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Will Biden’s student debt plan backfire?

Published

2 years ago

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Following the announcement of Joe Biden’s federal student debt plan, the U.S. President is facing questions over whether the move will only increase inflation

On Wednesday, Biden announced his administration will cancel at least $10,000 in federal student debt per borrower, while extending a payment freeze to the end of the year.

However, the move has frustrated some economists, who say it will only fan the flames of America’s 40-year high inflation.

Critics warn lifting student debt will enable borrowers to spend far more over a short period of time, driving up demand and, therefore, prices.

However, others disagree and say the stimulus will have little impact on consumer spending.

At the White House, the press secretary says fiscal responsibility is the President’s top priority.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Does American media have TikTok bias?

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5 hours ago

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May 16, 2024

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While the fate of TikTok remains uncertain in the U.S.—there is no shortage of possibilities.

Euro Bloch is a comprehensive program designed to highlight the breadth of topics and issues within the EU political landscape. It offers insightful analysis within the evolving framework of relations between the European Union and Australia/Asia-Pacific region. Hosted by Natanael Bloch.

Next month’s EU elections are looming, with the far-right gaining traction. In this episode, Natanael is joined by Professor Bruce Wilson, Director of EU Centre of Excellence at RMIT University. #EURO BLOCH

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Will the U.S. approve MDMA therapy?

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1 day ago

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May 15, 2024

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MDMA is a drug commonly known as molly or ecstasy.

Some medical professionals say it can be helpful for people with post-traumatic stress disorder — which is why a group has been fighting to get MDMA legalized as a prescription drug.

Currently, the U.S. Food and Drug Administration is reviewing an application to use MDMA to treat PTSD. The agency is expected to announce its ruling as soon as August.

Anna Silman, a features correspondent with Business Insider joins Veronica Dudo to discuss. #IN AMERICA TODAY #trending #drugs #MDMA #MDMATherapy #business #pharmaceutical

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