Assuming this is just a prelude to the cancelation of all student debt, and I do, then logic and politics will demand that colleges be made tuition-free.
/Biden is supposedly set to announce a transfer of $10,000 of existing student debt to taxpayers.
No one’s paying the loans anyway, thanks to the moratorium on paying that Biden unilaterally declared the day he was inaugurated, a moratorium he will also extend tomorrow.
“As a reminder, no one with a federally-held loan has had to pay a single dime in student loans since President Biden took office” White House spokesman Abdullah Hasan said today, “and this Administration has already cancelled about $32 billion in debt for more than 1.6 million Americans — more than any Administration in history.”
The “Squad” and other weirdos like Bernie Sanders are already calling for the cancelation of all $1.75 trillion of student debt, and I have no doubt that they will succeed, but why should there be a dividing line between students who have already graduated and those who are still in school, racking up their own debts? And why shouldn’t a kindergartener receive the same free tuition that students who’ve preceded him did? The colleges would love it, because it will rescue thousands of schools from the brink of bankruptcy and closure, and children love to get free stuff.
A plumber with a family to support might wonder why he’s paying the debts of a deadbeat who majored in Transgender African Folk Art, but that’s because he’s a racist, homophobic deplorable, so his betters will just tune out his complaints. They’ll soon have 87,000 new enforcers to make sure he pays his “fair share”.
UPDATE: Larry Sommers forgets “The Power of And”. He’ll soon be reminded.