Re: student debt cancellation. First- the most practical, brass tacks case for it: it is bad for the economy to have multiple generations saddled with a generally unproductive debt in their prime investing years. Unlike a mortgage - student loan debt does not appreciate with time
Second - first generation college grads, who generally come from working class families + communities of color, are more likely to have crippling loan debt. Canceling that debt will not fix systemic racism but it would strike a real, powerful blow against the racial wealth gap.
Third - people born in 1981 and later have been loyal Democratic voters but entered the workforce during W's Great Recession, are now buffeted by the COVID Recession +Trump's weak response to it. They need something material to show for showing up and electing a Dem president.
Fourth - crass political calculus: biggest threat to Dems in 2022 + 2024 is an economy still reeling from the COVID Recession. If people have their student loan debt scrapped, they wont stash the savings in a Caymans or Swiss bank account. They will spend, stimulating the economy
Fifth - people who worked hard to pay off their loan debt would have every right to be angry if this goes ahead. Justified frustration. That does not justify continuing to punch our own economy in the face. The greater good of the country + economy supersede their feelings
Sixth - this cant be the only economy policy pushed by the Biden WH. The work + aspirations of people who did not go to college matter just as much as the most striving college grad. No more, no less. But Biden must pursue every policy to strengthen economy. This is one.
Seven - if you hear people condemn this policy, ask them how they reacted to the push that started after the Tea Party wave of 2010 to enact draconian funding cuts + tuition hikes in public university systems. If they shrug or make excuses, that's all you need to know.
You can follow @TucciTellsIt.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:

By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.