Student debt

Biden's approval rating among those 18 to 29 has fallen from 61% to 41% which puts pressure on Biden to cancel student debt and offer tuition free community college. This will make $1.6 trillion of student debt available for spending and will aggravate the inflation problem. Community colleges will start raising tuition as soon as the government starts to pay adding to the government debt. All of those students who paid off their debt will wonder what happened. When the government backs risk it is called a moral hazard. This is what leads to banks being called too big to fail. When people start to believe that if they make investments that do not pan out the government will reimburse them for their loses and this leads to higher risk taking.