{"id":145551,"date":"2021-02-18T13:04:04","date_gmt":"2021-02-18T18:04:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=145551"},"modified":"2021-02-18T13:13:19","modified_gmt":"2021-02-18T18:13:19","slug":"white-house-backtracks-after-biden-blasted-for-saying-he-wont-forgive-50k-in-student-loan-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-backtracks-after-biden-blasted-for-saying-he-wont-forgive-50k-in-student-loan-debt\/","title":{"rendered":"White House Backtracks After Biden Blasted For Saying He Won\u2019t Forgive $50K In Student Loan Debt"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhite-house-backtracks-after-biden-blasted-for-saying-he-wont-forgive-50k-in-student-loan-debt%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=145551&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/02\/GettyImages-1205520984.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>The White House is on the defensive following backlash over President Joe Biden\u2019s comments dismissing the possibility of forgiving up to $50,000 in student loan debt \u2014 a plan backed by Senate Democrats and a number of progressive lawmakers.<\/p>\n<p><a href=\"https:\/\/www.dailywire.com\/news\/ocasio-cortez-fires-back-after-biden-rejects-proposal-to-cancel-50k-in-student-loan-debt?%3Futm_source=facebook&amp;utm_medium=social&amp;utm_campaign=tconservative\">Biden told his audience, in a town hall held Tuesday night<\/a>, that he would not sign on to a plan to forgive $50,000 in student loan debt for individual federal borrowers, telling a questioner, bluntly, that, \u201cI will not make that happen.\u201d<\/p>\n<p>\u201cMy point is: I understand the impact of debt, and it can be debilitating,\u201d Biden said, noting that his children were among those who incurred hundreds of thousands in student debt from undergraduate and graduate studies. \u201cI am prepared to write off the $10,000 debt but not fifty because I don\u2019t think I have the authority to do it.\u201d<\/p>\n<p>The White House believes that Biden is able, under authority ceded to him under the Higher Education Act, to forgive around $10,000 per individual federal student loan borrower through an executive order, but that forgiving any amount above that must go through Congress.<\/p>\n<p>The comments triggered an angry response from Democratic socialist Rep. Alexandria Ocasio-Cortez (D-NY) who opened a public rift with President Biden over Twitter.<\/p>\n<p>\u201cThe case against student loan forgiveness is looking shakier by the day,\u201d Ocasio-Cortez said. \u201cWe\u2019ve got the *Senate Majority Leader* on board to forgive $50k. Biden\u2019s holding back, but many of the arguments against it just don\u2019t hold water on close inspection. We can and should do it. Keep pushing!\u201d<\/p>\n<p>She was not alone, though. Later in the day, Senate Majority Leader Chuck Schumer (D-NY), joined the chorus of voices demanding Biden think bigger and bolder.<\/p>\n<p>\u201cPresident Biden has the power to cancel student loan debt by executive action,\u201d&nbsp;Schumer tweeted. \u201cIt would help close the racial wealth gap, and give a big boost to families and our economy.\u201d<\/p>\n<p>\u201cAn ocean of student loan debt is holding back 43 million borrowers and disproportionately weighing down Black and Brown Americans,\u201d Schumer added in a later statement, authored with Sen. Elizabeth Warren (D-MA). \u201cCancelling $50,000 in federal student loan debt will help close the racial wealth gap, benefit the 40% of borrowers who do not have a college degree, and help stimulate the economy.\u201d<\/p>\n<p>Schumer likely backs the plan because he wants student loan forgiveness but believes such a generous bailout will not pass the Senate, where Republicans have at least 50 votes.<\/p>\n<p>The White House, though, clearly concerned about Democrats, backtracked furiously late Wednesday, offering to \u201cexplore\u201d the possibility of forgiving more than $10,000.<\/p>\n<p>\u201cOnce his team is in place at the Justice Department, he will ask them to conduct a legal review of his authority to act by executive action in conjunction with a policy review from his Domestic Policy Council on how executive action debt relief, if any, should be targeted,\u201d White House press secretary Jen Psaki said in a press conference Wednesday afternoon.<\/p>\n<p>She reiterated that the president is unlikely to support a blanket $50,000-per-borrower bailout.<\/p>\n<p>\u201cHe doesn\u2019t favor $50,000 in student loan relief without limitation,\u201d she said.<\/p>\n<p>Ocasio-Cortez has already addressed that stipulation, however, calling the restriction discriminatory.<\/p>\n<p>\u201cWho cares what school someone went to? Entire generations of working-class kids were encouraged to go into more debt under the guise of elitism,\u201d she said. \u201cThis is wrong. Nowhere does it say we must trade-off early childhood education for student loan forgiveness. We can have both.\u201d<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming&nbsp;<a href=\"https:\/\/www.dailywire.com\/subscribe\">a member<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The White House is on the defensive following backlash over President Joe Biden\u2019s comments dismissing the possibility of forgiving up to $50,000 in student loan debt \u2014 a plan backed &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2181486,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/02\/GettyImages-1205520984.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"White House Backtracks After Biden Blasted For Saying He Won\u2019t Forgive $50K In Student Loan Debt","footnotes":""},"categories":[],"tags":[],"class_list":["post-145551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/02\/GettyImages-1205520984.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"White House Backtracks After Biden Blasted For Saying He Won\u2019t Forgive $50K In Student Loan Debt","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/145551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=145551"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/145551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2181486"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=145551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=145551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=145551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}