Nate

REMINDER: Biden created the student debt crisis. The solution is simple: students who truly can't pay back their student loans should be able to have it discharged in bankruptcy court. That would also force lenders to be less predatory in their lending practices. And it would force universities to make their tuitions more affordable, as lenders refused to make risky, overly-expensive loans. But in 1978, Senator Joe Biden supported the "Middle Income Student Assistance Act", which eliminated income restrictions on federal loans to expand eligibility to all students. He then used that elimination of income restriction to warn of the threat of student debt bankruptcy, and wrote a separate bill later that year to block students from filing bankruptcy on those loans. The income restrictions were reinstated in 1981. He then went on to vote for bills which extended loan eligibility to students with no parental financial support. In 1984, Biden used his senior position in the Judiciary Committee to extend bankruptcy exemptions to vocational schools as well. And now that he's created the debt crisis that everyone with common sense warned would happen, he's trying again to use it as an excuse to assert powers that his office does not have. Because that's what politicians always do: create a crisis, and then grandstand on your suffering that he caused in order to push for more power and more of your money. To this day, he still won't push for Congress to end the bankruptcy exemption for student loans, for a very simple reason: He doesn't want the crisis to end. He wants it to worsen, so he can exploit it for more power. Read all about Biden's role in the crisis here: theintercept.com/2020/01/07/…