President Joe Biden’s pricey student-loan-forgiveness scheme is new proof of how very little Democrats care about the rule of law and the Constitution, for all their noise to the contrary.
Last year, the Education Department acknowledged it lacks “the statutory authority” to forgive student loans on a “mass basis.” Speaker Nancy Pelosi, too, emphasized that the president lacks “the power for debt forgiveness”; per the Constitution, it requires “an act of Congress.”
However, after the left has claimed they are the party of “norms” for the past few years, Biden has declared that he’ll simply write off $300-plus billion owed to Uncle Sam anyway.
Last Wednesday, President Joe Biden announced a student loan forgiveness plan. His Department of Education would cancel $10,000 in federal student loan debt for borrowers making under $125,000 a year or couples making less than $250,000 a year. Some may even be eligible for $20,000.
You don’t need to be a political genius to understand the proposal is a naked effort to boost the votes Democrats need this fall and raise Biden’s ultra-low polling numbers.
Democrats will likely tell American citizens they will make the “rich” pay for it. The sad part is it will not be the rich paying for it. Everyone will be paying for it, including people who chose not to go to college, which is 63% of the country’s population.
To the party obsessed with fairness, how is this fair? It’s not.
How’s it fair for an HVAC tech, who makes a good living with no debt thanks to wise financial decisions, to pay for someone’s online travel management degree? How’s it fair to force a plumber to pay for someone else’s kid’s study abroad semester in Europe? It’s not.
Putting aside concerns about funding the proposal, the White House makes no mention of individuals who worked hard to pay off their federal student loans already. Isn’t it only right and fair that they are reimbursed $10,000 or $20,000?
A report released Tuesday from the Penn Wharton Budget Model, estimated that a one-time maximum debt forgiveness of $10,000 per borrower with incomes of less than $125,000 a year, would cost around $300 billion.
The Congressional Budget Office (the non-partisan office in the government responsible for calling balls and strikes) reported that the recently passed Inflation Reduction Act may actually increase inflation in 2023.
Speaking of the Inflation Reduction Act, it included a $7,500 credit for the purchase of an electric vehicle.
Ford is raising the price of its electric F-150 by as much. With universities and colleges likely to do the same thing, Biden’s move will make this problem worse, not better.
Whether it is a car loan or a student loan, no American should take on debt they can’t pay. Similarly, no one should expect others to pay their debt. The fact that this idea is controversial with progressives is another indictment of their deeply flawed policies.
If you’re a Christian and you’re upset about the possibility of student loan debt being cancelled, let me remind you that the entirety of your faith is built upon a debt you couldn’t pay that someone stepped in and paid for you.
Yezzir, don’t listen to the stupid comment made by someone stating to put a gun in your mouth. We all have a purpose in life and we are all loved by someone. You are a good person that has faith and I agree with you totally on God paying for our sins as he did which has left a big debt to us all in which we know how to repay that debt and it sure is not by telling someone to harm themselves. Please take care of yourself and keep the faith you have. God bless you.
Hey Yezzir!
What nonsense are you spewing… Rhetorical! Better re-read the article and knock off the attack on faith based anybody. We all pay…That means those of us whom do not dodge the system by under-reporting their incomes. Every single legal citizen naturalized or born here in USA pays.
Another progressive ass hole move, I’d like to see the city of washington get NUKED.
Thgere’s nothging left worth while there anymore. Another great city being destroyed by the Dem’s.
Hey Yessir, your’e truly a fucking ass hole, stop commenting fuck head, take your stupidity and wrap a 9 mil in your mouth and pull the trigger- you are a scum bag
Bruce, you are entitled to your opinion, but telling someone to put a gun in their mouth and pull the trigger is going just a little too far. You never know what someone is really capable of doing when you don’t know what all is going on in their life. It would really be ashamed if due to a comment like you made that someone actually took their life.
Listen DanDaDanny, you seem like a likable person, but it’s time to start fighting these scum bags, there’s no reasoning with these progressive scum, like all progressive scum these are virus’s that can only be erradicated, I’ll take great pride AND NO SHAME if the scum did what I tell therm. We’re in a WAR, if you don’t have the balls to fight just step aside!