Joe Biden and his pals just pulled a quick one over the young voters.
It was right in front of us at the ballot box.
And here’s how Boomer Biden conned an entire generation of young people with one slick offer.
Biden’s Band-Aids on symptoms
The Biden Administration has been teasing student loan “forgiveness” since he took over the White House.
It was not a matter of if – but when – the Left would hang that carrot in front of younger voters.
Formal education in the United States has risen faster than inflation.
Biden’s plan to “wipe away” $10,000 in student loans for eligible candidates softens the blow for some.
It also continues the trend of the government picking winners and losers in the economy.
And it furthers the burden on middle class taxpayers.
And it adds to inflation for all.
How much could this really cost?
The Penn Wharton Budget Model is a fiscal policy think tank at the University of Pennsylvania.
They estimate the cost of this program to sit between $469 billion and $519 billion over the next ten years.
Throwing $10,000 of taxpayer money to some students does not fix the problem.
In fact, with over $1.6 trillion owed by 43 million borrowers, this handout barely scratches the surface.
The federal government is great at promoting handouts over identifying institutional problems.
And the Biden student loan handout is a Band-Aid for a stab wound.
Gen Z showed up for Democrats
So, when younger, Gen Z voters hit the ballot box at Midterms, they got conned.
27% of eligible voters in the 18-29 age range showed up.
And nearly two-thirds of those voters were Democrats.
They showed up for Democrats.
They showed up because they were promised debt relief.
But the $500 billion student loan handout was struck down by a federal judge within days of the election.
Biden had said in the past he had no legal authority to push such relief.
But that was not the point.
Political power comes from empty promises
The point of the student loan bailout was to get Democrats elected in some tight races.
It essentially stopped the red wave from taking place.
It likely saved many Democrats in the Midterms – including high-profile Senate races.
Someone, somewhere, was in Biden’s ear telling him this was the golden ticket for Midterm elections.
From the political angle, it made sense for Biden.
He would get the votes to maintain some power at the federal level.
And after the courts struck it down (obviously), they could blame Republican judges for ruining countless lives of Gen Z students.
It was a win-win.
Except for the under-30 conned kids.
They still need to pay off the financial loans they took out – like the rest of us already do or did.
US Political Daily will keep you up-to-date on any developments to this ongoing story.