“Popular” student loan giveaway may hurt Democrats

Polls I have checked agree that a small majority of Americans support some student loan forgiveness, but the percentage in favor declines as the amount forgiven inclines, such as this one conducted by left-lurching NPR. https://www.npr.org/2022/06/17/1104920545/poll-student-loan-forgiveness

Here’s a key paragraph:

“A majority of the general public (55%) supports forgiving up to $10,000 of a person’s federal student loan debt. But the more generous the relief, the less support.

Total student loan debt is $1.75 trillion. That is almost the national gross product of Spain, $1.9 trillion.

Did the 41% know that figure? Did they understand when the slate is wiped clean the debt does not vanish like smoke from a compfire? It is transferred from the students who borrowed money to taxpayers who did not.

Whatever.

It is no surprise that the majority of people like free stuff. It is a surprise that they don’t realize that nothing the government gives them is free. The government is bribing you with your own money — if you are in a privileged class, students in this case. As some say, if you rob Peter to pay Paul, you won’t hear Paul complain.

So the Biden Administration can claim the “majority” of American people approved of the bribe student loan forgiveness, but I think they are missing something.

When the Supreme Court reversed Roe vs Wade, I speculated that this would help Democratic candidates. So far it has.

Why?

The people most likely to get off their asses and do something are people with a grievance — the pro-choice people, mostly (not entirely) Democrats. The people who won their 50-year effort to overturn Roe breathed a sigh of relief. They won, they are happy, they are less likely to be flocking to the polls. 

The Supreme Court decision lit a spark in Democrats, who had been on life support. They feared a Red Wave in November. Now it may be a Red Trickle.

As to student debt forgiveness: while a majority favor it, the minority which does not favor it are unhappy. They feel cheated and are strongly motivated to come out and vote against candidates who favor endless giveaways.

The student loan giveaway will energize moderates and conservatives. 

That’s my hunch. What’s yours?