Political Quotes

“Madam President, there has been a lot of noise about canceling student debt. That has been going on for quite a few months, but it seems to have taken on a new life here within the last week to 10 days. That whole talk is worse than closing the barn door after the horse has escaped; it is like buying a new horse but leaving the barn door open. If all student debt was gone tomorrow, we would be right back where we started when this whole new crop of students graduate. Last month, the administration unilaterally extended all the pause on paying back student loans for all borrowers until the end of August, regardless of need. It doesn't matter that all Americans are back to work now, if they want to be back to work. It doesn't matter if the borrower is making six figures and can afford to pay off their loans. The latest extension will bring the cost of this student loan payment pause up to about $150 billion. Just to put that $150 billion in context, the entire Department of Education budget for this year is about half of that amount at $80 billion. Higher education advocates have been calling for the doubling of the Pell grant. That is the program that targets aid to those with the most financial need. It is a noble goal to double the Pell grant; but, of course, Congress needs to find the money somewhere to do just that.…”