Biden’s New Plan to Cancel Student Debt

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 9 April 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Biden administration is proposing a sweeping initiative to slash student debt for nearly 30 million borrowers. WSJ’s Andrew Restuccia unpacks the proposal and explains why it marks a major new White House effort to try to appeal to progressives and young voters seven months before the November election. Further Listening: - Breaking Down Student Debt Relief - How Biden Plans to Tackle Student Debt Further Reading: - Biden’s Student-Loan Plan Seeks to Slash Debt for 30 Million Americans Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Yesterday.
0:07.0	Hello is Kossi.
0:11.0	President Joe Biden was in Madison to make an announcement.
0:15.0	He was unveiling a new program to cancel student debt.
0:19.0	I will never stop to deliver student debt relief and hardworking Americans, and it's only in the interest of
0:23.8	America that we do it and again it's for the good of our economy.
0:29.3	This feels like something the Biden administration has tried before.
0:32.9	It feels like deja vu.
0:34.8	Yeah, if it feels familiar, that's because it is.
0:37.6	They tried, you know, but the Supreme Court struck it down.
0:41.0	So what they did is they decided to try again. They believe that it'll
0:44.8	stand the test of the courts this time. That's our colleague Andrew Restusha.
0:50.6	He covers domestic policy. Why is he doing this again? Like isn't this kind of
0:57.8	risky to be doing this in an election year? President Biden is trailing his Republican opponent Donald Trump in most polls, and he is
1:09.8	underperforming in particular among young people which are traditionally a solid democratic, reliable constituency.
1:17.0	And that's a problem. I mean if Biden wants to win the election he can't lose any of these key reliably Democratic groups.
1:24.0	You know, what's the biggest group of people who have student loans?
1:27.0	That's young people.
1:31.0	Welcome to the journal, our show about money, business, and power. I'm Kate
1:36.9	Limbaugh. It's Tuesday, April 9th. Coming up on the show, why Biden is trying again to cancel student debt. This episode is brought to you by Empower.
2:04.0	If you're like most people, you've had your fair share of financial questions.
2:08.0	Questions like, will you be able to afford a third kid?
	...

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