The White House is reviewing whether President Biden can take unilateral action to cancel federal student loan debt, press secretary Jen Psaki said Thursday, as progressives push the administration to provide relief amid the coronavirus pandemic.
“The President continues to support the cancelling of student debt to bring relief to students and families,” Psaki tweeted. “Our team is reviewing whether there are any steps he can take through executive action and he would welcome the opportunity to sign a bill sent to him by Congress.”
Psaki’s statement marked a shift from the White House, who earlier Thursday had punted on the issue and said Biden would look to Congress to pass a bill on student debt relief.
Read more at The Hill.
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Could the President (please) unilaterally cancel mortgage interest? Or better yet – put a 1% mortgage interest cap in place. Banks wouldn’t lose – they just wouldn’t gain as much. Home ownership woukd go up as more people could afford to purchase, and the economy would take off as people would have more disposable income to spend on stuff, creating jobs, etc.
the king is ready to sign another executive order?
Come on Jen. Just tell Joe to sign an executive order and be done with it. Screw Congress. Who are they anyway? No need to circle back on this one.
White House Reviewing Whether Biden Can Unilaterally Cancel Student Debt
That’s impossible. He can’t cancel a debt and make it disappear.
What he can and is looking to do is transfer the obligation of paying back for the loan from the people who asked for and benefited from the loan and committed themselves to paying it back to people who did NOT ask or benefit from the loan and did NOT commit themselves to paying it back.