Sen. Elizabeth Warren likes to describe herself as someone who sides with working people.
To use every tool of the presidency to deliver for"-you guessed it-"Working people." This is the sort of thing that is designed to appeal to Biden's abiding sense that he's just a regular guy whose mission in life is to make life easier for other regular people.
Warren's first suggestion is a policy that would disproportionately benefit a group of people who are, economically speaking, already doing comparatively well.
There may be other, smaller actions in the meantime, like this morning's announcement that the Biden administration will cancel $238 million worth of cosmetology school debt, but Schumer was laying out the end goal: canceling $50,000 of student loan debt per borrower.
The single largest source of student loan debt is MBA programs, as Brookings Institution Senior Fellow Adam Looney has noted, and MBA grads average more than $73,000 in earnings their first year out of school.
What Warren wants, and what Biden appears to be considering, is a massive program of government aid that would disproportionately benefit doctors, lawyers, well-paid medical specialists, and comfortably salaried individuals with advanced business degrees.
For some reason, you don't hear Warren and Biden talking about their plan to give huge amounts of money to corporate lawyers and junior associates at hedge funds.
Friday, April 29, 2022
Elizabeth Warren Wants Joe Biden To Deliver a Massive, Illegal Handout to the Well-Off
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