Of course they did. If you’re rich, you get a bailout. If you’re not, then fuck you.
Well, it’s not like I was planning on having kids or buying a house anyway. Fuck it, maybe I just buy a van and spend the rest of my life making $5 payments on my loans and let my credit collapse as the interest piles up.
I think the point is that any type of relief of these kinds of debt would be met with political opposition. The opposition to this is against helping people in any capacity at all, engaging with nitty gritty details as to what might have been more sensible is giving credence to their insanity. When someone is trying to hurt you, you don’t let them ratchet it up to normalize “well, at least they only hurt me this much”. It’s painfully obvious that we have an entire political party in the US that has popularized suffering as the end goal. Nothing less.
As shitty as this outcome is, it gave 45 million Americans, in a demographic that is not as politically active as their older counterparts, a good reason to turn out and vote in 2024.
I’m sooooo disappointed, but also sooooo not surprised.
Legally, Biden did have weak legal ground, but also legally then the decision shouldn’t have been allowed because the states who sued had, with unanimous decision by the Supreme Court, no legal ground at all.
NPR reports that the Biden admin will have a response and plan announced soon.
My guess is they have had a few back up plans considering no one thought this would work.
Of course they did. They have to line their pockets with more money that they stand to gain from the loans after all.
