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You’re racist if you don’t cancel student loans

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According to the Federal Reserve, over half of young adults who went to college during the 2018-2019 academic year took out student loans – that’s 54% to be exact. 

Of those, only 10% with a bachelor’s degree are behind on payments. 

Loans aren’t limited to just one group; students of all races, religions, ethnicities and socioeconomic backgrounds take them out. 

But, “Squad” member Rep. Ayanna Pressley (D-Mass) said that cancelling student loans and racism are directly correlated. 

“Even if we wipe out all student debt tomorrow, the devastating impact on consumers’ credit will remain for many years to come. Let me be clear, we must wipe out that debt,” she said in a speech at the Consumer Federation of America’s annual financial services conference last week, Just The News reports. 

“Student loan cancellation is a matter of racial and economic justice,” she continued. “Across our country, black student borrowers are forced to borrow more than their white peers, and are five times more likely to default on a student loan.” 

Essentially, if you don’t cancel student loans, you’re racist. 

Pressley, a member of the House Financial Services Committee, noted that she proposed the House-passed Student Borrower Credit Improvement Act, which she said would “establish a credit rehabilitation process for private student loan borrowers facing hardship, making students eligible to have all associated derogatory marks removed from their credit reports.” 

Senate Minority Leader Chuck Schumer argued in a recent interview that Biden could implement his student debt forgiveness proposal without congressional action. 

“I have a proposal with Elizabeth Warren that the first $50,000 of debt be vanquished, and we believe that Joe Biden can do that with the pen as opposed to legislation,” he said. 

While cancelling student debt may seem like a dream, logistically it wouldn’t be. 

Ultimately, it would create what economists call “moral hazard,” or in other words incentivizing bad decisions people make when they think someone else – taxpayers – will pick up the bill. Getting rid of student debt would also be taxable, which would cut into any stimulative effect on the economy. 

In terms of racial equality within education and the economy, it’s not about debt forgiveness; rather, Leo Terrell argues that school choice is the critical path forward.

“Education is the key to breaking the poverty cycle and the new civil rights issues that people of color face,” Terrell said. “A good education will give you every opportunity in the world and all the promises of this country,” he added. “School choice is the key to improve the economic opportunities of all Americans.”

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1 Comment

1 Comment

  1. R Bird

    December 16, 2020 at 10:59 am

    Ayana Pressley makes an absolutely absurd argument. She says, “Student loan cancellation is a matter of racial and economic justice,” she continued. “Across our country, black student borrowers are forced to borrow more than their white peers, and are five times more likely to default on a student loan.” Really? How is canceling student loans just and fair to all races in America that will be stuck with the tax burden of repaying all those loans? Exactly who FORCED black students to borrow more than white students? And isn’t it the fault of every student that defaults on a student loan and no one else? Does someone’s skin color matter when they default on a loan? Pressley has no common sense and neither does anyone that voted for her. The solution is simple. Require people to be responsible for their own actions and pay their own debt or they will never be productive adults and citizens.

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Politics

DeSantis Directs Secretary Of State To Investigate Facebook For Election Interference

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Facebook

Florida Governor Ron DeSantis (R) has directed Florida Secretary of State Laurel M. Lee to investigate Facebook for alleged election interference after recent reports suggesting that Facebook impacted the results of state and local elections.

“I hereby direct that your office immediately investigate this alleged election interference caused by Facebook through its whitelisting program – and any other previously undisclosed program within Facebook – in order to determine whether any violations of Florida’s election laws took place,” DeSantis said in a letter to Lee. “Your office should use all legal means to uncover any such violations, including but not limited to, issuing subpoenas, conducting witness interviews, reviewing all available information and consulting with law enforcement.”

“The thought of technology companies clandestinely manipulating elections is an affront to the basic principles of our republic,” DeSantis added. “Floridians deserve to have faith that their elections are fair and free from intrusion by Big Tech monopolies like Facebook.”

DeSantis cited a recent report from the Wall Street Journal, which found that Facebook has a secret list of users that are not subject to Facebook’s content posting rules.

“According to a review of internal Facebook documents conducted by the Wall Street Journal, Facebook has created a shadow list of certain users who are immune from Facebook’s enforcement actions on posting content,” DeSantis wrote. “These elites – selected by Facebook behind closed doors – are able to post material without being subject to the opaque review process that normal users endure. This “whitelist” effectively creates two classes of speakers on Facebook’s platform: those who are privileged and those who are not.”

According to the Wall Street Journal report, “While the program included most government officials, it didn’t include all candidates for public office, at times effectively granting incumbents in elections an advantage over challengers. The discrepancy was most prevalent in state and local races, the documents show, and employees worried Facebook could be subject to accusations of favoritism.”

DeSantis’ office said in a press release, “If the Wall Street Journal report is accurate, Facebook has created a privileged class of speakers and has empowered them to manipulate our elections with impunity. Even more disturbing, these elite users on Facebook’s ‘whitelist’ were allegedly selected by the tech giant behind closed doors. The selection process, scope, and real-world influence of the whitelist is concealed from the public and known only to Facebook. If true, this process may have provided a benefit to incumbent elected politicians over their challengers in state and local elections.”

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COVID-19

BLM Leader Vows to ‘Abolish’ NYC Mayor De Blasio’s Vax Passports

Says ‘Free Pass to Racism’,  ‘Modern-Day Freedom Papers’

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Chivona Newsome

New York Mayor Bill De Blasio’s vaccine mandates and consequential vaccine passports necessary to enter most bars and restaurants in the city are being dubbed racist by a Black Lives Matter leader.

Chivona Newsome co-founded the Greater New York Chapter of BLM and also ran as a congressional candidate in 2020 for New York’s 15th district sent a statement to Fox News explaining the claims of racism.

“Although Mayor Bill De Blasio ran on progressives values, nothing in his tenure will attest to his campaign promises,” Newsome stated. “The September 13th vaccine mandate is racist and specifically targets Black New Yorkers. The vaccination passports are modern-day Freedom Papers, which limit the free will of Black people.”

De Blasio’s mandates went into effect September 13, ordering indoor establishments making patrons show proof of vaccination before entering. Businesses can face fines up to $5,000 for not complying. On September 20, the Mayor’s office announced it had already issued 3,200 warnings to businesses in the first week.

Newsome continued, “The vaccination mandates infringe upon the civil liberties of the Black community…It’s more than where we can dine or enjoy entertainment, it will result in loss of income. As of Monday, September 27, Black health care workers and educators will lose their jobs.”

Newsome’s concerns for minorities and repercussions such as losing jobs is the same reasoning hundreds of groups and unions across the country have stood up against Biden’s vaccine mandate. Postal workers, Police unions, Nurse Unions and Hospital administrators are all amongst those expressing outrage.

Newsome says De Blasio’s actions are a direct attack on black Americans, and he “chose to disenfranchise and force the very people who elected him into poverty and second-class citizenship.”

She explained that de Blasio is, “fully aware of the hesitancy and distrust people of African descent have about vaccination and their interactions with government and law enforcement.” Newsome concluded, “the vaccination passport will not be a free pass to racism. Our organization pledges to demonstrate until the vaccine mandate is abolished.”

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