President Biden falling short on climate change, student loans, and immigration promises
Yahoo Finance's Rick Newman breaks down the latest policy agenda from President Biden, including the backlash for his latest environmental and natural gas policies.
Video Transcript
- Welcome back to "Yahoo Finance Live," everyone. It is time to talk Bidenomics. Rick Newman is here with us. Rick, we got to know what exactly has the White House and President Biden been up to this week.
RICK NEWMAN: I've been looking at a bunch of different issues where Biden is backtracking from what he said he would do as a candidate, his campaign promises, if you will. And he's only offering part of what he said he would do. I'll just tick through them real quickly.
He recently-- as a candidate, Biden said he would end oil and gas drilling on federal land. But recently, he said, actually, I'll allow some drilling on federal land. And environmentalists said, what? You can't do that. But he has to do it because gas prices are so high. On student loans, he said he would consider forgiving up to $10,000 per borrower, but he hasn't come anywhere near that. He's offered much more limited relief.
And then, on immigration, he basically said he would reverse this Trump policy of sending people away, people seeking amnesty, send them right back home because of an emergency COVID provision in the law. So he finally appears to be ending that after about 15 months. But on that one, Democrats worry that that's just going to create a surge of migration and a real campaign problem for them. So Biden may overturn that one.
So I'm calling this partial credit. Biden is sort of going halfway toward his campaign promises, hoping voters will give him partial credit for at least doing part of what he said he would do. I'm not sure voters will do that, however.
- And Biden will take any credit at this point, Rick.
