And if we genuinely do the third step, so that we don't repeatedly wind up back in the same place, then we have something to talk about. Without the third step, it's going to work as an invitation to people to get into debt and expect to be bailed out. (You can say that people shouldn't take it that way, but you know that at least some will.)

The problem is, while Astra Taylor may get that, I'm not sure that Biden does. I haven't noticed the "reforming society" part in the debt forgiveness proposals that have been floated.