Biden’s Student-Debt Payoff: How Will It Affect the Midterms?

Several Democratic candidates in key congressional races have tried to distance themselves this week from President Biden’s decision to wipe away student debt by executive action, which could cost taxpayers anywhere from $500 billion to more than $1 trillion over the next decade.

“I don’t agree with today’s executive action because it doesn’t address the root problems that make college unaffordable,” Senator Catherine Cortez Masto (D., Nev.) said. The Democratic nominee in Ohio’s Senate race, Tim Ryan, said in a statement that “waiving debt for those already on a trajectory to financial security sends the wrong message to the millions of Ohioans without a degree working just as hard to make ends meet.” Even Democratic senator Michael Bennet, who is running for reelection in Colorado, which Biden won by double digits, criticized the move..

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John McCormack

John McCormack is a former Washington correspondent for National Review and was a fellow at the National Review Institute.

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Several Democratic candidates in key congressional races have tried to distance themselves this week from President Biden’s decision to wipe away student debt by executive action, which could cost taxpayers anywhere from $500 billion to more than $1 trillion over the next decade.

“I don’t agree with today’s executive action because it doesn’t address the root problems that make college unaffordable,” Senator Catherine Cortez Masto (D., Nev.) said. The Democratic nominee in Ohio’s Senate race, Tim Ryan, said in a statement that “waiving debt for those already on a trajectory to financial security sends the wrong message to the millions of Ohioans without a degree working just as hard to make ends meet.” Even Democratic senator Michael Bennet, who is running for reelection in Colorado, which Biden won by double digits, criticized the move..