AOC Wants Americans To Foot The Bill For Cancelling Wild Student Debts

( Progressives have been adamant that cancelling student loan debt is an essential step that Congress should take.

One of the leaders in that fight is Democratic Representative Alexandria Ocasio-Cortez, the de facto head of the so-called “Squad” in the House. She has constantly railed against people who oppose student debt cancellation, specifically people who are upset because they’ve paid off all of their own student loans already.

The White House is still considering what to do about student loan debt, though President Joe Biden said back on the campaign trail that he was in favor of cancelling the debt for certain people and up to a certain amount.

Many people are against this entire idea, though. Their argument is that cancelling student loan debt isn’t fair to those who worked hard to pay off the money they owe, or those who chose to go to a community college or another less-expensive school so they wouldn’t have to take on massive debt they couldn’t afford.

One of those people is Diana Furchtgott-Roth, who once served as a chief economist for the Department of Labor and who is a current George Washington University adjunct professor. She recently told Newsweek:

“Forgiving student loans is unfair to students who have paid off their loans; unfair to students who have chosen less expensive community college options; unfair to taxpayers whose dollars are paying off the loans and who have no college education; and it will not rescue students from large amounts of debt.”

For now, the White House has again extended the deadline for which it will defer interest on federal student loans, this time through August 31. It’s a policy that Harvard economist Jason Furman is certainly not in favor of.

He recently said the “perpetual deferral of interest” is “just about the worst policy,” explaining that it’s “costly, unjustified and has added to inflation.”

This week, AOC was asked directly to respond to those two comments as well as anyone else who opposes her push to cancel student debt. Referring to a COVID-19 relief program aimed to help small businesses stay afloat, she said:

“I would say, if that’s the case, did they support the Paycheck Protection Program? Did they support the forgiveness of small business loans during COVID? Is this just a matter of certain classes of people having their debt forgiveness being OK, but other classes of people not? I think that’s kind of a central issue here that we should address.”

It’s uncertainly exactly what AOC was getting at with that comment. It’s also completely off base, since it’s not at all comparing apples to apples. Cancelling student loan debt would be bailing out students who took on debt to further their own education — and who took on that financial obligation knowing the cost.

The PPP, by contrast, was offered specifically during the pandemic to businesses with the promise of having it forgiven if they met certain criteria. In other words, it’s loans the businesses may not have taken on in the first place, lest for the promise that it would be forgiven.

It’s also outrageous that the congresswoman would think that a loan to an individual has the same impact on society that a loan to a business that employs people does.

But, we should probably just expect outrageous comparisons from AOC by now, shouldn’t we?