from preliminary reads of the #DebtCeiling deal it's bad on principle bc it's not a clean raise, and it's bad in fact on cuts, but it's much better than what you'd expect from the hostage situation Ds had publicly, almost performatively, walked themselves into. i have a hard time believing their negotiation position in private wasn't stronger than the public position, that some unilateral workaround wasn't quietly on the table. it's the Congressional Republican reaction that will be interesting.
this is a bad thing. it also may affect the Supreme Court's decision on student loan forgiveness. now they don't have to worry that no forgiveness means no resumption. but as @ddayen points out, the biggest deal in the Biden admin's student debt proposal was the very generous IDR (income-driven repayment plan), which would provide immediate relief but ultimately necessitate a restructuring of how colleges set tuition. i hope that is still on.
from @ddayen on Twitter: Any macro impact is going to come from the return of student loan payments, which are codified in this agreement and now guaranteed later this summer. $400/mo payments for millions are back, with no clarity yet on whether cancellation will happen. One caveat to that: The administration has promised a far more generous income-driven repayment plan that would slash payments for lower earners. We haven't heard much about the progress of the updates to this program.