Psaki Dodges Student Debt Question
February 7, 2022
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10:11Now PlayingPsaki Dodges Student Debt Question
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as posted by the channelThe Biden administration promised to cancel at least some part of student debt. They said they were waiting on a memo from the Department of Education to see if they had the authority to do so. So far there hasn't been any word on that memo. When a reporter asked Jen Psaki about it her answer was...uninspiring.
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Sam: At one point I can't remember exactly when it was on the show. I know we've talked about this at least multiple times. There was early in the administration a call for Joe Biden to unilaterally relieve student debt. Now as you know the white House believes correctly that it has the ability to place a moratorium on the repayment of student debt through the Department of education. and they have done so. and I believe this moratorium exists at least till march at this point. then they may punt again. That same authority has been argued it's may sorry. would also allow the administration and they have done this in specific cases I mean tens of thousands of cases of people but in specific circumstances that they could basically just relieve the people holding the debt of that debt burden. We know that this has been a huge drag on the economy. It has been a huge drag on people's ability to move into certain professions. I've done multiple interviews with different people who show that this is not in any way a regressive policy. that it would help not just doctors and lawyers but in fact would help people across the economic spectrum. and would be helpful to society at large. There was a request from the Obama administration. Their response was we're going to have our lawyers take a look at it and generate a letter to tell us whether we have the authority to do this. This letter has taken an extraordinarily long period of time. I think we talked about this with Ilhan Omar.
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