The Daily’s Stacey Cowley discusses President Biden’s proposed plan to cancel significant amounts of student loan debt for tens of millions of Americans, the intense debate it has generated, and how it could transform the way Americans pay for higher education.
A recent NBC poll reveals that only 21% of Americans say they will definitely vote for Joe Biden in the upcoming election, which could affect voter turnout. Additionally, an Associated Press poll found that only 26% of Americans overall would like to see him seek a second term.
The speaker discusses the lack of confidence in the federal bureaucracy and its ability to handle the current issues, and mentions the aggressive legislative agenda to paint Biden as the next Roosevelt.
The author believes that while Biden's personal characteristics helped him unify the country in 2020, he now risks being seen as a passive and risk-averse figure who isn't keeping up with emerging challenges. However, the passage of a $2 trillion dollar relief bill, the vaccination program, and the return to work are signs of progress for the country under his leadership.
The US government's debt service costs amount to around $150 billion per year. Despite the Republican party's reputation for cutting government spending, the deficit has continued to rise.