The following is a transcript of an interview with Democratic Sen. Elizabeth Warren of Massachusetts that aired on Sunday, April 24, 2022 on “Face the Nation.”
MARGARET BRENNAN: Let’s get into politics now. The half-term elections are just over six months away. And the question is, will Democrats be able to occupy both the House and the Senate? Massachusetts Democratic Sen. Elizabeth Warren is now joining us from Boston. Good morning to you. Senator, I know you have some strong thoughts on the matter. I read your opinion piece this week and warned that Democrats could face disaster because they promised more than President Biden has fulfilled. Why do you think Democrats can lose the majority?
SENATOR ELIZABETH WARREN: Look, Democrats need it: Democrats win when Democrats are in touch with the American people and what’s happening to them. Today, we have people in line to buy groceries and have to choose what to send because they can’t afford to pay for it. We have millions of people across the country who say they’re not ready to take back student loan payments, who just can’t handle these loan burdens. We have millions of people across the country who can’t fill a gas tank, so they’ll be able to get to work this week. As Democrats, we must comply. We have to deal with the costs and we have the power to do so. We have less than 200 days left, though. And instead of looking back, we look forward. We do what we can for the American people who chose us, for the American people who count on us.
MARGARET BRENNAN: Well, Republicans would agree with you that inflation is a big issue. It is one of the main points of attack on the President. You just mentioned student debt. I know you think the president can get rid of it essentially through executive orders, but both the White House and President Pelosi have said that maybe he doesn’t have the authority, that Congress should act here. Have you convinced the White House to the contrary?
Senator WARREN: Look, we know the president has the authority to pay off student loan debt, and the best way to know that is because President Obama did it, President Trump did it, and now President Biden he has done so repeatedly. The power is clearly there
MARGARET BRENNAN: Extending the deadlines, you mean here?
SENATOR WARREN: No, no. They canceled, remember, they canceled the debt. Both have canceled it completely for people of certain categories, but they have also canceled the interest due on the student loans of the people. They haven’t postponed it. It has been revoked because the power of annulment is already in the statute. President Obama, President Trump, and President Biden have done just that. And understand that canceling this is something that the American people want and need tens of millions of people. Forty percent of people who manage student loan debt do not have a college degree. They are people who tried, but life passed: they were pregnant, they were doing three jobs, their mother became ill, they had to move to another city. And now they’re earning as a high school graduate, but they’re trying to manage their college loan debt and it’s crushing them.
MARGARET BRENNAN: But at the time of …
Senator WARREN: Plus, it’s a matter of racial equity.
MARGARET BRENNAN: What? I am aware that this is a priority for you. But the concern is that right now it could also be inflationary in an environment where there is already high inflation.
Senator WARREN: No, he is not an inflationist. The student loan has not been paid for three years. But keep in mind, as President Biden himself says, the way we deal with inflation is not by making people poorer. Our way of dealing with inflation is to attack high prices head-on, rising prices. We straighten the supply chain so that goods can reach people. We attack it head on, not trying to impoverish people. Canceling student loan debt is something that would be good for people across the country and, most importantly, good for our economy as a whole.
MARGARET BRENNAN: Also in your opinion article you talk about a series of items on the agenda for Building Better: Child Care, Universal Preschool. But the 50 Democratic senators do not support it. The president himself has acknowledged his problem. This week he has only talked about being able to reach number 48. Are Senators Manchin and Sinema changing their minds here? Do you have any different math?
SEN. WARREN: Look, there are a lot of things that we all agree on and there are things that we need to continue to negotiate. Let’s really start with the price increase. You know, I think all Democrats agree that these giant companies should not only pass on the costs of inflation, but in fact they should add an extra amount so that they can increase and expand their profits.
MARGARET BRENNAN: But do you think this can be done in the next few weeks before people leave for Memorial Day?
SEN. WARREN: Yes, yes. We have, look, we have almost 200 days for the next election. We have to be there fighting. And what we have to fight for is the things that directly affect U.S. families. People count on us and we can’t sit down and do politics. We must fight on behalf of the American people. And that means people who are struggling with student loan debt, people who are struggling with high prices, people who are worried about this pandemic.
MARGARET BRENNAN: But …
SEN. WARREN: We count, and that’s what democracy is all about, we can face the November election with our heads held high.
MARGARET BRENNAN: A few weeks ago, Senator Angus King said, “If you have a Franklin Roosevelt political agenda, you need a Franklin Roosevelt majority.” Just go back to the premise that we don’t have 50 Democratic votes. So I hear you say Democrats just have to be caught trying.
SEN. WARREN: Look, what you’re hearing me say in the first place is that not everything has to go through Congress. We chose the example of student loan debt. This would affect about 43 million people. That matters. It would directly affect them and affect their families. It is also the case that there are many things we agree on. We can attack corruption head on. I have a bipartisan plan that says members of Congress cannot trade in shares. They cannot have individual actions. That’s something we should be able to agree on and move forward and help restore just a little bit of faith that when we take action in Congress, it’s not to stuff our pockets. In fact, it is in the name of the American people. And look at all the other pieces that the American public tells us they support. For example, a minimum corporate tax for these giant corporations …
MARGARET BRENNAN: Well …
SEN. WARREN: They don’t pay anything. We all agree on that from the Democratic side.
MARGARET BRENNAN: Yes.
SEN. WARREN: Now, a big difference with Republicans who want me to keep doing this.
MARGARET BRENNAN: Well, we’ll see …
SEN. WARREN: But that’s exactly what we should be doing.
MARGARET BRENNAN: Well, the President …
SEN. WARREN: We have to be in the fight.
MARGARET BRENNAN: Well, and the … the president is talking about his successes. We’ll see if he follows your advice. Senator Warren, thank you for sharing this with us. We will be back soon. Stay with us.
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