Quantcast

Radical Dems Demand Student-Loan Amnesty in Next Coronavirus Package

‘Immediately, the Secretary of Education must take over all monthly payments during this public health emergency…’

(Claire Russel, Liberty Headlines) After the House and Senate passed a comprehensive coronavirus funding bill, Rep. Ayanna Pressley, D-Mass., and Sen. Elizabeth Warren, D-Mass., demanded that congressional leadership include student-loan debt cancellation in the next relief package.

Warren argued that canceling student loan debt, even temporarily, would “remove a giant weight that’s dragging down our economy.”

As the coronavirus pandemic spreads across the U.S., leftists have pointed to the federal government’s actions as proof that socialist policies are possible and necessary.

Rep. Alexandria Ocasio–Cortez, D-N.Y., similarly argued earlier this week that the federal government’s economic response to the coronavirus proves student-loan debt can and should be canceled. Economists, however, were quick to point out that Ocasio–Cortez’s rant was a false comparison.

The Federal Reserve is not bailing out the banks, as Ocasio–Cortez suggested. Instead, it’s “lending to banks and strategically purchasing assets,” said Richard Morrison, a fellow at the Competitive Enterprise Institute, according to Fox News.

“The short-term lending the Fed engages in is quickly repaid by the financial institutions in question, even when, as in this case, the Fed has decided to dramatically scale up certain categories of lending in response to a market downturn,” Morrison explained.

TRENDING NOW

Justice Department Hits MS-13 Gang with 500 Convictions, Mostly of Illegal Aliens

The Justice Department has prosecuted nearly 750 MS-13 gang members, the majority of whom are also illegal aliens, according to a report released on...

Mail-in Ballots, Voter Fraud, & Last-Minute Changes Raise Prospect of Drawn-Out Election

(Steve Miller, RealClearInvestigations) Even without Florida’s "hanging chads" of 2000, Trump vs. Biden is already showing signs that it will give Bush vs. Gore...

College Campuses Create Surveillance Apparatuses to Track Students’ Health & Location

(Steve Miller, RealClearInvestigations) Colleges across the country are using new surveillance tools and following movements of students to blunt the spread of COVID-19. But...

Corporations Adopt Anti-White Policies to Fight ‘Structural Racism’

(John Murawski, RealClearInvestigations) A white physician working in Raleigh, N.C., says he has participated in multiple diversity training exercises – including two in the...

Net Migration Falls Since 2017 as ‘Trump Effect’ Outweighs Booming Economy

The Center for Immigration Studies studied data from the 2019 American Community Survey and found that net migration to the United States has fallen...