For this - coming very soon - first week of school year 2022/2023 - we will comment upon a recent announcement by Pres. Biden re: the debt "forgiveness" of ten thousand dollars per each student - for approx. 60 million students. This "splurge" costs the U.S. government - ab. 400 billion dollars - moreover - it's not any "forgiveness" or anything of that sort - since the U.S. taxpayers will have to "foot" most of the bill - as usually. Many political observers comment that it was promised by Pres. Biden during his presidential campaign of 2020 - in order to "buy young voters" - thus many college students took fair or unfair - advantage of it.
However - according to a lot of political commentators - "this sort of 'buying the voters' - can backfire in a lot of ways. The main one being that the segment of population who has to pay for it - becomes resentful - while another political argument postulates that "the voters who voted for Pres. Biden - will vote for him - anyway - however - the new ones - will just take advantage of his 'bribe' - but they will never, ever vote for him - no way."
Copyright@L.Hadley and Associates 2023