, Columnist
What Bill Clinton Understood About Big Government That Biden Doesn’t
Americans who never attended college but have other debts will see the edict on student loans as unfair. And they will be right.
What about their debts?
Photographer: Timothy A. Clary/AFP/Getty Images
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President Joe Biden’s plan to have the federal government pay off hundreds of billions of dollars in student loans has received blistering criticism, all of it deserved.
It’s a constitutional offense: Congress is supposed to authorize sweeping spending programs, not the president acting on his own. It’s economically risky, given our persistent high inflation. It’s perverse distributionally: A lawyer-doctor couple making $249,000 together will be able to walk away from debts.