All this talk about the government forgiving student loans is disingenuous if the government is still doing them business as usual, otherwise, we'll be back in the same place in a generation. The data is in: current student loan policy is terrible and unsustainable.
Waiting until the economy hemorrhaged and adding means testing on loan forgiveness was the equivalent of shooting yourself in the foot at the starting line. If they did this early pandemic no one would've batted an eye as govt was printing money wildly. Adding now that there is means testing excluding tens of millions from forgiveness makes it unpopular with voters as well.
Debt forgiveness is a necessity for a healthy society. When, how, how much, and for whom are the real questions to be asked.<p>In this case, it's the HOW that is problematic. In a sane world, all scorn would be heaped on the person that promised debt forgiveness knowing they didn't have the power to do so, for personal political gain, and willing to attempt to set a very dangerous precedent of limitless spending with the stroke of a pen by any president.
Weird question: What would happen if the president ordered the destruction of all records of the loans, payments, balances and other paperwork in federal hands (edit: I should have been specific and said I meant student loans, not just everything...)? As POTUS that seems like something he is free to do right? And it would make it all but impossible to actually enforce any existing debts right? You cannot sue someone if you don't have a contract or a record of payments etc.