President Biden has announced that the federal government will forgive $10,000 in student loan debt for Americans making less than $125,000 annually as well as extend the student loan repayment moratorium. This plan is estimated to cost taxpayers $330 billion and should be seen as the most unfair, outrageous, and disgraceful decision in many years. The president is telling Americans that they do not have to bear any responsibility for their voluntary obligations in borrowing money or going into debt. His proposal is also regressive and inflationary, and possibly unconstitutional.