Ohio Senate Democrat candidate Rep. Tim Ryan (D-OH) said Sunday on CNN’s “State of the Union” that President Joe Biden canceling student loan debt sends the wrong message.
Ryan said, “Well, I think given this time, again, I understand the burden of it. My wife and I are still paying her student loans off, but there are a lot of people hurting in our society right now. People are getting crushed with inflation, crushed with gas prices, food prices, and all the rest. I think a targeted approach right now really does send the wrong message. There are a lot of people making 30, 40 grand a year that didn’t go to college, and they need help as well, which is why I’ve been proposing a tax cut for working people that will affect everybody.”
He added, “With the student loan piece, you could very easily allow them to renegotiate down the interest rates. That’s part of the problem is the interest rates are 9%, 10%, 12%. So, giving them an opportunity to renegotiate those down will put significant money in their pockets.”
Ryan concluded, “To just have a targeted approach now, this is part of a broader problem now. One of the stupidest things we’ve done in this country is tell everybody they have to go to college. That was a huge mistake. We got rid of shop class, got rid of things that build out the working class and skilled trades, and here we are, and we’ve done nothing to control the cost of college. We’ll be in the same position in five years. Part of the comprehensive package we could look at, but this direct, targeted thing I don’t think is sending the right message.”
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