April 20, 2022

EVERYTHING IS GOING SWIMMINGLY: The student loan debt cancellation trap. “Even if the government actually had the half-trillion dollars of “free money” you would need to make a significant dent in the total student loans out there (that wouldn’t even cover a third of it), are people with graduate degrees really the most needy demographic you could find to shower that money upon? . . . Matt is also correct about the awful political optics of this. The loan forgiveness under discussion would go almost entirely to college graduates. That is going to leave a lot of working-class Americans even more convinced that the system is rigged in favor of the elite. And while it should go without saying, Warren’s proposal does nothing for all of the people with mortgages, car loans, or business loans. They will all rightly be saying ‘what about me? When do my loans get forgiven?‘ That’s not going to create an army of happy voters.”

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