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MSNBC Morning Joe July 7, 2024

president donald trump. good morning. welcome to morning joe. it is thursday, august 25th. i m willie geist. with us, msnbc contributor mike barnicle. former aide to the george w. bush white house and state departments, elise jordan. the president of the national action network and host of politics nation, reverend al sharpton. and white house editor for politico, sam stein. let s dive into the story that has everybody talking right now. 43 million people in line to have at least a chunk of their student loan debt erased. as many as 20 million people could clear all of their student debt. those are the figures from the white house following an executive action yesterday by president biden. the president pushed back at criticism that debt cancellation will make inflation worse. by resuming student loan payments at the same time as we provide targeted relief, we re taking an economically responsible course. as a consequence, about $50 billion a year will start c ....

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MSNBC Morning Joe June 4, 2024 10:18:00

But i think, megan, where i agree with you, and i want you to elaborate, is where we put pressure on those institutions to deal with the higher tuitions and to deal with what they are doing to try to meet the hour. i happen to think the way the president moved yesterday was good in terms of direction. i wish he d gone further. but i think that it does not address the escalating college prices or college the amounts they re getting for tuitions and all. i think there needs to be more focus on how we kind of bring that in. well, i think that this is a huge problem. no one really has a very good idea about how to control the cost of college. so what we have done continually is say, look, this is a really big problem. i know, let s increase the subsidies. and especially when you think, you know, college professors, administrators, those are key ....

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MSNBC Morning Joe June 4, 2024 10:15:00

To college don t benefit from this. people like your family that worked hard, took an extra job to put their kids through college so he didn t have to graduate with debt don t get anything from this. there are substantial questions of fairness here in terms of who is going to benefit and who is going to be left without really getting any benefit from this. megan, your piece in the washington post is titled biden s student loan fix: it s perfect for making the problem worse. there certainly are a lot of people out there this morning who feel like suckers for having worked a second job or having paid off their student loans or gone to a college maybe they thought they could afford versus one they d have to pay off for, you know, 20 or 30 years. let s break down your piece a little bit. what s at the core of your argument against this? look, i agree with mr. ratner. there are a lot of reasons this is problematic. it causes fairness problems for people who worked hard to pay off de ....

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MSNBC Morning Joe June 4, 2024 10:22:00

Responsible thing to do, in a way, but this basic issue of fairness that gave rise to the tea party, in fact, is going to be something i think we hear an awful lot about in the coming days. well, and you already are. megan, curious what you think about how this plays out politically. you ve had even democrats like tim ryan, who is running for the senate in ohio, before the president even made the announcement, coming out against it. he knows it d cost him votes in that state. this is a really interesting moment. because no one can really figure that i ve spoken to at least, no one has a good idea of how much this is going to help the democrats. it might well hurt them. the problem is, the people that are most avid for this are kind of young, very politically engaged voters who have put a lot of pressure on the administration, successfully, obviously. the problem is, those people already vote. they re solidly in the democratic camp. they re already solidly turning out at higher ra ....

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MSNBC Morning Joe June 4, 2024 10:13:00

Debt cancellation not particularly popular. 46% of registered voters say they re more likely to vote for a candidate who supports cancelling student debt. 33% said it is less likely. let s bring into the conversation columnist of the washington post, megan mccartt l, and former treasury official and morning joe economic analyst, steve rattner. good morning to you both. steve, let me begin with you on the pure economics of this. what do you think this does knot economy? what do you think it does to inflation? first of all, willie, it d be difficult to overstate the vastness of this program. this is a huge, huge amount of money that is going to change hands and basically be in one fell swoop of the president s pen. there aren t good estimates what the cost will be, but let s call it something in the $500 billion range. that is pure increase in the deficit and cost of the federal government, and that s roughly twice the size of the amount of deficit reduction that was in ....

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