Political Cartoon

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BREAKING: President Biden makes a stunning announcement that his administration will forgive $39 billion in student debt for 804,000 borrowers.

This historic relief will be provided on income-driven repayment plans, in which the federal government cancels borrowers' outstanding balances after they have made their payments for 20 or 25 years.

In the past, there were cracks in this system that meant some payments that should have moved borrowers towards being debt-free were not properly accounted for. This move aims to fix that issue.

MAGA world is furious because they thought that the Republican-controlled Supreme Court's ruling to block Biden's original debt forgiveness plan was the end of the story. But Biden doesn't give up so easily.

Biden's Education Department will notify eligible borrowers in the coming days. It cannot be stressed enough what a big deal this is. The lives of 804,000 hard-working Americans are about to be substantially improved.

Bidenomics is all about growing the middle class rather than shoveling tax cuts to the rich.

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