#1513 The Morality of Debt and Forgiveness
Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy
Jay Tomlinson
4.5 • 3.4K Ratings
🗓️ 14 September 2022
⏱️ 57 minutes
🧾️ Download transcript
Summary
Air Date 9/14/2022
Today, we take a look at the history and hysteria behind debt and debt forgiveness while Biden is canceling student debt and opponents of the idea are reacting in the most predictable way possible because they misunderstand the relationship between debt and morality.
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SHOW NOTES
We speak to Astra Taylor, writer, filmmaker, and co-director of the Debt Collective, a union for debtors and one of the original advocates for a debt jubilee that would cancel all student debt.
Ch. 2: Freedom Dreams: Black Women and the Student Debt Crisis - The Intercept - Air Date 8-22-22
The Intercept’s new documentary, “Freedom Dreams: Black Women and the Student Debt Crisis,” profiles Black women educators and activists struggling under the weight of tens of thousands, or even hundreds of thousands, in student loan debt.
Ch. 3: Hidden History of Student Debt - Thom Hartmann Program - Air Date 8-25-22
Many woke up to find news that $10k of their student debt would be forgiven, Thom Hartmann and Jefferson Smith break down what this means and what happens next.
Max breaks down the politics, the details, and biggest misses of the Biden student debt relief plan and why it’s in danger of being PITOTWIU
Florida Representative Michael Waltz believes the military recruiting crisis will worsen with President Biden’s student loan forgiveness. He also believes it is unfair to those who have not incurred debt.
Ch. 6: Forgiving (and Unforgiving) Debts - Now & Then - Air Date 9-6-22
Heather and Joanne discuss the history of debtors’ prisons in early America, the rise of bankruptcy laws after the Civil War, and the Cold War origins of federal student loans.
MEMBERS-ONLY BONUS CLIP(S)
Ch. 10: Forgiving (and Unforgiving) Debts Part 2 - Now & Then - Air Date 9-6-22
FINAL COMMENTS
Ch. 11: Final comments on morality and money
MUSIC (Blue Dot Sessions):
- Opening Theme: Loving Acoustic Instrumental by John Douglas Orr
- Voicemail Music: Low Key Lost Feeling Electro by Alex Stinnent
- Activism Music: This Fickle World by Theo Bard (https://theobard.bandcamp.com/track/this-fickle-world)
- Closing Music: Upbeat Laid Back Indie Rock by Alex Stinnent
SHOW IMAGE:
Description: A dark gray, 3D image of the word "DEBT" sits in a white void, a connected chain and open shackle with an open padlock lie in front of it.
Credit: "3D Shackled Debt" by Chris Potter, Flickr | License: CC by 2.0 | Changes: Enlarged with more white background
Produced by Jay! Tomlinson
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Transcript
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| 0:00.0 | Welcome to this episode of the award-winning Best of Left podcast in which we shall take |
| 0:07.0 | a look at the history and hysteria behind debt and debt forgiveness, while Biden is canceling |
| 0:12.8 | student debt and opponents of the idea are reacting in the most predictable way possible |
| 0:18.4 | because they misunderstand the relationship between debt and morality. |
| 0:23.4 | Clips today are from Democracy Now, The Intercept, the Tom Hartman program, on Effing the |
| 0:29.3 | Republic, the majority report, and now and then with additional members' only clips |
| 0:35.1 | from Uneffing the Republic, and now and then, and stay tuned at the end of the show for |
| 0:39.8 | my explanation of how money fundamentally warps our sense of morality. |
| 0:51.2 | President Biden's announced plans to cancel as much as $20,000 in student debt per borrower |
| 0:58.0 | to help as many as 40 million people. |
| 1:01.7 | The president outlined his plan during a speech at the White House Wednesday. |
| 1:05.1 | If you make under $125,000, you get $10,000 knocked off your student debt. |
| 1:11.5 | If you make under $125,000 a year and you receive the Pell Grant, you'll get an additional |
| 1:17.7 | $10,000 knocked off that total, for a total of $20,000 relief. |
| 1:23.7 | 95% of the borrowers can benefit from these actions. |
| 1:28.7 | That's 43 million people. |
| 1:32.5 | Of the 43 million, over 60% of Pell Grant recipients, that's 27 million people who will get |
| 1:39.1 | $20,000 in debt relief. |
| 1:41.8 | Only 45% can have their student debt fully canceled. |
| 1:46.9 | That's 20 million people who can start getting on with their lives. |
| 1:51.5 | President Biden also announced plans to extend a moratorium on all federal student loan payments |
| 1:56.5 | through the end of this year. |
... |
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