The Last Chance Of Freedom: Biden's Raw Political Move Benefits the Ruling Class (Again)

Tuesday, August 30, 2022

For example, columnist Tressie McMillan Cottom of the New York Times declared it a "win," although she then demanded even more loan forgiveness.
Betsy DeVos, who was secretary of education under Donald Trump, took the opposite position, declaring the loan forgiveness to be "illegal."

Biden's loan forgiveness is going to have the same effect as Alabama implementing a state lottery: higher prices for a college education.
In 1980, the price to attend a four-year college full-time was $10,231 annually. By 2019-20, the total price increased to $28,775. That's a 180% increase.
Why tuition and fees have exploded is no mystery. On the supply side, college administrations have grown alongside federal mandates tied to identity politics
This development has had twofold effects
The first is to increase overall college costs-even though administrations have little to do with academic achievement. The second has been to increase the power and influence of the identity studies faculty, which is having a devastating impact upon higher education as a whole.

The student loan program mostly benefits people who vote Democratic
College administrators and faculty overwhelmingly lean Democratic, and college graduates are one of the main beneficiaries of Biden's executive order
Biden has channeled another president known for his reckless policies, Franklin D. Roosevelt
Like Roosevelt, Biden has used a little-known law to transfer wealth from those will little political influence to people who make the rules

This is only the beginning of Biden's financial shenanigans to benefit his party's constituencies
As the federal government continues to expand its reach-thus, making a college degree an even more vital gateway to better-paying occupations-the politically powerful will find more ways to dump their financial burdens upon those that can least afford them