Are Biden supporters really shocked this action item collapsed? Student loan forgiveness is a liberal action item that isn’t going away. It’s always on the “to-do” list for every Democrat running to reach out to younger voters. It’s not going to happen. We have a bunch of liberals who took out six-figure-plus loans for their whine like an entitled little b**** degrees which don’t pay. You’re not making Wall Street money on a degree in Women’s Studies. Second, no one gets paid that much money out of the gate. You made the decision. You took the money. And now you need to figure out a way to pay it down. It’s called responsibility. It’s called being an adult—and millions of Americans have already done this, kids.
Biden doesn’t plan on forgiving any student debt, which is making some of his younger supporters anxious, with some even warning that a lot of voters might never cast a ballot again (via WSJ):
Joe Biden said during his presidential campaign that he would reduce student debt for millions of Americans, but his allies remain divided on the issue, and some of his supporters are losing hope he will deliver.
Melanie Kelley, 38 years old, of Denver, has $125,000 in student loans. When the Biden administration’s pandemic-related pause on student-loan payments ends in May, she will owe $1,000 a month.
“It’s become this unmanageable beast for me,” she said. “May isn’t that far away. How am I going to figure this out?” A management consultant, she said she has worked as a DoorDash driver to supplement her income, but her debt has kept her from starting a family or buying a house.
“A lot of people are not going to vote again because they feel like they’re not being heard,” said Ms. Kelley, who voted for Mr. Biden in 2020.
[…]
Legislative efforts to forgive student debt have sputtered in Congress, and progressive lawmakers are ratcheting up pressure on Mr. Biden to take executive action, calling on him to cancel up to $50,000 in debt per borrower.
“He must do this,” Sen. Elizabeth Warren (D., Mass.) said. “It’s the right thing for generational equality; it’s the right thing for racial equality; and it’s the right thing for strengthening our economic future.”
[…]
The debate over whether Mr. Biden can wipe away billions in federal student debt with the stroke of his pen has divided some of his allies, according to people familiar with the discussions. Some have argued that such a move would energize young voters. Others have urged caution and encouraged him to defer to Congress, while raising concerns about whether the administration has the legal authority to act on its own.
Mr. Biden has expressed skepticism about universal debt forgiveness, arguing against canceling debt for people who attend elite private universities. He has said he opposes forgiving up to $50,000 in student debt for all borrowers and has suggested his executive authority is limited.
A January poll found that 49% of the public—including 70% of Democrats, 44% of independents, and 25% of Republicans—supports forgiving student- loan debt from public colleges and universities. Thirty-five percent of respondents said they were opposed, and 17% said they were not sure.
Yeah, this isn’t happening—and the people who thought it would happen should know better. This was a classic overpromise, but that’s also how you win elections, right? We have a 50-50 Senate. And with a Democratic House with a four-seat majority, there’s no way this legislation is being considered, especially when we have an emerging Ukraine crisis, inflation soaring, a border fiasco, trash jobs reports, and COVID.
Biden’s approvals are in the toilet, and the White House lost major Hill battles with Build Back Better and their shoddy federal takeover of elections gambit. This is a guaranteed legislative defeat. It’s an election year. It’s not happening. And yes, here’s another lesson: you can’t always get what you want.
Second, and more importantly, regarding the long game, the populist backlash would be astounding. Everyone on the left and the right sees this because scores of Americans have gone to college, taken out loans, and never whined about wanting a bailout. They’ve worked through it. That’s what this is—a bailout for the most privileged slices of the country. White liberals would be the beneficiaries of this loan forgiveness program. James Carville, a hardcore liberal, knows this is just a losing issue, noting that no one wants to hear it. It will infuriate the legions of Americans who have either paid off their loans or are in the process of paying them off. The latter group is finding a way to get their finances in order. That’s the point. This is America. You work. Period.
Yes, I know Wall Street got a bailout—and that’s what led to the Tea Party movement and the rise of populism, which reached its height in 2016. Need I say more?
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