Josh Mitchell
speaker
438 appearances
7 recordings
1 series
first heard Jul 2017
last heard Feb 2022
Josh Mitchell’s voice in public audio — every appearance, attributed to the second.
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Appearances
Well, so this could go one of a few ways.
So right now you have congressional Democrats trying to pressure Joe Biden to use executive action where he doesn't have to go through Congress and in his first 100 days to use executive action to forgive a whole lot of student debt.
You have some saying forgive $50,000 for everyone.
Joe Biden has said he wants to forgive $10,000.
He said he wants to do it through Congress.
So he hasn't indicated whether he would do it through executive action.
But if all of a sudden it becomes apparent that this portfolio is not nearly worth as much as Congress thinks it is or has been saying it is, some people could say, well, then that is a bigger argument for forgiving some of this debt.
Because if the government was a private lender and it knew that it had all this toxic debt on its books, it would basically have to write off that debt.
It would have to go to its investors and it would have to say, you know what, we're not going to get paid this
We should acknowledge it up front and we should write it off.
And so this could actually, in its own way, bolster the argument to forgive some of this debt.
Now, the other side of that is if he forgives debt or if Congress forgives some of this debt and it doesn't do anything to reform the lending practices that led to the run-up in student debt in the first place, you're going to simply see another trillion dollars, another trillion and a half dollars in debt five years from now.
And so the question is, okay, so if you forgive debt now, clearly if you keep the same lending practices in place, there's a very big risk that we're going to be in the same spot that the country is in right now five years from now.
So this will definitely influence the discussion over whether to forgive student debt, but there's different ways to come at it, and it's yet to be seen where we're headed here.
Sure, thanks.
There's this bargaining slash haggling process.
It's kind of like when you're buying a car, when you're buying a house.
You have one initial offer, then you do a counteroffer, and this can go on for a while.
No, this has been going on to some extent for years now, at least since the 80s or 1990s.
It's just been happening more and more among families as they become more aware of this process.
Showing 141–160 of 438 · page 8 of 22
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