10k moral hazard

Biden will forgive 10k in federal student loan debt.

And by "forgive" I mean every single person will pay for it either through taxation or debasement of the currency.

In 2019, I paid off my student loans. I estimated that 10k was the equivalent of 3 months of work minus necessary expenses.

I was extremely frugal because I didn't want debt.

Thought experiment: let's say I could grant you 3 months of your youth? How much would that be worth to you?

I'm never getting that time back.

There's an even bigger moral hazard that emerges from this.

The government can wave a magic wand and poof! Problems solved!

People will only request more from the government and there will be even more taxation and/or currency debasement.

I NEED TO HAVE A HARD ASSET OUTSIDE OF THIS BROKEN SYSTEM

I need something that is worth trading my time for.

Time is money.

If the money is worthless, then so is your time!