Biden wants inflation. The $10,000 of student loan forgiveness for people making up to $125,000 could help some people temporarily, but does not address the tripling of college costs since 1980 and cancels any possible benefit from the so-called Inflation Reduction Act. This will transfer nearly $400 billion of federal deficit onto future generations and many people now who chose not to attend or finish college, but might have if they knew there was a huge discount.
This may cause many others to take on more debt assuming there will be more forgiveness. This amounts to printing money with the grave danger of higher inflation and is an obvious, short-sighted ploy to buy votes.
