Joe Freed Of Student Debt Forgiveness Delusion?

Mine eyes almost saw the glory of the coming of the Lord when Washington Post freed Biden of his delusional student loan forgiveness plan calling it “an inequitable election year stunt.” Then came DOE’s Corinthian gift…

And, oh, Joe’s plan to limit student loan forgiveness to borrowers making less than $150K & $300K for couples, the hopelessly progressive editors conceded, was unrealistically “expensive” in that CBO estimates could cost $230 billion … even as soaring inflation is sending gas prices in California over $8 per gallon. But, back to the regressive reality in Joe’s ploy as in its current form would call for over 70% of the relief aiding those “in the top half of the income scale” while “a quarter of the benefits would go to the top 20 percent.” It's not that Joe still isn’t trying to garner support from the Swamp rag. In recent days, his “advisers” floated “cuts” in the student debt forgiveness plan, including jettisoning one brain(less) storm idea that would have eliminated $50K worth of debt per person. But, Wa Po noted, “even this does not express fully how regressive the policy would be because many recent graduates from medical, law & business schools would qualify for [the rest of the] forgiveness [plan] even though their lifetime income trajectories don’t justify it.”

Like Shingles, Joe doesn’t care and went small: On Thursday the WSJ reports he’s backing a plan to cancel $6 billion in 560K DOE student loans issued to pay the now defunct for-profit Corinthian Colleges chain BUT NOT anyone who was fool enough to pay off their loans. What did Wa Po say about “inequitable election years stunts”?

Davd Soul