Wednesday in an online State of Student Debt Summit, Senate Majority Leader Charles Schumer (D-N.Y.) assured left-wing activists that the Biden administration is closer “than ever before” to forgiving $1.37 trillion in federal student loans.

“I have talked personally to the president on this issue a whole bunch of times,” Schumer said. “I have told him that this is more important than just about anything else that he can do on his own.We’re making progress folks. We are making progress. The White House seems more open to it than ever before.”

The Department of Education has already extended the current pause on federal student loan repayment, interest and collections through August. “Don’t get me wrong, the pause is a good thing, but it ain’t enough. It ain’t close to enough,” Schumer said.

The Democrat party has argued that debt cancellation is “one of the most powerful ways to address racial and economic equity issues.” In fact, what it will do is burden taxpayers with more than $1.37 trillion in outstanding debt and embitter those voters who worked hard to pay off their own student debt and who now have to help pay off the debts of others.

Per usual for Democrats, this is a stupid, unfair, immoral, and economically illiterate idea, but the only thing Democrats care about is that they believe it will buy them the loyalty of young voters who will get their degrees in gender studies paid for by “the government.”