The student-loan-repayment monster could very well rear its ugly head sooner or later, and when it does, it will cost us.
Schumer is pushing Biden to remove the $10,000 cap on deducting state and local taxes from federal taxes (known as the SALT tax cap).
Fixing existing income-driven repayment programs is a much better plan.
We need to stop fueling the degree mania that drives many people deep into debt and feeds the enormously bloated higher-ed establishment.
Student-loan forgiveness helps the college-educated higher classes at the great expense of taxpayers in general.
Biden said 'I will not make that happen,' when asked Tuesday how he would provide $50,000 in federal student loan forgiveness.
Parents are borrowing more and more to finance college through Parent PLUS Loans.
The more that taxpayers pick up the expense of putting students through college and grad school, the more wasteful the whole system becomes.
I'd bet a lot against Biden doing anything so sensible as to lower the demand for college credentials, but who knows.
Too bad that the political class is only able to think about debt relief and not the underlying problem.