Someone once said that if you torture the data long enough, it will confess. Even still, it is difficult to manipulate the data to the point where you can justify the White House’s student loan handout. Simply put, the numbers do not add up.
The claim is that nearly all graduates are under crushing levels of inescapable debt that will burden them for years, if not the rest of their lives. Therefore, widespread “forgiveness” is necessary to save these borrowers. Yet even a cursory review of the numbers is enough to blow holes below the waterline of the White House’s student loan handout.
First and foremost, debt forgiveness is a euphemism; debt can only be truly forgiven by the creditor. All a third party, like the federal government, can do is transfer the debt. In this case, the White House is trying to transfer that student loan debt to you, the taxpayer, to bail out the borrowers.
