Joe Biden’s student loan debt cancellation scam – a transparent midterm vote buying technique – is likely to cost $900 billion before it’s all said and done, Save Jerseyans. Democrats are claiming a major political victory in the aftermath of POTUS’s Wednesday announcement.
The reality for Democrats is far less politically certain. Sure, I expect plenty of younger Dem voters swimming in student loan debt will be grateful for the handout and may reciprocate by turning out in November; on the other hand, polling shows a majority of Americans profoundly concerned about the obvious inflationary impact. Could it prove to be a wash? Or worse?
The clearest indicator of the likely political fallout might be how vulnerable House Democrats are handling the news.
Congressman Tom Malinowski (D, NJ-07), facing an active ethics probe and struggling to hang on in a district that just got more red in redistricting, represents one of the state’s only true “swing districts.” A far-Left Democrat, Malinowski nevertheless came out against the President’s decision on Twitter.
“I’ve never supported canceling student debt with taxpayer funds,” Malinowski tweeted. “I strongly support more generous income based repayment and attacking outrageous predatory interest rates that trap young people in endless debt even if they make their payments.”
Malinowski won a second term in 2020 by only 4,000 votes over his current competitor for the 2022 rematch, Tom Kean Jr.
Kean, for his part, came out swinging against Biden’s plan:
— Tom Kean (@KeanForCongress) August 24, 2022