Schumer : President Biden should cancel student debt today

[BlueCheeseAgain]

16. I'll say this as someone who stands to gain a lot, personally, from cancelling student debt.

Republicans like to give money to the very rich.
Democrats generally like giving money to those who need it the most. Or sometimes, to everyone.

A wholesale cancelling of student debt is out of line with our usual principles. It would take an enormous amount of money (there's no other way of describing $1.7 trillion-- it's larger than the entire Biden stimulus of early 2021, much larger than the $1 trillion infrastructure law, and roughly the same size as the BBB act), and give it to a small fraction of the population. And that part of the population already makes more money than the average American, and is better educated as well.

Of all the ways we can spend $1.7 trillion, targeting this particular group of people just seems the wrong way to go.