groundwork for the roughly two months of campaigning before the November midterm elections, when Democrats will have to fight for control of Congress.Here’s what else happened today:
      White House chief of staff Ron Klain gave an interview to Politico, where he promoted Biden’s legislative accomplishments and previewed Democrats’ message to voters.
      A Georgia judge blocked senator Lindsey Graham’s attempt to quash a subpoena compelling his appearance before the special grand jury investigating election meddling in the state.
      Democrats attacked Mike Pence’s trip to Iowa, as the former vice president continues exploring whether to run for the Republican presidential nomination in 2024.
      An Ohio House Democrat criticized Biden in a television advertisement. She is fighting to keep her seat representing a district whose boundaries have been redrawn to include more Republican voters.
      More LGBTQ politicians are holding elected office in America than ever before, according to a new survey.
      The supreme court’s decision to overturn Roe v. Wade may be causing a surge in women registering to vote, a political data firm has found.
      “Joe Biden’s letting Ohio solar manufacturers be undercut by China.” Sounds like a Republican campaign advertisement. It’s not – instead, it’s a television spot from an Ohio House Democrat fighting for her seat in a newly redrawn district that’s become much more friendly to the GOP.The New York Times reports that Marcy Kaptur has become the latest and most prominent Democratic lawmakers to publicly break with Biden with an ad that also highlights her collaboration with Rob Portman, Ohio’s retiring Republican senator. It’s a reversal from just last month, when she greeted the president at the airport in Cleveland during his visit to the city. However, such conduct is not unheard of for Democrats this election cycle. Maine representative Jared Golden aired an ad where he described himself as an “independent voice” that voted against “trillions of dollars of President Biden’s agenda because I knew it would make inflation worse,” according to the Times.Then there are the somewhat bizarre actions of Carolyn Maloney of New York, who is fighting to keep her House seat against a challenge from Jerry Nadler, a fellow Democrat. She had to apologize after saying Biden wasn’t planning to stand for reelection in 2024, only to make the same comment again. Democrat apologises for saying Biden won’t run in 2024 – then says it againRead moreRepublican House candidates who are facing close races are being advised not to talk too much about Donald Trump, but rather try to concentrate voters’ attention on the issues where they see an advantage over Democrats, CNN reports.“I don’t say his name, ever. I just avoid saying his name generally,” a Republican lawmaker in a tight race told the network. “I talk about the policies of his that I like.”The advice comes from Tom Emmer, a GOP House representative and chairman of the National Republican Congressional Committee, which is tasked with reclaiming Congress’ lower chamber in the November elections. While a spokesman for Emmer didn’t address the report about Trump, he told CNN, “Candidates know their districts best,” and “public and private polls show the midterms will be a referendum on Joe Biden and Democrats’ failed agenda that’s left voters paying record prices, dealing with soaring violent crime and facing billions in middle-class tax hikes.”As the report notes, this strategy could become complicated if Trump opts to announce another campaign for the presidency before the November midterms. Earlier this week, The Guardian reported he was being counseled to do so to avoid an indictment by the justice department over his handling of classified material.Trump should announce run for 2024 soon to avoid indictment, source saysRead moreThe investigation into Donald Trump’s ties to Russia was one of the earliest and most intense scandals of his presidency, and the legal wrangling over it still hasn’t finished.The Associated Press reports that a federal court of appeals panel has found that William Barr, Trump’s attorney general in 2019, wrongly withheld a memo that he cited to say that Trump did not obstruct justice during in the investigation into his ties with Moscow.Here’s more from the AP:.css-knbk2a{height:1em;width:1.5em;margin-right:3px;vertical-align:baseline;fill:#C70000;}At issue in the case is a March 24, 2019, memorandum from the head of the Justice Department’s Office of Legal Counsel, or OLC, and another senior department official that was prepared for Barr to evaluate whether evidence in special counsel Robert Mueller’s investigation could support prosecution of the president for obstruction of justice.
      Barr has said he looked to that opinion in concluding that Trump did not illegally obstruct the Russia probe, which was an investigation of whether his campaign had colluded with Russia to tip the 2016 election.
      The Justice Department turned over other documents to Citizens for Responsibility and Ethics in Washington as part of the group’s lawsuit, but declined to give it the memo. Government lawyers said they were entitled under public records law to withhold the memo because it reflected internal deliberations among lawyers before any formal decision had been reached on what Mueller’s evidence showed.
      But U.S. District Judge Amy Berman Jackson said last year that those arguments were disingenuous because the memo was prepared for Barr at about the same time as a separate Justice Department letter informing Congress and the public that Barr and other senior department leaders concluded that Trump had not obstructed justice.
      The memo noted that “Mueller had declined to accuse President Trump of obstructing justice but also had declined to exonerate him” and “recommended that Barr ‘reach a judgment’ on whether the evidence constituted obstruction of justice,” the panel wrote Friday. The memo also noted that “the Report’s failure to take a definitive position could be read to imply an accusation against President Trump” if the confidential report were released to the public, the court wrote.Busy day for courts in Georgia. A federal judge in the state has just rejected another bid by Republican senator Lindsey Graham to quash a subpoena compelling his appearance before a special grand jury probing attempts to meddle in the 2020 elections by Donald Trump’s allies.“Senator Graham raises a number of arguments as to why he is likely to succeed on the merits, but they are all unpersuasive, not least because they largely misconstrue the Court’s holdings,” judge Leigh Martin May wrote in denying the senator’s motion.“A stay is not justified even assuming for the sake of argument that Senator Graham has shown ‘a substantial case on the merits.’”Earlier this week, Trump’s attorney Rudy Giuliani appeared before the panel, which has informed him he is a target of their investigation.Rudy Giuliani informed he is target of criminal investigation in GeorgiaRead moreHowever in Georgia, a judge will allow a state law provision that bans giving food and water to voters standing in line to go into effect for the November midterm elections, though it is still subject to further legal challenges, the Associated Press reports. The law, passed last year, was part of a Republican-backed effort to reform the state’s election system, which Democrats attacked as an attempt to make it harder for the poor and racial minorities to vote. But as the AP notes, the legal battle isn’t over:.css-knbk2a{height:1em;width:1.5em;margin-right:3px;vertical-align:baseline;fill:#C70000;}U.S. District Judge J.P. Boulee said the voting rights groups may ultimately prevail on part of their challenge, but he agreed with the state that it’s too close to the election to block any part of the provision. He noted that requiring different rules for the general election than those in place for the primaries earlier this year could cause confusion for election workers.
      Boulee said that voting rights groups had failed to show that prohibiting the distribution of food and drinks within 150 feet (45 meters) of a polling place violates their constitutional rights. But he said that another part of the provision that bars people from offering food and drink within 25 feet (7.6 meters) of any person in line is probably unconstitutional because that zone is tied to the location of voters and could stretch thousands of feet from the polling place. More

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      Biden’s chief of staff says president is comparable to historic predecessors

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      Biden’s chief of staff says president is comparable to historic predecessorsRon Klain compares Biden’s achievements to Franklin Delano Roosevelt, John F Kennedy and Lyndon B Johnson in interview In a bullish interview, the White House chief of staff, Ron Klain, compared Joe Biden’s achievements in his first two years in office to historic successes under Franklin Delano Roosevelt, John F Kennedy and Lyndon B Johnson.‘Biggest step forward on climate ever’: Biden signs Democrats’ landmark billRead moreSpeaking to Politico, Klain said: “The president has delivered the largest economic recovery plan since Roosevelt, the largest infrastructure plan since [Dwight D] Eisenhower, the most judges confirmed since Kennedy, the second-largest healthcare bill since Johnson, and the largest climate change bill in history.”Klain’s comments, aimed at voters contemplating the midterm elections, are an indication that Democrats plan to campaign heavily on their accomplishments in the less than two years they have been in power. He also pointed to “the first time we’ve done gun control since President Clinton was here, the first time ever an African American woman [Ketanji Brown Jackson] has been put on the US supreme court.“I think it’s a record to take to the American people.”Klain’s references to historical figures chimes with Biden’s own interests. The president has regularly consulted historians, among them Doris Kearns Goodwin, Michael Beschloss and Eddie Glaude Jr, while Jon Meacham, a biographer of Thomas Jefferson, Andrew Jackson and George HW Bush, has been a close adviser in shaping Biden’s effort to restore “the soul of the nation” after the presidency of Donald Trump.Democrats control Congress by narrow margins. Opposition parties commonly do well in the first elections of a presidential term, and Republicans remain favoured to take control of one or both chambers. But legislative successes, most recently the passage of a major domestic and climate crisis spending plan, the Inflation Reduction Act, have given Democrats hope.One senator, Brian Schatz of Hawaii, pointed to the need to communicate better, writing: “I feel like the media is having a hard time metabolising the fact that this Congress has been historically productive. And acknowledging the size of these accomplishments, and the degree of difficultly – it’s just hard to do accurately without sounding a bit left-leaning.”There is some indication that Democrats are becoming more popular. They have established polling leads in key Senate races including Arizona, Pennsylvania and Ohio, against Trump-endorsed Republicans who are struggling to attract moderates and independents.In Kentucky on Thursday, Mitch McConnell, the Senate Republican leader, seemed to downplay expectations. McConnell said: “I think there’s probably a greater likelihood the House flips than the Senate. Senate races are just different – they’re statewide, candidate quality has a lot to do with the outcome.“Right now, we have a 50-50 Senate and a 50-50 country, but I think when all is said and done this fall, we’re likely to have an extremely close Senate, either our side up slightly or their side up slightly.”In his Politico interview, Klain said: “Elections are choices, and the choice just couldn’t be any clearer right now.“Democrats have stood up to the big special interests. They stood up to the big corporations and insisted that all corporations pay minimum taxes, stood up to the big oil companies and passed climate change legislation. They stood up to Big Pharma and passed prescription drug legislation. They stood up to the gun industry and passed gun control legislation.“Things that [Washington DC was] unable to deliver on for decades because the special interests had things locked down, Joe Biden and his allies in Congress have been able to deliver on.”Asked about the Republican counter-offer, he cited issues Democrats hope can galvanise voters, prominently including attacks on abortion access after the supreme court overturned Roe v Wade, the ruling which protected the right.“We have an extreme Maga group in the Republican party that has no real plan to bring down inflation,” Klain said, referring to Donald Trump’s campaign slogan, Make America Great Again. “They obviously want to pass a nationwide ban on abortion. They sided with big pharma. They sided with the climate deniers … most of them sided with the gun lobby.“And so I think that choice [is] between a party that’s standing up to the special interests and delivering change and … an extreme party, a party that’s talking about … abolishing social security and Medicare every five years.“The extreme nature of our opponents, whether it’s with regard to democracy or social security, are all part of a movement that is just very different than we’ve seen in recent years in this country.”Klain said the worst day of the presidency was 26 August 2021, when 13 US service members were killed by a suicide bomb during the evacuation of Kabul.That, he said, was “just a terrible tragedy and certainly the darkest day”.Questions have been raised, including by Democrats, about whether Biden is too old to run for a second term. Klain said Biden’s experience – he will turn 80 in November – helped make him an effective leader.Judge orders DoJ to prepare redacted Trump search affidavit for possible releaseRead moreBiden, he said, has “a personal history of tremendous, joyous successes and devastating tragedies. And I think that helps moderate his spirit at all times.“There is nothing I can ever walk into the Oval Office and tell him that’s any bigger than the bigger things he’s already experienced in life. And nothing I could ever tell him is any sadder than the saddest things he’s already experienced in life. And I think that gives him a very level temperament as president.”Klain was also asked about complaints, particularly from Republicans, that Biden does not maintain a high public profile.“I don’t think it’s true he’s out there less than his predecessors,” Klain said. “I just think Donald Trump created an expectation of a president creating a shitstorm every single day.”TopicsJoe BidenBiden administrationUS politicsnewsReuse this content More