Ben Shapiro having nightmares about a world without usury. https://t.co/4zKRDGixUX— Keith Woods ?? (@KeithWoodsYT) November 19, 2020
Blumpf has been fired.
It was White Independent and Moderate voters who fired him in every swing state. I’ve been arguing that financially strapped, rightwing White male Independent voters weren’t motivated to vote for him in 2020. They came out in force for him in the Center in the 2016 election. In the 2020 election, his appeal was more narrowly limited to the Right and he won more conservatives and Republicans.
“This week, the Left has intensified its calls for President-elect Joe Biden to forgive student debt via executive order, perhaps as much as $50,000 per borrower. Such a move would constitute both awful policy and an abuse of the discretion that Congress has granted to the executive branch in this area.
It is often said that Americans’ trillion-and-a-half-dollar student-loan debt is a “crisis.” It is not. As Beth Akers of the Manhattan Institute has noted, the typical four-year college graduate who borrowed starts with a debt of $28,500, which he can eliminate with 20 years of $181 monthly payments. By way of comparison, bachelor’s-degree holders outearn high-school grads by something like a million dollars over the course of their lives. College costs too much, but not so much that we need to feel sorry for the most educated people in our society.
What about those with far higher burdens? These large sums normally come from graduate studies, not four-year degrees, and are disproportionately possessed by folks with relatively high incomes, including doctors and lawyers. Higher undergraduate debt is also often the result of a deliberate choice to attend expensive private colleges rather than more affordable public ones, and to turn down avenues such as military service that can pay for college. Moreover, many students from truly modest means are already given significant grant aid. On top of that, the problem of truly unmanageable debt has already been addressed — and at the expense of federal taxpayers. …”
Chuck Schumer and Elizabeth Warren are pressuring Biden to issue an executive order which would wipe out $50,000 in student loan debt. Biden is trying to weasel out of it by calling on Congress to cancel only $10,000 in student loan debt which we know will never go anywhere in the Senate.
“President-elect Joe Biden said Congress should take “immediate” action to forgive student loan debts.
Biden’s appeal comes after Senate Minority Leader Chuck Schumer (D-NY) said Biden should take executive action to waive student debt after he takes office.
A Biden official told Fox News that the president-elect is calling for “immediate” action to forgive $10,000 of student loan debt for borrowers — but that the action should take place in Congress.
“Immediate $10,000 forgiveness of student loans, helping people up there in real trouble,” Biden said Monday. “They’re having to make choices between paying their student loan and paying the rent. Those kinds of decisions.”
Biden added: “It should be done immediately.”
The official later said Biden was referring to congressional action.
Schumer and Sen. Elizabeth Warren (D-Mass.) advanced a plan saying Biden could use his executive authority to cancel up to $50,000 of student debt per borrower. …”
Student loan payments and interest are currently on ice because of COVID.
“Democratic leaders in Congress are pushing President-elect Joe Biden to take quick action on canceling student loan debt with an executive order to stimulate the economy and provide relief to struggling borrowers.
Biden has expressed interest in forgiving some amount of education debt, a move that would undoubtedly trigger political backlash, perhaps on both sides of the aisle.
There are also questions among economists about how much of a boost to consumer spending would result from swift action during a downturn.
Progressives such as Sen. Elizabeth Warren (D-Mass.) have long called for student debt cancellation as a necessary plank of any economic recovery. In an economy where education is shown to be one of the most reliable tickets to prosperity, progressives argue that sizable loans make it harder for people to get ahead, leaving them struggling to pay the bills and unable to save or invest.
More than 40 percent of U.S. adults who attended college — about 30 percent of all U.S. adults — had at least some student debt last year, according to a survey released in May by the Federal Reserve. Nearly 30 percent of those who have student loans also deferred their payments in 2019. …”
40% of college-educated voters have student loan debt.
Donald Trump was elected in 2016 because he was perceived as a Moderate on economics. By 2018, he was seen as more rightwing than Ronald Reagan on economics after he threw his support behind Paul Ryan’s agenda on health care and corporate tax cuts. Presto, the Blue Wall in the Rust Belt magically came back, which doesn’t surprise me at all given how he won the 2016 election.
In the 2020 election, the GOP had a DISMAL showing with Independent voters, Moderate voters, White college-educated voters and Millennials. 1/2 of Millennials are Independent voters. There were fewer Silent Generation and Boomer voters. Basically, Independent voters are younger and less wealthy than Republicans and this is true of leaners on both sides.
2/3rds of Independent voters say the U.S. economic system unfairly favors powerful interests. Right Indies are divided on the issue. The Hard-Pressed Skeptics strongly agree. The New Era Enterprisers strongly disagree. The True Cons are only 15% of registered voters.
In this context, National Review has found its political hill to die on for Principles™ : conserving the unsustainable student loan debt burden on Millennials who are openly embracing socialism due to their lack of household wealth. Literally the dumbest issue in American politics.
In the 2020 election, Donald Trump ran on giving $500 BILLION DOLLARS to based blacks in his Platinum Plan. They turned him down. This is the equivalent of 1/3rd of total outstanding federal student loan debt. How many White Millennials voted for Joe Biden because they couldn’t afford to vote for Trump?
In the four years that Donald Trump was president, the student loan issue went nowhere until COVID hit. Trump suspended student loan payments. Strangely enough, he didn’t run in 2020 on the fact he had done so. Instead, we heard endless tweets about “Dems R Real Racist” and how Joe Biden supported the 1994 crime bill. It never occurred to Trump to go further and lance that boil which would helped him with Millennials and Independent voters because the True Cons would have fussed about it. They would rather spend $1 billion dollars trying to appeal to based blacks who they showcased at the RNC in 2020.