In an obvious attempt to buy votes with other people's money, the Biden administration is "forgiving" $7.4 billion in student loan debt for 277,000 borrowers. While there are more details to the process, the details not being mentioned are how these loans are cancelled. It seems likely that the parties who are owed the money will receive it or we would hear real screaming. In fact, they may well have been the impetus for this in the first place. Skyrocketing inflation is destroying the value of the repayments. The educational institutions aren't going to be out anything, they can keep raising tuition and fees for the foreseeable future. The payoff is being made by the taxpayers.
The Democrats never fail to mention the threat to democracy that their opponents represent. Biden's defiance of the decision of the Supreme Court is a genuine disregard for the separation of powers and the constitution.
Each vote purchased by Biden will cost those taxpayers $26,715.
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