Cancelling Student Loan Debt May Be The Only Way Biden Can Help Dems Win In 2022

A group of 85 Democratic lawmakers are pushing for President Biden to cancel up to $50,000 in debt for student loan borrowers, continuing to push the issue even as the administration pretends it isn't a problem. But these lawmakers have plenty of reasons to push for this plan, most notably the fact that they, and President Biden, need a serious win right now before we get into election season. Ring of Fire's Farron Cousins explains what's happening and why forgiving this debt should be a no-brainer for the administration.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

We are now just three months away from student loan debt repayments kicking back up again, screwing over millions of Americans and of course costing the United States economy roughly 9 billion or $90 billion per year. All because we gotta pay back those student loans that we had to take out because the cost of college is soaring at an exponential rate that really has no reflection whatsoever on the actual cost that colleges incur for putting classes out there for people. The money's not going to the professors, they're going more and more to, you know, adjunct professors who get paid a couple thousand dollars a semester for each class they teach, certainly not even enough to really be considered like a minimum wage. So everybody's getting screwed in this, except of course the colleges and the lenders, and we're three months away from that picking back up.

And so a group of Democrats, dozens and dozens of Democratic lawmakers in Washington, DC have now sent a memo to president Biden telling him you can forgive, yourself, you don't need any of us to do this, you can with a stroke of a pen, forgive up to $50,000 in student loan debt for every single borrower here in the United States. It's waiting for you to do and I believe there's 80 some odd Democrat, Democrats, excuse me, that's signed onto this and you could do it. He could do it and that's the point. He could do this, up to $50,000 per person gone with a stroke of a pen. He is making the decision to not do that and I don't know what he is basing that decision on. Is it, his decision based on because he loves losing elections? Because that's what's gonna happen. Earlier this year in January, that was the first month in six months that the child tax credits payments did not make their way to American citizens.

So already this year, the Democrats have taken money directly out of people's pockets. You're not getting those checks anymore. You can thank Joe Manchin for that. He was the biggest opponent of them. So they took money out of our pockets in the first month of an election year, when May rolls around and we have to start making those payments again, that's more money out of your pockets. Do you think people in this country are gonna go to the polls and say, well, the Democrats, they did take money outta my pocket twice this year, but, uh, ah, let's give 'em another try. They're not, I'm sorry. They're not. Even with this insane and treasonous as today's Republican party is, you have to remember, you're watching this because you are involved in politics because you understand what's happening. But this video is not gonna have 330 million views from the United States. This country is not tuned in like you guys are.

They don't watch MSNBC. They don't watch Fox news. They go to work. They live their lives. They go home. They turn on the masked singer. That's what happens. They're not political in any way. They're not paying attention to most of what's happening and that's terrifying enough as it is. But they can't and we shouldn't expect them to either to be honest. So they're gonna go to the polls, a lot of them will have forgotten about the Capitol riot. A lot of them probably don't even know about Trump's plot to steal the election, voting machines.