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WaPo columnist opposes debt cancellation because 'it just wasn't bad enough to justify government intervention'

Here’s a long thread from Washington Post columnist Megan McArdle about student loan cancellation, and it provides some valuable insights. McArdle paid off her student loans, so she knows it can be done. As she points out, as so many others have, the beneficiaries will be among the more affluent. Unfortunately, she has to kick things off by clarifying that she’s not jealous of those benefitting from loan forgiveness — those who have been demanding this student loan cancellation have no empathy for those who paid off their loans or never took them out … why should they have to “suffer” just because others suffered before them?

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In any case, McArdle makes some great points:

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We’re amazed by all of the people tweeting that $10,000 in student loan cancellation will enable them to buy a house, travel, start a family, start a small business, etc. No wonder they’re so bad with money.

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As we said, it’s a shame she has to clarify she’s not jealous, because so many people in the replies are dragging out the usual tropes:

Are these people listening to themselves? Others should be made to “suffer extraordinarily” by voluntarily taking out loans to go to college? There’s so much talk of “suffering,” but all these people still have high-speed internet to get on Twitter and bitch about it and cry that the government owes them this.


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