Student loan forgiveness: you get to pay more

 

Rick McKee’s cartoon seen on PowerLine’s "Week In Pictures"

The Democrats really do want more of your money.  At American Spectator, David Catron reports on the case before the Supreme Court concerning the cancelation of student debt; he begins:

Last week’s oral arguments before the Supreme Court concerning the Biden administration’s student-loan forgiveness plan predictably focused on arcane legal theories such as the “major questions doctrine.” Relatively little time was devoted to the profoundly inequitable structure of the program. Chief Justice John Roberts and Justice Neil Gorsuch did note that it would provide benefits to certain favored persons while ignoring the very real costs it would impose on others, but no one mentioned a fact that will gall most taxpayers — it would cancel student loans for college dropouts.

Remarkably, the Biden administration and most Democrats see this as a selling point for the plan. The White House fact sheet puts it as follows: “Nearly one-third of borrowers have debt but no degree, according to an analysis by the Department of Education of a recent cohort of undergraduates.” The Democrats justify canceling these loans because tuition costs have risen, ignoring evidence that the loans have driven that increase. Sen. Elizabeth Warren (D-Mass.) claims: “Up to 4 in 10 people with student loan debt weren’t able to graduate, many because of high costs.… Canceling student loan debt would change their lives.”

The problem is that the $400 billion program would also “change the lives” of millions of Americans for the worse. How? It will raise the stealth tax known as inflation. . . .

Read the rest here.

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