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Season 2, Episode 15

The Debt Collective advocates for debt cancellation to stimulate the economy

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Guest Name:


Astra Taylor

Guest Website:


www.thenation.com

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Various forms of debt are absolutely crushing Americans and the American economy. Some believe it is time to cancel certain forms of debt in order to stimulate the economy and ease the burden on the American people.

Astra Taylor, contributing writer to The Nation Magazine explained how life changing debt cancellation would be to millions of Americans and provided specific actions to be taken to make it a reality on America’s Work Force Union Podcast.

The Debt Collective

As cofounder of the Debt Collective, Taylor believes that indebted people can rise up and rid themselves of their debts by taking collective action.

The group organizes indebted Americans and organizes them to defy their debt collectors. The group is comprised of people from all walks of life, carrying different types of debt. There are students, seniors and others who carry student debt, medical debt and more.

They have won cases for members and absolved their debt because of costs taken on that were built on a foundation of lies.

Federal Student Loans

A hot button issue in recent years has been canceling federal student loans. Taylor said President Biden’s Secretary of Education can do this with the stroke of a pen.

She said the benefits of doing so would be massive. Canceling this debt would allow more young people to participate in their local economy. More people would be able to purchase homes, go on vacations and have a comfortable amount of money to spend in their communities.

Finally, she said this can easily be done. The U.S. has a massive military budget and spends an unnecessary amount of funds elsewhere. She added that federal student loans have been put on hold since the beginning of the COVID-19 pandemic, proving that the department can operate without collecting these debts.


America’s Work Force is the only daily labor podcast in the US and has been on the air since 1993, supplying listeners with useful, relevant input into their daily lives through fact-finding features, in-depth interviews, informative news segments and practical consumer reports. America’s Work Force is committed to providing an accessible venue in which America's workers and their families can hear discussion on important, relevant topics such as employment, healthcare, legislative action, labor-management relations, corporate practices, finances, local and national politics, consumer reports and labor issues.

America’s Work Force Union Podcast is brought to you in part by our sponsors: AFL-CIO, American Federation of Government Employees, American Federation of Musicians Local 4, Alliance for American Manufacturing, Anthem Blue Cross Blue Shield, Brotherhood of Maintenance of Way Employes-IBT, Boyd Watterson, Columbus/Central Ohio Building and Construction Trades Council, Communication Workers of America, Mechanical Insulators Labor Management Cooperative Trust, International Association of Heat and Frost Insulators and Allied Workers Local 50, International Federation of Professional and Technical Engineers, International Union of Bricklayers and Allied Crafts, International Union of Painters and Allied Trades District Council 6, Ironworkers Great Lakes District Council, Melwood, The Labor Citizen newspaper, Laborers International Union of North America, The National Labor Office of Blue Cross and Blue Shield, North Coast Area Labor Federation, Ohio Federation of Teachers, United Labor Agency, United Steelworkers.

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