Get the Ricochet app

Ricochet will work fine in a browser on your mobile devices, but for the best experience please download our app.

Download on the App StoreGet it on Google Play

Become a member.

Tired of the toxicity of social media? Why not join Ricochet for just $5/month? Think of it as an online bar. Come in, have a drink, hang out, say whatever you want. But don’t badger, bully, or berate the other drinkers. That's our only rule.

WTH is Going On with Biden’s Student Loan Forgiveness? Michael Strain Explains the Moral, Legal and Economic Policy Fiasco

Subscribe to What the Hell Is Going OnSubscribe

We return from our hiatus to discuss Biden’s trillion-dollar student loan forgiveness plan. Even for those with little background in economics, this is clearly a case of the inverse Robin Hood: a regressive act that takes from the poor and gives to the much less poor. Not to mention, the plan is an assault on the Congressional power of the purse, and legally murky with the justification of the post-9/11 Heroes Act. And let us not forget that this act paradoxically comes on the heels of Biden’s Inflation Reduction Act, though it is an incredibly costly plan that will only exacerbate current inflation levels.

As the Democratic Party consolidates its role as the party of college-educated coastal elites, AEI’s Michael Strain joins us to unpack the student loan handout. Strain is the Director of Economic Studies at the American Enterprise Institute.

Download the transcript here.

Hosts:
Danielle PletkaMarc Thiessen