There is some hope, perhaps that this student debt relief could be reformulated.
Here is Joe Biden talking about that?
>> First, I'm announcing today a new path consistent with today's ruling to provide
student debt relief to as many borrowers as possible, as quickly as possible.
We will ground this new approach in a different law than my original plan.
The so called Higher Education Act, that will allow Secretary Cardona,
who's with me today, to compromise, waive, or
release loans under certain circumstances.
This new path is legally sound, it's gonna take longer, but in my view, it's the best
path that remains to providing for as many borrowers as possible with debt relief.
I've directed my team to move as quickly as possible under the law.
Just moments ago,
Secretary Cardona took the first step to initiate that new approach.
>> So in crazy times like this,
where the Supreme Court is making these massive decisions,
like getting rid of student debt, that's what you want out of your president.
You want a president to come out fighting.
He can barely contain how furious he is about what the Supreme Court is doing
there.
You can tell by the fact that he's talking like this.
Anyway, the substance of what he's saying implies that
he understands what many have been saying throughout today and
have been advocating for for literally years that he should not have
gone about student debt relief in the particular way that he did that.
That there are other ways that you can pursue it, other laws that have already
withstood judicial scrutiny, or at least judicial scrutiny outside of this
Supreme Court, which, again, doesn't feel like it needs to abide by any precedent.
And so there is at least some hope.
But what do you think?
>> Yeah, so look, my real opinion and
honest opinion is that Joe Biden's throwing the game.
He never really wanted to do this, and I say that based on his previous
statements about student debt and how incredible skeptical he was.
And then right before the election when his consultants convinced them, yeah,
young voters made a difference,
that's why you won the presidential election in the first place in 2020.
So right before the 2022 midterms, he's, yeah, I will do this, but
don't worry, the Supreme Court is gonna handle it, you know what I'm saying?
Okay, to his donors, but to the young voters, I'm on your side.
Now, look, I'm gonna reserve judgment because there are some that are super
obvious with Biden, I'm for minimum wage the minute he gets into office, no,
I'm not.
No, it's not gonna make it.
It's not gonna make it, right?
And he sends his top allies to vote against it.
Super clear, right?
This one, it's a little bit in the middle because at least they tried something,
which is we have the lowest bar in the world for Democratic leaders, right?
But he took one step forward, a step he thought he was gonna lose on, and
today he did lose on, and so I got to say, well, that's better than the usual.
And of course, mainstream media will be saying he's a great fighter for students,
and he's trying all these, and not they will say that, they have said that.
Every article I've read today says, Biden, but with getting back into the fight now,
fighting really hard, got to do it another way, okay?
Because they got to do marketing.
And so to give you a sense of what Democratic leaders actually think, though,
I wanna tell you something that the majority opinion quoted.
Someone they quoted, it was a very important leader on the Hill.
So Mitch McConnell, Kevin McCarthy to support their opinion.
No Nancy Pelosi.
Here's Pelosi's quote, people think that the President of
the United States has the power for debt forgiveness.
He does not.
He can postpone.
He can delay.
But he does not have that power.
That has to be an act of Congress.
That is Nancy Pelosi.
And so the majority was, look, even the former speaker of the House, one of
the top Democratic leaders, says that you guys are lying and that you can't do this.
I mean, if you guys agree that you can't do this, we're gonna vote no,
that you can't.
Thank you very much.
Do you see mainstream media going nuts about how Nancy Pelosi betrayed you, and
how she threw the case and helped the Republicans win?
You think she doesn't?
And when she said that statement, we came on the show and
said, that's gonna hurt us.
Don't say that, that's gonna hurt us.
>> Even though she's dead wrong.
>> She's 100% wrong.
>> It's irrelevant that she's wrong.
>> 100% wrong.
Show me a New York Times or CNN piece that says Nancy Pelosi betrayed her own voters,
betrayed them on this issue.
She's the one that torpedoes student debt relief,
and she's totally wrong on the Constitution of the facts.
You won't find one cuz they're too busy kissing her ass.
No, these Democratic leaders are not on your side.
They just aren't.
This is their dream come true, where they tell the donors, don't worry,
we didn't do anything, okay?
Nothing will fundamentally change, and then go to the voters and go, we tried.
We tried, the Supreme Court.
There was nothing we could do.
Their favorite statement of all time.
So that's your synopsis of what happened here.
Yes, ma'am.
>> Yeah, and the Republicans are kind of enviable in their ability to kind of rally
around an idea and
to rally around whatever it is that they're trying to get pushed.
They will put in decades, years, if they have to, just to put forth whatever
initiative that they're after, whether that's Roe v Wade or whatever.
But what we need more from the Democrats is more of that.
There's a lot that we can learn from the Republicans.
The Republicans love to fight dirty, and more often than not, mostly,
unfortunately, they don't really see a whole lot of repercussions for doing so.
The Democrats need to take a note, take a hint from the Republicans,
fight a little bit dirtier and fight a little bit stronger.
I think part of the reason why Joe Biden didn't seem more disappointed today is
because he's not disappointed today.
And whether that's because he didn't actually want this to go through or
maybe he just didn't expect it to go through is kind of irrelevant.
But hopefully that there is some kind of pivot.
I know that this isn't the only blow that higher education has taken today,
but the hope for a more equitable tomorrow is not very high right now.
The government can still tackle this issue from a few other angles while working on
student loan forgiveness.
If they choose to continue this fight, they can look into why higher education is
so expensive and work to bring those costs down.
They can try to find alternative ways to make it more accessible to lower income
communities and
now to minority communities because they'll need help going forward as well.
And I feel like I always come back to this.
We have to invest more into our public school systems.
Equity in education, I think, starts at the bottom, not at the top,
we're talking about higher education right now, starts at the bottom.
And there are steps that we can take right now to make public schools
actual pipelines to colleges and universities so
that those students can go on to have good careers, good lives after the fact.
>> Yeah, and the last thing I'll say on this is that,
the Democrats fighting dirty or hard, I mean, we're continents away from that.
I'll just take them not fighting for the other side, right?
Nancy Pelosi saying, hey,
let me make the Republican case about how this is, we can't do this.
Oops, did I throw the case?
[LAUGH].
And you remember Nancy Pelosi does this on every issue, on Green New Deal, which was
polling at 80% at the time, she said they call it Green Dream or whatever, okay?
And she was completely dismissive because she takes tons of bribes from oil and
gas companies.
Tons of millions of dollars in bribes.
I'm sorry, campaign contributions, mainstream media, are you happy?
I know she's a saint.
That and all the insider trading wouldn't affect her at all.
She just genuinely thinks the Republicans are always right.
>> Yeah, she did the clap, though.
>> That was cool.
When she ripped papers, so strong.
>> The papers, that was strong.
>> So performative.
>> I just want to read really quickly two more graphics so
that when they attempt this second way to cancel student debt and
the Supreme Court totally reverses on a dime, it'll be slightly more ironic.
At the end of March, three schools asked the Supreme Court to halt $6
billion in debt relief for 200,000 different student-loan borrowers.
That's a settlement that Education Department agreed to last summer.
So former President Donald Trump actually initiated this lawsuit.
It was inherited by Joe Biden when he became President on behalf of borrowers
whose borrower defense claims had been stalled at that point.
The Supreme Court rejected their request, allowing the relief to move forward.
That means that at least five of the justices disagreed with the school's
claims that Biden cannot cancel student debt under the Higher Education Act.
That's the act that activists now want him to use.
So at least five of them have said, yes.
They have the capacity under this to cancel literally billions of
dollars of debt.
They're gonna find some way to reverse on that coming up soon.
But I wanna say just one more final thing,
because I know that everybody in the right is ecstatic about this.
And the interesting thing about any group, once you get up to a group size of
hundreds of thousands, millions of people, is that it's relatively diverse.
And by that I mean there are many conservatives burdened by thousands,
tens of thousands of dollars in debt who I guess are happy about this.
Everybody that they respect and look up to in politics, in the media,
is happy about this.
How many young conservatives that think that Charlie Kirk is, clever or
funny or whatever, yeah, they stopped it.
And then they look at their bank account and
they see the payments that they have to make every month and
that they will have to make every month for years, possibly for decades.
Now, they'll have a lot of time to make those payments and
work towards those payments, because if the right gets their way,
their retirement is going to be pushed back multiple years.
And how do you live your life seeing that every single financial effect that
the people that you look up to most sets you back, holds you down,
stops you from living the best life that you could,
having the quality of life that you deserve,
being able to someday set the weight down and retire, spend time with your family?
And that they are cheering for you to be held back in every one of those instances.
And today, they're cheering.
They're cheering despite the bank account where they owe thousands of dollars,
they can't afford to buy a car, buy a house, start a business,
move to a different state.
They're cheering their own subjugation.
>> Meanwhile, Congress approved trillions in debt relief for
the bankers back in 2008 when the economy crashed.
And then hundreds of billions more for
businesses during COVID, all that debt was relieved.
And the top companies, the richest companies in the world,
got to take home the profits and the debt relief, and yet
the right wing couldn't find a way to protest it.
They started by saying, yeah, we're gonna do a tea party.
We're so mad that the bankers are getting bailed out.
And did they do one protest on Wall Street?
Not one, zero, zero.
You know what they did instead?
Obamacare believe you guys are gonna give us more healthcare.
So what happened?
So the bankers getting trillions, that's okay, but
the average American getting a debt relief, God forbid.
God forbid.
And you're celebrating today that you yourself got screwed.
Congratulations.