but that is not atypical. the fed usually does react late. they did this time as well. now that they are on the case, they seem intent to get this thing fixed. i have every confidence they will. they did come late to this one. carley: they certainly did, they did come late. every time the biden administration and announces a new policy and if you think about 2023, they were still that lingering student loan situation that might be coming down and adding more money to the economy feeling the situation, i m sure appear the federal reserve is scratching the head and trying so hard to fight this peer of the spending is making it so much worse. it does work cross purposes. we have talked about this before. the student loan was missed opportunities how we pay and higher education cost as opposed to forgiveness. reform versus forgiveness. missed opportunity on that one. you are right, administration
rails in a wile. is that something we are about to get a rude wake-up, salvador? in my opinion that what west coast was paying attention to on the west coast, which by the way that still negotiation so i m thinking they may be watching the outcome of the rails negotiate and maintain some from that on the motions because they still don t have a deal with pacific maritime so we have two major transport union members who have no deal. todd: much like the messaging put out for the student loan situation. this is a problem that has not been solved either yet, buyers able to fool the voters. salvatore stile, we appreciate your time. think you. todd: take a look at this heart stopping video showing people trapped in a plane dangling from a power line. we will show you how that all
retention of power. that is politics. here is what i mean and how i back it up, carley. as recently as two weeks ago. joe biden was wearing a mask outside. outdoors against all science, he was wearing a mask outside. and now two weeks later, the pandemic is over. he passed that student loan forgiveness bill or actually he pushed through that student loan forgiveness executive action, the plan to push it through with executive action because of covid. because of covid measures. he is using covid when he wants, when it s necessary to consolidate and retain power and now that the midterms elections are here. is he going to play politics once again and toy with our lives hopefully for his party to win power by declaring victory over covid. carley: yeah, you know, you bring up the student loan situation. also i spoke to a teacher, will, on fox & friends first, who just lost her job because she refused to get vaccinated. her story is particularly sad because she went into school
coming in legally. so, everybody s committed to that and again, i think the package that we ve come up with will be comforting in that area. mm-hmm. okay. we are going to switch to the student loan situation, because we have a situation going on there we have congress, which failed to prevent rates from doubling for the subsidized stafford loans. are you confident at all that congress is going to be able to fix this retroactively? well, i think so. and again, we it doesn t have to be retroactively. we still have some time before people are actually taking out loans or should be for the next school year. but i m on the education county and we reported out a bill that was, you know, so close to what the administration has proposed. this should be a really easy thing to compromise. both proposals were tied to the treasury ten-year treasury note. the difference was whether there s a cap on what the interest rate can be and whether the interest rate is set for the term of the loan.
managing dent and not getting that first step into the you know, into the work place. how serious is this? it s very serious. the student loan situation as we know is diabolical. as you mentioned in terms of statistics, people can t even find jobs to pay off their debt right now. and it s only going to increase and get worse in the future. you go back to a situation where even people who can save have accounts in banks at zero percent interest. there s nothing to accumulate. everyone is talking about maybe we could get into the stock market and have that as a way to increase people s disposable income, but if you have no income to begin with and all of your income is going to debt when you receive it, there s nothing left over to save, let alone to risk which you should not do in a market environment. you risk money you have, not money you don t have. when you re saddled with debt, it s a very precarious situation, not only for students but the overall situation of the