Republicans reject plans to save millions of Americans from coronavirus bankruptcy – and come for AOC instead

Moya Lothian-McLean@moya_lm
Thursday 12 March 2020 15:00
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(Getty/indy100)

As the coronavirus crisis causes society as we know it to shut down around our ears, it is also prompting some… questions.

Like the structures capitalism is built upon that we’re told are fundamentally just part of life and for which there is no alternative.

You know: paying rent, paying mortgages, getting meagre sick pay, having to accrue capital in order to access certain premium stratas of healthcare and education etc.

But due to coronavirus, it’s emerged that these inalienable “facts of life” can be suspended to ensure people don’t suffer when their ability to earn money is hampered.

Like Italy pausing all mortgage payments.

Or flights suddenly becoming strangely “affordable” (you mean... cost price) as demand has gone down.

It’s almost like the value of money is… made up.

Now Congresswoman Alexandria Ocasio-Cortez aka AOC aka a big pain in Donald Trump’s butt has suggested perhaps the US could take a brief leave from its arch-capitalism and cut people a little slack by suspending collection on student loan debt.

She also threw in some mortgage relief, as a treat!

Student loan debt in the US totals around $1.6 trillion (£1.27 trillion).

On average, students carry $32,731 in loan debt.

Democratic candidate Bernie Sanders has proposed wiping out all student debt if elected president, while rival Joe Biden wants to make it easier for people to repay the loan.

As for Donald Trump… he’s supported legislation that would make it more difficult for struggling students to have their debts "forgiven". Plus his administration just called a Democrat-led coronavirus response bill a "radical left" agenda because it wants to give people things like free testing and extended unemployment insurance.

It's not just student loan debt, either. If coronavirus stops Americans from being able to keep up with medical bills or any owed payments, millions could be at risk of bankruptcy.

59 per cent of Americans live paycheque to paycheque, and coronavirus poses a significant risk to their financial security if there's no safety net or emergency measures.

But given the Republican response to Pelosi, it’s unlikely he will take any notice of AOC’s proposal.

So, as of today, the financial security of Americans hangs in the balance.

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