Of college debt!
Engraved over the wrought-iron archway entering the campus of Blaska Policy Werkes is this precept of politics: “It is better to be lucky than good.”
Beats the motto at Faber College: “Knowledge is Good.” The stuff is too expensive, anyway, but, like the neighborhood bank used to say: your loan, your problem. Until Joe Biden. Republican candidates up and down the ballot thank you for taking the focus off #45 and his purloined papers! Luck be a lady tonight!
With a slash of his inflationary pen, Uncle Joe has absolved college debt of up to $20,000 for graduates whose income is below $125,000 ($250,000 for a married couple). At a half Trillion dollars, it is the most expensive executive action in peacetime, the Wall Street Journal reports. Cost to each taxpayer will average $2,000. (Source here.)
That winning streak Democrats were enjoying? We just heard it go thud. Joe’s forgiveness will fan inflation, economists tell us, but the real damage is political. It will light up the class war that Republicans were already winning. And not just among those wearing MAGA caps. It’s another example of Democrats redistributing other people’s hard-earned money to cultivate a new tranche of supposed victims — only these speak proper English and are careful to use your preferred pronouns. It won’t work.
Begin with the two-thirds of Americans who did not attend college in the first place; add in those who paid off their college debts or those of their children. (Only 13% have any federal college debt.) Add the many who served in the military to earn their college tuition. Then factor the folly of paying off something that — let’s face it — wasn’t paying off. The adage goes: you get what you pay for — in this case, stupid decisions. Now stir in some culture resentment: Construction workers are subsidizing grievance studies — the very Defund the Cops gender benders disrupting our kids’ schools.
Babylon Bee: “Biden to forgive $10K in student debt; in unrelated news, nation’s colleges raise tuition by $10,000.”
“No amount of lipstick is going to make that pig any prettier.” — Dave Cieslewicz, “Biden’s loan forgiveness is unforgivable.”
“Worse, this policy is aimed at the young and college-educated, a group that is, in the main, composed of reliable Democratic Party voters,” Tom Nichols writes in The Atlantic.
The whole business seems like class-based special pleading for a very specific and small group residing mostly within the Democratic Party. The right-wing narratives and Republican attack ads easily write themselves.
Blaska’s Bottom Line: agrees with Tom (not John) Nichols: “I see this debt policy as an unforced error.” Personally, we predict You Tube will replace four of every five universities.