It is difficult to wade through the assorted court and agency challenges to President Biden’s executive order to rescind somewhere between $600 billion and $1 trillion of student debt owed by households with annual incomes not in excess  of $250,000.    Each borrower can have up to $20,000 of student debt cancelled.   And if you’re lucky enough to be an employee of federal,state,tribal (?) or local governments, you could be eligible to have all your debt forgiven.

Beyond the obvious pandering for youthful votes in next month’s elections, I have three bones to pick with this blatantly bad allocation of taxpayer funds.    First, is it wise to add another trillion dollars to our national debt which now exceeds $31 trillion ?  Why not say the Proglibocrats , we’ll be dead before these IOUs come back to haunt our kids.   Secondly, under the guise that these poor borrowers were somehow misled or cajoled into borrowing big bucks to pay for their degrees in 18th century Asian pottery or in systemic racism, for which there are no obvious avenues for employment that might support repayment of that debt (sorry for the long sentence), why then are we as a society continuing to make these stupid loans.  The best analogy would be to forgive a bunch of mortgage debt while continuing to lend to people with no jobs.

Lastly, and most importantly, I was blessed with the economic ability to squirm through higher education while incurring zero debt, and stay gainfully employed for many years.  Many in our society are not so fortunate, either for economic reasons or because academically, they could not cut it.    This very large group works very diligently to find careers that support their families without dependence on the largesse of the federal government.   And therein lies the rub. These folks, who the politicains like to call the middle class, or the working class, are being forced to pay, through their tax dollars, for the stupidity of students and their parents who insisted on that B.S. from Southeastern Birdsboro Tech University.   Another group, including my lovely bride, has  faithfully paid off, or is in the process of faithfully paying off the student debt they incurred in past years.  They are also pretty ticked off, and  with good reason.     Robin Hood has returned in the form of Joe Biden, but he misread the book’s intentions.    WHAT THE HECK !