Now that the Supreme Court has rejected the Biden administration’s attempt to forgive $430 billion in student loan debt, it’s fair to ask whether Biden’s action was both political and reckless. I voted for Biden, but I do think the move was cynically political, coming as it did 100 days before the November congressional elections. Forgiving loans of up to $20,000 to more than 40 million potential voters could be perceived as a crass attempt to buy votes. Moreover, the federal student loan forgiveness program had virtually no chance of surviving judicial review by the current Supreme Court. But what is even more troublesome is that the president’s pledge, taken at face value by milli
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