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this post was submitted on 05 Apr 2024
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https://educationdata.org/student-loan-debt-statistics
Best of luck trying to eliminate the problem you helped create, Joe. Looks like you made a nice little dent in 2023!
Prior to 2020, that line has an r^2 of 1, so I'd say he's doing a great job at breaking the trend.
He's doing a lot more than any Republican would ever do.
He better, seeing as how he was a critical part of the problem: https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
People in here really want us to give the guy a medal for making bare minimum fixes to a problem he created.
Damn, sorry we're not single mindedly hate filled towards the guy
Nope, just single-mindedly hate-filled towards anyone who dares to criticize dear leader. Just look at the mindless downvotes, including for posts pointing out simple facts. The student loan problem was caused in large part by biden himself, he shouldn't be given a free pass for half-assedly attempting to barely scratch the surface of the problem he created.
It’s more than “pointing out simple facts”. It’s an onslaught of ‘he’s not doing enough’ or ‘yea but look at what he did before’ and absolutely ignoring the fact that what he’s doing now is in the right direction.
I’m sick of all of the ‘yea buts’ I keep seeing in the comments rather than credit where credit is due. I gave Trump credit when he did the right thing, and Biden is due the same. It’s ok, good even, to be critical, but this isn’t criticism, it’s cynicism.
🎯
Have you considered that biden is actually not doing enough and that he in fact is barely making a dent in problems that he himself created? Taking a hundred steps back and then taking half a step forward is technically "moving in the right direction now" but it's too little too late, especially when there's a cliff behind you. If someone blows up your house but then places a few of the bricks back to where they used to be, would you be giving credit where it's due? Just forget that they blew up your house, you're just being cynical! Hey, at least they're moving in the right direction!
Wasn't there just an article on here about how the richest 1% of Americans (maybe it was globally) made 14.xx trillion in 2023? So 10% of that wealth from a single year could wipe out all student debt. I bet that's less than what they evade in tax liability.
You've unironically shown that he is making an impact. Since taking office the rate of increase slowed down to the point that actual debt has gone down.
Presidents can seldom make decisions that show immediate results and drop things instantly, especially if they don't also have Congress. Where you can see their effect is on the derivative of numbers like this, and that is a decidedly better graph.
Yeah, I showed that he barely made a dent. The problem is that most of that is forgiving loans for:
So the low-hanging fruit is gone and this is the best we can expect of this trend. Reminder that it only got this bad because of biden in the first place: https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020