BREAKDOWN: Student Debt Relief Shows Why All Politics Is Now an Inflation Debate
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 24 August 2022
⏱️ 20 minutes
🧾️ Download transcript
Summary
As President Joe Biden prepares to approve student debt relief, 59% of Americans are worried doing so will increase inflation.
This episode is sponsored by Nexo.io, Chainalysis and FTX US.
According to reports, U.S. President Joe Biden is about to finally take action on student debt relief, wiping away $10,000 in federal debt for those making less than $125,000 a year (or $250,000 as a married couple). While the debate started on the campaign trail in 2020 as one of economic fairness and justice, today it is almost entirely about the potential impacts on inflation.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “The Now” by Aaron Sprinkle and “The Life We Had” by Moments. Image credit: Nuthawut Somsuk/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.2 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:14.8 | The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk. |
| 0:22.8 | What's going on, guys? It is Wednesday, August 24th, and today we are talking about student |
| 0:27.4 | debt and the politics of inflation. A quick note before we dive in, however, there are two ways |
| 0:33.7 | to listen to the Breakdown podcast. You can listen each and every afternoon on the |
| 0:37.9 | Coin Desk Podcast Network, which features not only the breakdown but other great Coin Desk shows, |
| 0:42.6 | or if you want the breakdown only feed, that show comes out a few hours later in the evening. |
| 0:47.6 | Wherever you listen, I would so appreciate if you took the time to leave a rating or a review. |
| 0:51.8 | It makes a huge difference in terms of new people finding the show, and I appreciate each and every one of you who takes the time to do that. |
| 0:57.8 | Also, a disclosure, as always, in addition to them being a sponsor of the show, I also work with |
| 1:01.9 | FtX. And finally, I want to tell you about CoinDesk's new event, the investing in digital |
| 1:07.0 | enterprises and asset summits or ideas, which is designed to facilitate capital flow |
| 1:12.4 | and market growth by connecting the digital economy with traditional finance. Join |
| 1:16.8 | CoinDesk October 18th and 19th in New York City for a 360-degree investment experience, |
| 1:22.4 | where you can source, invest, and secure the next big deal in digital assets. Use code breakdown 20 for 20% off a general |
| 1:29.1 | pass and register today at coin desk.com slash ideas. All right, today we're talking about the |
| 1:35.5 | debate around student debt forgiveness in the United States. And if you're wondering why we're |
| 1:40.2 | talking about this one seemingly specific political issue, maybe it feels disconnected from |
| 1:44.9 | our normal fodder, it is for one very specific reason. The student loan debate shows that in |
| 1:50.4 | times of high inflation, everything becomes about inflation. So what I hope to do today is not |
| 1:56.9 | to list my personal positions on student debt, but instead, I want this to effectively be a |
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