Why Won’t Biden Quit on Student Loans?

I don’t get. I have never gotten it. Now I get it even less.

I have never understood why it was “progressive” to cancel student loans. On average, a person with a four-year degree makes almost one and a half million dollars more over the course of a career than someone who didn’t pick up that paper. This is a massive transfer of wealth from the less well off to the much better off. There are other reasons to oppose this and you can read them here if you want.

But my purpose today isn’t to get into the policy (which, have I noted, I have never understood?) to the politics, which I also do not understand. The Associated Press just released a new poll that shows that 40% of Americans disapprove of Biden’s handling of this issue while only 30% approve and the rest don’t know or have no strong opinion. And here’s the really startling thing, even among those who currently carry student debt only 36% approve while 34% disapprove of the way the President has handled this. (If you just have to forgive somebody’s loans, try medical bills. That actually has 51% support.)

To be sure, some of that disapproval comes from those who want the taxpayer bailout, but are frustrated that they’re not getting it. But somehow they falsely blame Biden, who has fought like a dog on their behalf. Never mind it was the Supreme Court which — correctly, in my view — struck down his big, half-trillion dollar plan. Never mind that Biden didn’t give up and has continued to chip away at loan forgiveness. Last month he found a way to forgive another $7.7 billion without Congressional approval. Still, a large number of the very people he is targeting for help blame him for what went wrong. They may have gone to college but apparently they never took a class in American government.

So why does Biden keep touting this thing when his efforts aren’t even appreciated by the people he’s trying to help?

We’ll leave that question echoing in your mind through the weekend. Have a good one. The Quote & Quiz will come to you per usual on Saturday morning.