We’ve talked earlier about the student loan forgiveness, which is really the “stick it to the working joe” executive decision. Most of those paying the costs of this program did not receive the benefit of the loans, yet they’ll have to foot the bill. Indeed, the education received by those who took the loans will, in most cases (certainly on average), greatly increase the future salaries of those who took the loans, while their fraction of the taxes they’ll pay as general taxpayers will pale in comparison to the debt forgiven. In all my years of watching political theater, I can’t remember seeing an action taken that has less benefit to the general public than this one, while coming at great cost to the taxpayer. Mr. Biden really did just stick it to the majority of Americans. His actions are clear: he only cares about the concerns of his progressive base.* And it’s hard not to view this as a pure looting of the treasury.

I was able to discuss this yesterday on WTVN Radio. I’ll take your questions or discussion points from the radio interview in the comment section below. On the off chance that any of our readers think this is a good idea, would you share the general public interest on why this should have been done?

EDIT: Ok, junior Bereans, willing to do some internet sleuthing for fun? I’d like in your comments for you to find politicians that predicted we’d end up eating this bill when Mr. Obama nationalized student loans, and those that denied this would ever happen. And I’m sure you’ll note their party affiliation!

* I’ve noted this before, but it is exceptionally odd to think that its progressive to take from the poor (those that didn’t get to go to college), or the frugal (those that paid back their loans, or worked through college while taking longer to get through college), or those that went to cheaper less prestigious colleges to give to the rich.