Rep. Alexandria Ocasio-Cortez (D-N.Y.), once again encouraged her progressive allies in Congress to pressure for the cancellation of the million-dollar student debt and the implementation of left-wing policies.
Ocasio-Cortez (AOC) addressed her fellow progressive Democrats to demand that they impose greater pressure to achieve their greatest goal in leftist policies: free education, which will allow them to impose their communist ideology from the state at all levels of education.
“We have to put strong pressure on the Biden administration,” AOC said, according to Fox News. “This whole thing. ’We can’t cancel the student loan debt’ isn’t going to fly.” Ocasio-Cortez said, referring to a comment candidate Biden made last year during an interview.
Sen. Elizabeth Warren (D-Mass.), in tune with AOC’s request, said that if the president wanted to, even without going through Congress, he could under the Higher Education Act order the Department of Education to cancel student loan debt.
What is clear, regardless of who the president is for the next four years, is that there will be a sector of the left that from Congress will try by all means to cancel the student debt.
AOC also has the support of Senate Minority Leader Chuck Schumer (D-N.Y.), who has repeatedly spoken out in favor of canceling the debt.
“We have concluded that President Biden can undo this debt, he can forgive $50,000 of debt for each borrower on the first day he assumes the presidency,” Schumer said Monday, speaking to reporters outside his Manhattan office, as reported by Fox Business. “You don’t need to go to Congress. All you need is the motion of a pen.”
A recent study released by the Committee for a Responsible Budget indicates that paying off the student debt as the left-wing liberals intend to do would cost the United States $1.7 trillion, but only $90 billion real per year would be injected into the economy. This implies a very high cost for the state, in exchange for a small benefit.
Outstanding student loan debt has doubled over the last decade, approaching the massive $1.7 trillion figure. About one in six American adults owe money for student loans. This number makes up the largest amount of non-mortgage debt in the United States, the study reported.
The sectors of the left are pressing for the federal government to pay off the enormous debt contracted, using the excuse of generating relief for the economy in the middle of the crisis that some sectors are experiencing, especially those who lost their jobs due to the closure impositions promoted by the Democratic states.
However, the report is very clear and states: “There are a series of benefits and costs associated with the cancellation of student debt. But as a stimulus measure, its ‘benefit per dollar’ is much smaller than many alternatives under consideration or the already enacted COVID relief.”