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Hey on fuckers, we're back with a quick update on student debt in light of the Biden administration's

announcement of partial debt relief.

Considering there are 43 million Americans managing more than $1.6 trillion in student loans,

it's certainly worth revisiting how this all played out.

We're going to move past the hysteria on the left and the right to take the emotion out of the

discussion and dig into the policy and strategy

behind the decision. But I do want to make a couple of political observations before we go any

further. In our student dead episode, we made a couple of predictions. Toward the end of the episode,

I mentioned that Biden was going to do what he was going to do. And it would be, quote, marginal and somewhat

helpful. I also guessed that it would be $10,000. So speaking of the latter, I'm no psychic. This was

Biden's campaign promise. But in fact, he sweetened the pot by adding an additional 10 grand for all

those who are Pell Grant recipients. So for anyone

criticizing him for doing too little, it should be noted that for a significant portion of

debt holders on the lower end of the income spectrum, this is really big news. In fact, it's going

to wipe out a pretty healthy amount of total debt and unshackled millions of borrowers altogether.

On the political front, the responses have been predictable.

Conservatives were locked and loaded to criticize this as a bailout to the participation trophy

generation, which overlooks so many crucial points about the character and cost of debt

that has accrued in the past 20 years.

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