CNN: White House 'leaning toward' canceling up to $10,000 in student loan debt

The White House has been playing footsie with this issue for a while now, and it’s a tough call. Sure, a lot of people who have student loans forgiven will line up to vote for you, but people who either didn’t go to college or paid off their student loans aren’t likely to be happy about it. That doesn’t even take into account those who say $10,000 is nothing, and they want President Joe Biden to cancel all student debt.

A source tells CNN that Biden is expected to announce Wednesday the cancellation of up to $10,000 in student loan debt for those making less than $125,000 a year. Earlier, we posted a thread that surmised that canceling student loans “would be like taking money from a plumber to pay the debt of a lawyer,” as a majority of student loans are held by people who attended graduate school. And if you took out loans for a Ph.D. in Gender Studies, chances are you aren’t making $125,000 a year.

https://twitter.com/CNNPolitics/status/1562144661120196610

Also the IRS is coming for your kid's lemonade stand https://t.co/HuZhladVCM

— jimtreacher.substack.com (@jtLOL) August 23, 2022

Fun fact: this doesn't cancel any student debt, it just sends the bill to somebody elsehttps://t.co/tDyTJl4khi

— David Burge (@iowahawkblog) August 23, 2022

Saying the debt is "canceled" makes it seem victimless. It just goes away!

It doesn't. They're just making *you* pay for it, instead of the people who took out the loans. https://t.co/LUE5NHwjK2

— Logan Dobson (@LoganDobson) August 23, 2022

The White House will announce on Wednesday the transfer of wealth of up to $10,000 from tax payers that pay their bills to "borrowers" that don't.

There, fixed it for you CNN. https://t.co/xRzOlcDezE

— Hammy ✈🇺🇲 (@e2pilot) August 23, 2022

I doubt this is enough to satisfy any of the bratty lefty professionals who want the government to cover their Masters in Literature. But it is enough to upset a lot of normie hardworking Americans who made responsible decisions about college debt. https://t.co/nI8QwhTUhi

— John Maverick (@JohnMaverickTX) August 23, 2022

Hey, this editor has a master’s in literature. No student loans, though.

Unbelievable. Double major in lesbian studies and French history and have someone else who chose to work for a living pick up the tab. Wake up people. https://t.co/xJzJu6s9e8

— Craig Kafir (@CraigLNU) August 23, 2022

Student debt cancellation is one of the slipperiest slopes I can think of. Between Covid and this we're headed directly towards "no one should ever have a bad outcome," which is also related to so-called "equity." Everything is stupid and we're doomed. https://t.co/fTWbgKLBx0

— Matt Fitzgerald (@mattfitzct) August 23, 2022

So Biden is going to piss off both sides: those complaining about "handouts" and those of us demanding full cancellation as a means of promoting equity and justice. Nobody better at kicking themselves in the butt than centrist-Democrats. https://t.co/E1Jzw7RCKJ

— G 🏳️‍🌈🌹 (@nospokenwords) August 23, 2022

It's a very Biden move to choose the path that will make basically everyone angry. https://t.co/gdSEueMwnL

— Breathtaking Inanity (@breathtkinan) August 23, 2022

A lot of people are hung up on that “up to” $10,000. Up to $10,000 is not canceling all student debt; as people said above, it’s enough to tick off people who don’t have student loans, but not enough to satisfy the “cancel all student debt” crowd.

Related:

‘Takes money from a plumber to pay the debt of a lawyer’: BRUTAL thread takes Biden’s plan to cancel student loan debt APARThttps://t.co/tt9QDsFrSq

— Twitchy Team (@TwitchyTeam) August 23, 2022